CHAPTER 6 Audit Evidence |Learning Check | 6-1. a. Audit evidence is all the information used by the auditor in arriving at the conclusion on which the audit opinion is based. Audit evidence includes (1) the accounting records underlying the financial statements and (2) other information that corroborates the accounting records and supports the auditor’s logical reasoning about fair presentation in the financial statements. b. Any information that is obtained
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[This Article appeared in the American Scientist (Nov-Dec 1990)‚ Volume 78‚ 550-558. Retyped and posted with permission.] The Science of Scientific Writing If the reader is to grasp what the writer means‚ the writer must understand what the reader needs George D. Gopen and Judith A. Swan* *George D. Gopen is associate professor of English and Director of Writing Programs at Duke University. He holds a Ph.D. in English from Harvard University and a J.D. from Harvard Law School. Judith A. Swan
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Starbucks Brand Audit Starbucks - Brand Audit Ranking as the 96th in Interbrand’s Top 100 Brands of 2011 list with its $3.6 million brand value‚ Starbucks is one of the most successful and highly recognized brands. In order to understand more about the underlying strategies that brings this success‚ we analyzed the brand focusing on its brand inventory‚ brand positioning‚ marketing strategy‚ consumer perceptions and competitors. Finally‚ we evaluated Starbucks’ strengths and improvement areas
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prepared during an earlier North Face audit to conceal a critical judgment error made by a Deloitte audit partner. The SEC revealed that Richard Fiedelman failed to document changes that his subordinates had made in the 1997 North Face workpapers. The auditor’s working papers provide the principal support for the auditor’s report‚ including his representation regarding the observance of the standards of field work‚ which is implicit in the reference in his report to generally accepted auditing standards
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Post completion audit aims to evaluate the efficiency and effectiveness of the capital budgeting decision that the management has implemented. It compares between the planned and the actual outcome‚ costs and the use of resources‚ results and benefits. It contains all assumptions that were made during the decision-making period. It is one of the ongoing continuous processes through which the organisation learns and improves. Recent research suggests that capital budgeting involves far more than
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| |LO1 – Understand the process of strategic planning |Grading |Assessment Type | | |(P/M/D) | | |1.1 |Explain strategic contexts and terminology – missions‚ visions‚ objectives‚ goals‚ |P 1.1 |Individual
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Executive summary In the dawn of 21st century‚ Italian company Parmalat suddenly collapsed with €14 billion in debt‚ which made it the biggest corporate failure in Europe history. This case provides us a good opportunity to investigate corporate governance issue in Continental Europe. In this paper will be initiated with introduction of Parmalat’s history and events review on its bankruptcy‚ followed by analyzing the shortcomings of its corporate governance in both internal and external aspects
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Nike’s Cultural Audit Today a shoe is more than something to protect and keep one’s feet warm‚ it is a fashion statement‚ an athletic enhancer‚ rebellion‚ status‚ and the ins and outs of coolness. Shoes‚ mainly athletic shoes have changed drastically throughout the years. From weight‚ size‚ look‚ and comfort ability‚ Nike has been the leading footwear company to develop and lead such a growing industry. Peter Hitchcock‚ the author of Oscillate Wildly‚ wrote‚ “The shoe is magical‚ within both
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Audit Quality and Audit Firm Size: Revisited by Dan A. Simunic The University of British Columbia December‚ 2003 Background: 1. Audit quality is an important element of corporate governance – although it’s unclear whether audit quality and other aspects of corporate governance (e.g. director knowledge and independence) are fundamentally complements or substitutes. 2. Notion that audit quality varies systematically across classes of audit firms (now Big 4 vs. non-Big 4) has been
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Arguments in Favour of Mandatory Audit Rotation: As an attempt to strengthen the audit independence and the audit quality‚ mandatory audit rotation is to be considered as a very good proposal to safeguard the audit independence. It is‚ however‚ limited number of years above that the audit firm or the engagement partner (For instance‚ the U.K. approach is to change only the engagement partner. While in the U.S. approach it is mandatory to change the whole audit firm) can no longer be or continue
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