The flag of the United States Virgin Islands is one of the most attractive flags of this world . The flag is very similar to the United States presidential flag. The flag consists of a white background on which a strong bald golden eagle sits in the center holding a green branch on the right talon and three light blue arrows in its left talon. These three light blue arrows represent the three islands St. Thomas‚ St. Croix and St. John. The mighty shield on its chest bears a blue chief on the top
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found evidence that Columbus has researched the works of significant scientists and explorers like Ptolemy‚ Marco Polo‚ and Eratosthenes.1 With their influence and his own naturally stubborn will‚ Columbus set out prove that a journey across the Atlantic to Chin and Japan was possible. In order to pay for voyage‚ and to gain the fame and power he desired‚ Columbus needed to find support from the royal court of a European nation. In 1483‚ Columbus approached the royal court of Portugal and presented
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Interim An audit which conducted in between the two annual audits with a view to find out interim profits to enable the company to declare an interim dividend is known as Interim Audit. It is a kind of audit which is conducted between the two periodical or balance sheet audits. Objectives Of Interim Audit 1. To know profit or loss of interim period. 2. To distribute interim dividend. 3. To get loan on the basis of interim account. 4. To get information about the financial position
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which exceeds materiality of $50‚000. c. The auditor should either propose an audit adjustment so that the unadjusted statement amount is less than materiality‚ and/or perform more testing to obtain a better estimate of the population misstatements. The additional testing will likely focus on receivables and inventory because they have the largest estimated misstatements. 9-28 a. The following terms are audit planning decisions requiring professional judgment: Preliminary judgment about materiality
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Fundamental concepts of f/s audit Materiality misstatement of accounting information. is a matter of professional judgment Audit risk The auditor expresses an inappropriate audit opinion when the financial statements are materially misstated‚ Evidence (more than “per discussion with client) Major phrases of audit: Client acceptance/continuance; Preliminary engagement activities; Establish materiality and assess risks; Plan the audit ;Consider and audit internal control; Audit business processes and
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existed and‚ what is more‚ had supernatural abilities. Present other positions in your essay on Atlantis. Atlantis essay question # 2: Where was Atlantis located? According to one of the theories‚ Atlantis used to occupy the greater part of the Atlantic Ocean. Its northern part was situated near Iceland‚ Scotland‚ Ireland‚ and a part of England. The southern part was Brazil‚ Texas‚ Mexico‚ and a part of the USA. According to another theory‚ Atlantis was located on the Pyrenean peninsula. You can
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Q1 - What is the relationship between the risk assessment process and the collection of audit evidence? The risk assessment process happens at the very beginning of the engagement and is to determine the level of risk present in the company. The risk assessment phase is when the auditor assess the client’s situation‚ conducts an independence threat analysis and decides whether to accept the client or not. The risk assessment is influenced by various factors such as the degree to which external
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Kyle Strommer APEL:2 Ms. McMillan 510/11 The Atlantic Monthly Essay Even 100 years ago‚ writers and people have confronted issues that still remain today. In this essay by one of the writers from The Atlantic Monthly‚ he utilizes the use of an analogy‚ strong and even diction‚ and uses strong facts to support his ideas on what he thinks of the arguments and ideas which existed during the time period of his life‚ which still don’t really contain any validity due to our complex society in
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The Demand for Audit and Other Assurance Services O ssu a S s Chapter 1 ©2012 Prentice Hall Business Publishing‚ Auditing 14/e‚ Arens/Elder/Beasley Arens/Elder/Beasley 1-1 SarbanesSarbanes-Oxley Act Enron WorldCom The Act established the Public Company Accounting Oversight Board. It also requires auditors to report on the effectiveness of internal control over financial reporting. ©2012 Prentice Hall Business Publishing‚ Auditing 14/e‚ Arens/Elder/Beasley Arens/Elder/Beasley 1-2
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456 Chapter Eleven Appendix 11B Illustrative Audit Case: Keystone Computers & Networks‚ Inc. Part III: Substantive Tests—Accounts Receivable and Revenue This part of the audit case illustrates the manner in which the auditors design substantive tests of balances. The substantive tests are illustrated for two accounts—receivables and revenue. This aspect of the audit is illustrated with the following audit documentation: • ABC’s risk assessment working paper that combines the auditors’ assessments
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