* Subject Synopsis This course introduces the elements of auditing. It discusses the principles and procedures of auditing‚ types of audits‚ scope and objectives of auditing. It also covers professional ethics in auditing‚ audit evidences‚ audit planning and various other aspects of auditing. Moreover it gives knowledge about objectives of doing audit. The course also aims to explain the liability and responsibility of the auditor and how the computerised environment effects the business environment
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Standards Introduction Self-regulated: the standards governing audits were established by members of the profession themselves Sarbanes-Oxley Acct of 2002 Created: Public Company Accounting Oversight Board (PCAOB) to provide external and independent oversight over the audits of public entities Responsible for registering public accounting firms‚ establishing standards for audit engagements‚ and inspecting the quality of audits conducted by public accounting firms ****Generally Accepted Auditing
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the circumstances and opinion expressed by an auditor‚ where he is unable to obtain sufficient audit evidence. 2. Auditors of M/s Santa Banta (P) Ltd. were changed for the accounting year 2010-11. However there was no change in the position of closing stock which remained at ` 400 lacs . The auditors of the company propose to exclude the audit of closing stock of ` 400 lacs from their audit programme on the understanding that it pertains to the preceding year which was audited by another
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1 Chapter 7: Audit Evidence I. Definition: Evidence – information used by the auditor to draw conclusions on the fair presentation of the financial statements. Audit objectives suggest the types of evidence to accumulate. II. Decisions on evidence accumulation A. Which audit procedures to use. General Objectives: Six TRAOs Eight BRAOs Four PDAOs Accounting Cycles: Five Management Assertions Specific Objectives: At least: Six TRAOs Eight BRAOs Four PDAOs Audit Procedures: At least one
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CHAPTER 20 Audit of Cash Balances Copyright 2003 Pearson Education Canada Inc. 20 - 1 What are the auditor’s primary concerns with regard to cash? Copyright 2003 Pearson Education Canada Inc. 20 - 2 What are the auditor’s primary concerns with regard to cash? - existence Copyright 2003 Pearson Education Canada Inc. 20 - 3 What are the auditor’s primary concerns with regard to cash? - existence - completeness Copyright 2003 Pearson Education Canada Inc
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AUDITING THEORY 1. Which of the following activities is an analytical procedure an auditor would perform in the final overall review stage of an audit to ensure that the financial statements are free from material misstatement? A. Reading the minutes of the board of directors’ meetings for the year under audit. B. Obtaining a letter concerning potential liabilities from the client’s attorney. C. Comparing the current year’s financial statements with those of the prior year. D. Ensuring that
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Page number Executive summary 4 Introduction 5 Audit in brief: 6 History of auditing profession in Bangladesh 6-10 Ending summary 10-11 conclusion 11 Executive summary: The development of auditing profession in an emerging economy Bangladesh is analyzed here. This report aims to discuss the historical background and evolution of auditing. It is found that auditing has evolved through a number of stages. In the mid 1800s to early 1900s‚ the audit practice was considered as traditional conformance
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SRI LANKA ECONOMIC ASSOCIATION (SLEA) ANNUAL SESSIONS th 19 – 20th October‚ 2012 Export Growth for Sustained Development TECHNICAL SESSION IV: SECTORAL DEVELOPMENT 2: Services Tourism and Entertainment Srilal Miththapala BSc (Eng) ;CEng; FIEE; FIH; Project Director‚ E U Switch Asia Programme Greening Sri Lanka Hotels Project‚ Past President of the Tourist Hotels Association of Sri Lanka World Tourism Tourism is referred to by many as the world ’s largest and fastest growing industry
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genre. This makes diversifying more difficult. • Marvel competes not only with DC Comics but also with other types of films (such as action‚ suspense‚ thriller‚ horror‚ sci-fi‚ etc.). When people go to the movies for entertainment‚ they don’t typically just go to watch comic book hero movies. Therefore‚ Marvel faces competition from a wide range of genres (and production companies like Paramount that produce different genres of movies). • Marvel can turn each comic book character into its own brand
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of adding a major entertainment center to a shopping mall has been gaining popularity over the past few years. Several of these so called ’mega-malls ’ have been constructed in various regions of the country‚ with substantial square footage allocated to large-scale entertainment centers. The first major entertainment mall was probably the West Edmonton Mall in Alberta‚ Canada‚ which came complete with a full amusement park and indoor surfing. Some of the largest U.S. entertainment malls now include
Free Shopping mall