PLANNING THE IT OPERATIONS AUDIT The mere mention of an "audit" is enough to make anyone nervous. But‚ put in proper perspective‚ an audit of IT operational policies and procedures is an effective means of assessing the viability of IT services and functions. An audit will serve its intended purpose if two primary objectives are reached: 1. Audit goals are clearly defined in advance‚ stating the purpose of the audit and the expected results. 2. Audit results are applied to improve
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We do not believe that the auditors from Friehling & Horowitz exercised due care and maintained professional skepticism throughout the audit. According to the AICPA website‚ “due professional care imposes a responsibility upon each professional within an independent auditor’s organization to observe the standards of field work and reporting” (AICPA). This is because the auditors should have been skeptical of Madoff’s bank account and Chase and should have looked into what that bank account was
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INTERNAL AUDIT REPORT 2011-09 KincaidOutdoorCenterCashControls ParksandRecreationDepartment July 12‚20II OF ANCHORAGE MUNICIPALITY Internal Audit Department 632 W 6th Avenue‚Suite600 P . O .B ox 1 9 6 6 5 0 Anchorage‚Alaska 99519-6650 http://www.muni.org/audit OFFICE OF THE INTERNAL AUDITOR PeterRaiskums‚CIA‚ CFE‚ CGFM Director Phone: (907) 343-4438 Fax: (907) 343-4370 E-Mail: raiskumspw@muni.org OF AIVCHORAGE M UNICIPALITY Phone:907-343-4438 Fax:907-343-4370 Auditor Officeof the Internal 632W
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Proposal Energy Audit: An energy audit is an inspection‚ survey and analysis of energy‚ flows for energy conservation in a building‚ process or system to reduce the amount of energy input into the system without negatively affecting the output(s). Energy audit identifies opportunities for financial savings by elimination of wasteful use of electricity‚ coal and fuel oil‚ without affecting the process or quality of product. Need for Energy Audit: It has been established that Energy
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2004 What Is a Case Study and What Is It Good for? JOHN GERRING Boston University T his paper aims to clarify the meaning‚ and explain the utility‚ of the case study method‚ a method often practiced but little understood. A “case study‚” I argue‚ is best defined as an intensive study of a single unit with an aim to generalize across a larger set of units. Case studies rely on the same sort of covariational evidence utilized in non-case study research. Thus‚ the case study method is correctly
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Internal audit is a dynamic profession involved in helping organizations achieve their objectives. It is concerned with evaluating and improving the effectiveness of risk management‚ control and governance processes in an organization. To do this‚ internal auditors work with management to systematically review systems and operations. These reviews (audits) are aimed at identifying how well risks are managed including whether the right processes are in place‚ and whether agreed procedures are being
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controversial environment. Where a simple mishaps can end up in a heavy lawsuit. Under common law‚ audit professionals have the responsibility to their client to fulfill their agreed on contracts. However‚ if one audit fails to fulfill their contract‚ not only they have to take responsibility to their clients but in some circumstances‚ to parties other than their clients. These parties of those who rely on audit reports‚ therefore auditors also have the responsibility to them as professionals. In addition
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TYPES OF COST AUDIT * Cost Audit to assist Management : The main object of this type of cost audit is to make available accurate‚ relevant and prompt information to management to assist it in taking important managerial decisions. * Cost Audit on behalf of the Government: The government may appoint a cost auditor to conduct cost audit where it is necessary(a) to do so in the opinion of the government under section 233-B of the companies Act‚ 1956; (b) to ascertain correct cost of certain
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output from any given activity is achieving the desired result .i.e. it entails execution of operations such that set objectives are attained. Some management Gurus under this concept defined VRM as “Doing the right things”. CONCEPT OF VFM This study is aimed at making the maximum impact from the use of your resources‚ of time‚ money or what other resources you have at your disposal. VFM could also be applied in two different sphere‚ they include; 1. The sphere of Human Endeavour 2
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required to file Cost Audit Report and Compliance Report in XBRL format and what is the authority for the same? Ministry of Corporate Affairs has mandated filing of the Cost Audit Report and Compliance Report from the financial year 2011-12 onwards (including overdue reports relating to any previous year) by all cost auditors and companies concerned by using the XBRL taxonomy. MCA vide Circular No. 18/2012 dated July 26‚ 2012‚ has extended the last date of filing of cost audit reports and compliance
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