Strategic Management Mid Term Audit Prepared By: Mohamed Mohamed Kotb Submitted To: Dr/ Ashraf Sheta Contents Introduction………………………………………………………………… 3 Strategic Posture …………………………………………………………… 4 1. Organizational Profile………………………………………………………...........4 2. Vision…………………………………………………………………………………………5 3. Mission………………………………………………………………………………………5 4. Organizational objectives ……………………………………………………..…..5
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THE ROLE OF AUDITORS IN THE CONTEXT OF CORPORATE GOVERNANCE Asst. Prof. Loganathan Krishnan Abstract Auditors examine company’s accounts and report to the company on the accounts. Fundamentally‚ the concern is how auditors carry out these duties effectively. Legislations namely Companies Act 1965‚ Securities Industry Act 1983 which has been consolidated as Capital Market and Services Act 2007 have made major inroads to ensure that auditors carry out their duties and obligations effectively. Additionally
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Amy was assigned to analyze and provide the Auditors with the necessary clarification and documentation‚ as Delima Enterprise Sdn Bhd (DEBS) had not performed the statutory audit. It was July‚ 2006 when Encik Zayed engaged the external Auditor Aziz & Co‚ introduced by his friend to perform the statutory audit for the period of 2003 to 2006. That was the first audit experience for the couples and it was a difficult learning experience. The Auditors expressed their intention to qualify the Financial
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Aim Did the Treaty of Versailles Accomplish in Providing Peace? The main goal of the Treaty of Versailles was to keep peace. Georges Clemenceau from France was part of the Big 3 and he utterly despised Germany. He believed that if Germany was weakened and broken down into little pieces they could never start another war or threaten France again. He mainly wanted Germany to be severely punished and they were. A large section of the Treaty dealt with the punishment of Germany because many others
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Audit Objectives: a. Determining that cash on hand as shown in the general ledger is represented by currency and coins on hand. b. Determining ownership and proper accountabilities c. Ascertaining that cash balances are available without restrictions. Audit Procedures: a. Examination of cash proof sheets and tracing of their totals to the general ledger b. Test tracing of deposit or withdrawal slips to individual subsidiary ledgers and vice
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Chapter 14 Audit of the Sales and Collection Cycle Key objectives: 1. Identify the accounts and classes of transactions in the sales and collection cycle. 2. Describe the business functions and related documents and records in the sales and collection cycle. 3. Understand internal control and design appropriate tests of controls and substantive tests of transactions for sales. 4. Understanding the accounting and controls for sales returns and allowances. 5. Understand internal
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The term statutory audit refers to the review or the record of the company of the government organization which is required by the law or the municipal authority of any particular region. This is done to monitor the performance of the firm or the government organization. The company here the auditors who provide the auditing report and submit those reports annually or semiannually to the law or the concerned municipal law authority. This statutory auditing finally does the cross checking of the financial
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Mandatory Audit Rotation: As an attempt to strengthen the audit independence and the audit quality‚ mandatory audit rotation is to be considered as a very good proposal to safeguard the audit independence. It is‚ however‚ limited number of years above that the audit firm or the engagement partner (For instance‚ the U.K. approach is to change only the engagement partner. While in the U.S. approach it is mandatory to change the whole audit firm) can no longer be or continue as the auditor of a company
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information in the income statement are recorded at their correct amounts; no recording errors have occurred. 4. Cut-off Define: Transactions and events have been recorded in the correct accounting period. Explain: the income statement for say the year ended 31 December 2009 only contains sales and purchases for 2009‚ noting relates to 2008 or 2010. 5. Classification Define: transaction and events have been recorded in the proper accounts. Explain: all individual transactions are shown under
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Hope and Heritage: Myth of Thomas Jefferson Throughout countless books‚ stories‚ and articles that depict Thomas Jefferson he is placed on a pedestal as a nearly perfect man. The books all tell of his great achievements‚ but never do these books speak of his true manner and thought process pertaining to slave trade. Gordon Wood takes a deep dive into Jefferson’s personal life‚ plainly showing who he truly was. Just as people have done since the beginning of time‚ they are still doing it today
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