Auditing Chapter 3 Homework 3-27 a. These are the items that should be included in the auditor’s report: 1. Normal receivable confirmation procedures‚ although not used‚ should not be listed here since it was not material‚ and the auditor was able to gain a satisfactory opinion from the client’s use of them. 2. The change in the accounting method for long-term construction doesn’t need to be included here since it is discussed in the footnotes. 3. Lawsuits are normally included
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AUDIT EVIDENCE Audit Evidence Definition : All the information used by the auditor in arriving at the conclusions on which the audit opinion is based. This includes the information contained in the account records underlying the financial statements and other information. Additionally‚ audit evidence should be persuasive‚ rather than convincing. There are different levels of reliability of audit evidence‚ some providing more evidence than others. There are nine types of audit evidence
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[pic] ACCTG 312 SC 2012: Assignment 1 Current issues – scandals in auditing Introduction • For this assignment‚ you are required to research and report back on one of four well known scandals that involve auditors in some way. • It can be commenced after week 1 lectures are completed‚ so gives you a chance to get part of your semester’s work done early. It is due in week 3 (Thursday at 4 pm). • You will also be required to very briefly report to your tutorial group on one interesting
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about malevolent beliefs? As Sam Harris argues‚ I agree that science is indeed capable of providing a universal moral truth that is based on the goal of decreasing human suffering. Sam Harris’ utilitarian theory is correct and states‚“it is possible for individuals‚ and even for whole cultures‚ to care about the wrong things‚ which is to say that it’s possible for them to have beliefs and desires that reliably lead to needless human suffering”. Essentially‚ Harris’ says immoral beliefs may lead to
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I chose to attend this particular event because I am actually familiar with Wood Harris and his work and was excited to see him in person. Although I had never seen The Wire‚ I was well aware of the show’s success and portrayal of African-American men. The event was held in the library auditorium and it was a success. Many people attended the event and several audience members interacted with the panel. Miss CSU introduced herself and then went on to introducing the panel of guests which were cheered
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“Accounting did not cause the recent corporate scandals‚ unreliable financial statements were the results of management decisions‚ fraudulent or otherwise”. (Lin & Wu‚ 2006‚ para. 5) Waste Management‚ HealthSouth‚ Enron‚ Satyam and Madoff are just a few names that come to my mind when I think of fraudulent accounting. Disguised loans‚ inflated income‚ improper accounting and misstated earnings‚ different words all describing the same thing‚ FRAUD. Fraud affects the company‚ the consumers
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Due to her activism‚ and her effectiveness‚ Harris began to attract attention. Appearing on the Dick Cavet Show with her husband‚ Harris became the focal point of the interview. Noting that she “had been in the news a great deal lately…” Cavet declared‚ “as you know it’s not always good when a wife gets in the news in Washington‚ but in this case it is.” Cavet added that Harris was “in the Man In The News section of the Times‚ [so] they had to change it to Woman In The News…” He then observed
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On April 20‚ 1999‚ a depressed teen and a psychopath decided to go on a killing spree at Columbine High School. The depressed teen‚ Dylan Klebold‚ and the psychopath‚ Eric Harris‚ had been planning every detail of the massacre for almost a year. Their goal was to kill as many people as possible. Eric and Dylan injured twenty-four people and killed eight male students‚ four female students‚ and one male teacher. Then they committed suicide in the school library. Many people want to know why the two
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Solutions for the Biltrite Bicycles Inc. Case Module I - Assessment of Inherent Risk 2 Module II – Assessment of Control Risk 16 Module III - Control Test: Sales Processing 28 Module IV - PPS Sampling: Factory Equipment Additions 30 Module V - Accounts Receivable Aging Analysis 34 Module VI - Sales and Purchases Cutoff Tests 41 Module VII - Search for Unrecorded Liabilities 46 Module VIII - Dallas Dollar Bank Reconciliation 48 Module IX- Analysis of Interbank Transfers 51 Module X -
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Campbell Soup Company 1. Identify legitimate business practices that corporate executives can use for the primary purpose of manipulating or “managing” their company’s reported operating results. Are such practices ethical? Defend your answer. Some examples of legitimate business practices that executives can use to manage their company’s reported operating results include: offering customers extended payment terms at the end of the a period to accelerate sales‚ recording generous reserves
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