BIT 2318 Information System Audit Outline: 1) Introduction to IT audit‚ purpose Types of IT audits‚ history of IT audit‚ major events that have prompted the use of and been solved using IT audit techniques. IT Audit process outline; process and phases. Planning the audit‚ materiality‚ risk assessment. 2) Effective information system audit. Evaluation of controls‚ types and tests of controls. Audit sampling‚ sampling methods‚ sample evaluation. 3) Audit automation and
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How has the Sarbanes-Oxley Bill influenced reporting by governmental agencies and not-for-profit organizations? Does the Public Company Accounting Oversight Board have authority to establish auditing standards for not-for-profits? What specific steps might governmental agencies or not-for-profits take to comply with the requirements of the Sarbanes-Oxley Bill? 1. Reporting for governmental agencies and not-for profits has become more detailed including management representations related to the
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NALGA National Association of Local Government Auditors NALGA Peer Review Committee 1220 SW Fifth Ave.‚ Room 120 Portland‚ OR 97204 (503) 823-3542 October 27‚ 2000 Mr. Ronald A. Coen‚ Director Fairfax County Internal Audit Office Fairfax‚ Virginia 22035 Mr. Coen: We have completed an external quality control review of the Fairfax County Internal Audit Office for audits initiated during the period July 1‚ 1999 through June 30‚ 2000. In conducting our review‚ we followed the standards and
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(1987) of the University of Boston and Director of Public procurement in Malawi in his journal Business and Creative Technologies gives the general definition of audit as an evaluation of a person‚ organization‚ system‚ process‚ project or product. Auditing is conducted to examine carefully for accuracy with the intent of verification. Audit is mostly
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Adeniji‚ A. (2004): Auditing and Investigation. Lagos‚ Value Analysis Publishers. Agbaje‚ F. (2007). Nigeria Auditors and the Distressed Finanancial Sector. The National Accountant‚ 6(4) 36-37. Buhari(2001).Internal auditor control system. Journal of auditor (2001) 42. 423-425. Dyck‚ A.‚ Morse‚ A. and Zingales‚ L. (2008). Who blows the whistle on the Corporate fraud? www.ssrn.com (Retrieved 8/03/2011) Gay‚ G.‚ Schelluch‚ P.& Reid‚ I. (2002): Users’ Perceptions of the Auditing Responsibilities for
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Viktoria Martirosyan Case 1.1 Qt.1 Several parties were responsible for Enron crisis‚ including independent auditor‚ key executive officers‚ internal auditors‚ SEC and FASB. The hypocrisy‚ dishonorable actions and unethical behavior of Kenney Lay‚ Jeffrey Skilling‚ Andrew Fastow led to bankruptcy. This and many other problems‚ such as loss in transactions involving the swaps stocks‚ SPE related issues and est.‚ finally contributed to crisis. As Enron executives‚ all of their concerns should
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WHY IS AUDITOR INDEPENDENCE SO IMPORTANT? Auditing is the efficient critical examination done by one person or group of people’s independent from the system audited. To do an audit‚ confirmed information must be present and some standards by which the auditor can evaluate the information. Another is gathering and evaluating any information to determine whether the information being audited is identified in accordance with establish criteria to satisfy the purpose of the audit and also auditors must
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material fraud and illegal client acts to the audit committee and the Board of Directors. If the financial statements are not restated‚ the auditor should issue a qualified‚ an adverse opinion or consider withdrawing from the engagement. The team auditing Enron should have followed the guidance when the management acted with scienter. As mentioned in the case‚ Arthur Andersen was being paid exorbitant amounts of money to audit Enron and attest to the validity of its financial statements. The firm
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Practice Exam – 10 Points ACC/490 Auditing Student Name: Multiple Choice – Highlight the best answer Point Value: .25 each 1. Which one of the following is among the three components of audit risk? a. incurrence risk b. occurrence risk c. rejection risk d. control risk 2. The Hochfelder Case is important because it limited auditor liability under: a. the 1933 Securities Act. b. the 1934 Securities Exchange Act. c. common law. d. RICO. 3. Which of the following
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Continuous monitoring and continuous auditing From idea to implementation Continuous Monitoring and Continuous Auditing: From Idea to Implementation Most financial and auditing executives are aware of continuous controls monitoring and continuous auditing and of the general benefits of such programs. Yet relatively few enterprises have realized their full potential‚ particularly at the enterprise-wide level. Deloitte sees the reason for this as twofold: first‚ executives have not seen
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