Hoang Thi Thanh Ha – 13200154 Auditing Assignment 2: 1.What are the factors to consider Inherent Risk? Inherent risk is a measure of the auditor’s assessment of the likelihood that there are material misstatements in a segment before considering the effectiveness of internal control. Factors affecting assessment of inherent risk include: Nature of the client’s business : Industry practices Non-routine transactions Makeup of the population Audit experience : Results of previous audits Initial vs
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Q 2.5 ■ The external auditor is the person appointed by the local government under the Local Government Act 1995 to undertake an audit of the accounts and financial report for each financial year. ■ The internal auditor is the person appointed by the local government to undertake an audit of the adequacy and effectiveness of the internal control structure and may include financial controls‚ legislative compliance‚ information systems‚ employment practices and risk management. The primary role
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Arayawna Moore @02585360 Auditing I 09/20/10 CHAPTER 1 1-14 A. 3 B. 2 C. 2 D. 3 1-15 A. 2 B. 3 C. 4 D. 3 1-21 1) IRS‚ compliance audit 2) GAO‚ operational audit 3) CPA‚ operational audit 4) Internal‚ financial statement audit 5) GAO‚ operational audit 6) CPA‚ financial statement audit 7) GAO‚ financial statement audit 8) IRS‚ compliance audit 9) Internal‚ financial statement audit 10) IRS‚ compliance audit 11) Internal‚ financial statement audit 12) GAO‚ compliance
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Problems The legislation and the regulations by Nigerian officias has become one of the major problems of Larson. The value of the company by the Securities and Exchange Committee has been extremely low and the sales collection and payment to suppler are delayed in Nigeria. All these factors affect the liquidity and cash flow and raise the total cost of the company. Maintaining the operation was also complicated by problems in staffing. Expatiate staff is very costly. Additionally‚ entry visas
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Ultramares v. Touche case held that auditors could be held liable to any foreseen third party for ordinary negligence. Answer: False Difficulty: Medium 4. The Securities Exchange Act of 1934 offers recourse against the auditors to a far greater number of investors than does the Securities Act of 1933. Answer: True Difficulty: Medium 5. The precedent set by the Hochfelder v. Ernst case is generally believed to have increased auditors ’ legal liability.
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A Study on the Problems faced by Teachers in a Mixed-ability Class. P.Karthi‚ Assistant Professor‚ Department of English‚ Gobi Arts & Science College‚ Gobichettipalayam. Mixed ability as used in ELT usually refers to the differences that exist in a group in terms of different levels of language proficiency. This might be a result of simply the amount of time they have spent for learning‚ their different language learning abilities or learning style preferences
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Local Government Tax Mobilization and Utilization in Nigeria: Problems and Prospects By Adenike .A. ADEDOKUN Senior Lecturer Dept. of Public Admin. & Local Govt. Studies The Polytechnic‚ Ibadan. NIGERIA. Contents • Introduction • Theoretical Framework • • • • Tax Mobilization Local Government Finance and Revenue Utilization Problems and Prospects Conclusion Historical Background • • • • • • • • • • Based on Indirect Rule *Local government Ordinance of 1916 *Centralised budget system
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"THE DESTRUCTION OF MAN KIND" "We know there will be problems in environmental terms‚ many serious problems‚ but it is a matter of economics. There won’t be any complete disaster‚ and what we cannot solve‚ well‚ that’s the price we have to pay." - Eduardo Albuquerque Barbosa There is a constant war that is being fought in the rainforests of South America. The death toll is one that far surpasses any other war in history. Vietnam and World War II had minimal loss of life compared to this
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Nigeria Essay Located in West Africa‚ Nigeria is the most populous country in Africa and the seventh most populous worldwide. Thanks to its natural resources‚ especially oil‚ its economy is among the fastest growing in the world. From 1901 until its independence in 1960‚ Nigeria was a British colony. Great Britain decided to grant Nigeria its independence because after World War II Nigeria’s economy was very poor. Comprised of over 250 ethnic groups‚ as well as a population that is split religiously
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for prevent similar future malpractice. External Corporate Governance The key external governance failures in the Enron Scandal involve oversights by regulators‚ creditors‚ auditors‚ and investors at large‚ with particular focus towards Enron’s ambiguous accounting practices. Due to various failed deals and projects‚ Enron was burdened with billions of dollars of debt. In order to maintain their investment grade rating and alleviate their debt problems‚ Enron utilized special purposes entities
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