UNIVERSITY Institute of Accounts‚ Business & Finance Audit Communications Report Writing Canayon‚ Angelie Rose T. Puno‚ Michelle Ann J. Royong‚ Precious B. Rubio‚ Ephraim Jomel P. Tulio‚ Ayn Carla M. AIA0212 TOPIC OR SECTION: Account Receivable: Cashier’s Office I. SCOPE An audit of the Cashier’s Office was conducted for the period January 1‚ 2013 through December 31‚ 2013. The objectives of the audit were to examine and evaluate the following: • Adequacy and
Premium Cheque Cash register Internal control
Goals and Objectives ABC‚ Incorporated had identified the need to strengthen their current methodologies of ensuring that all applicable critical and security patches were being deployed and applied. The company believed that this objective would build a solid foundation to further mature its’ IT security practices. In order to facilitate that objective‚ the company developed five specific goals for this project: 1. Create a functional SCCM infrastructure to facilitate the automation of deploying
Premium Active Directory Project management Sun Microsystems
consumers and constantly strive for operational excellence. The company is devoted to bring excellence in business performance by focusing to meet customer’s expectation and to bring profits for their shareholders as this has been set as their main objective. The main activity of the company is to refine and manufacture petroleum products. The company’s products include gasoline‚ diesel‚ liquefied petroleum gas (LPG)‚ propylene‚ jet fuel‚ aviation turbine fuel and sulfur. It’s divided into 2 operations
Premium Royal Dutch Shell Corporate social responsibility
Audit Proposal Brenda Pina‚ Rachel Foster‚ Maria Kight‚ Christine Twiford‚ and Clorissa Willie ACC/542 July 14‚ 2014 Professor Thomas Cappels Audit Proposal There are many different types of audits including internal‚ external‚ and information technology. Companies should be familiar with the types of audits that may possibly be used on an Accounting Information System (AIS). Knowing the different types of audits and where they are used will help a company be ready for an audit and make
Premium Auditing Audit Internal control
The relationship of audit techniques‚ audit procedures and assertions Audit technique - are the basic tool or means employed to obtain audit evidences. Audit procedures - are the application of audit techniques. Assertions – are representation of management as to the fairness of the financial statements. Audit Techniques Audit Procedures Assertions Count Counting of inventory‚ cash securities‚ unmatured‚ promissory note (to establish existence and where applicable‚ ownership
Premium Auditing Financial audit Audit
study: 1. What are the auditor ’s primary objectives when he or she observes the client ’s annual physical inventory? Ans. The Primary Objective of auditor is to make sure the inventory reflected on the balance sheet actually exists and that the balance sheet includes all inventory owned by the company .This includes all raw material‚supplies‚inventory in transit.The company may have on consignment with another business and inventory stored off the premises. Confirming the existence of inventory
Premium Financial audit Audit Auditing
As the convergence of IFRS and GAAP continues to impose new personal and professional challenges on U.S. auditors‚ it also presents new career opportunities for those who embrace the continuous‚ accelerating change that characterizes globalization. U.S. auditors who recognize the opportunities and prepare to take advantage of them have little to fear from the convergence. In contrast‚ auditors who are in denial about the convergence’s inevitable effects face a very different future.
Premium International Financial Reporting Standards Financial statements Financial Accounting Standards Board
Compare the responsibilities of internal auditor and external auditor in relation to: I. The design and operations of systems and controls Internal auditor | External auditor | Internal auditing activity is primarily directed at improving internal control. Internal auditors perform audits to evaluate whether the systems and processes are designed and operated effectively as well as providing recommendations for improvement. | External auditors may be called upon to determine if an organization
Premium Auditing Internal control Audit
A. True B. False 2. Why do auditors generally use a sampling approach to evidence gathering? A. Auditors are experts and do not need to look at much to know whether the financial statements are correct or not. B. Auditors must balance the cost of the audit with the need for precision. C. Auditors must limit their exposure to their client to maintain independence. D. The auditor’s relationship with the client is generally adversarial‚ so the auditor will not have access to all of the
Premium Auditing Audit Financial audit
A Corporate Fraud is defined as a set of Activities undertaken by a company or set of individuals that are done in a dishonest or illegal manner‚ and are designed to give an advantage to the perpetrating company or the individual. Corporate fraud schemes go beyond the scope of an employee’s stated position‚ and are marked by their complexity and economic impact on the business‚ other employees and outside parties. Corporate Frauds are becoming very inherent in the present era. A selected range of
Premium Auditing Audit Internal control