ACG 4632 Introduction to Financial Statement Auditing Spring 2015 Section 422 Instructor: Devin Williams‚ CPA 1-1 Chapter 1 An Introduction to Assurance and Financial Statement Auditing Copyright © 2014 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. LO# 1 The Study of Auditing The study of auditing is different from other accounting courses that you have taken in college because … OTHER COURSES Rules
Premium Auditing Audit Auditor's report
MIT765801 AUDITING Individual Assignment HIH Insurance Report Student Name: Jinyun Wang Student ID: MIT122634 Lecturer Name: Susan Currie Tutor Name: Susan Currie Due Date: 29 / 1 / 2014 Submitted date: 7/ 2/ 2014 by email Executive Summary The auditing profession plays a significant role in industrialized economies for many years. In the insurance industry‚ the manner of auditing profession is regulated. The collapse of Health International Holdings (HIH) was recorded
Premium Insurance Auditing Ethics
Uses of Information Technology to Auditing…………………………………………….15 2.3 Audit Process…………………………………………………………………………………………………………………16 2.4 Audit Opinion and CAATS………………………………………………………………………………………………22 2.5 Impact of a computerized system on the Audit Process……………………………………………….26 2.6 Knowledge and Experience………………………………………………………………………………………….28 2.61 Audit Documentation………………………………………………………………………………………………….29 2.7 Information Technology and the development of Computer Auditing………………………….31
Premium Auditing Accounting software Audit
REVISION LECTURE PAST EXAMS QUESTIONS: These questions are for practice only. They are not at all an indication of the questions on the actual exams. All topics need to be revised from topic 4 onwards for the exam. These questions and possible answers will be discussed during revision lecture. Solution will not be provided on the learning hub. Section A (Short answer) 1. List and briefly explain four factors that contribute to the need for financial report audits. Increasing reliability
Premium Auditing Audit
Generally Accepted Auditing Principles Generally Accepted Auditing Principles There are many different types of audits including financial statements audit‚ the operational audit and the compliance audit. Either an internal auditor or an external auditor from another firm can conduct these various audits. “The American Accounting Association defines auditing as a systematic process of objectively obtaining and evaluating the accounts of financial records of a governmental‚ business‚
Premium Management Generally Accepted Accounting Principles Balance sheet
Case Study A Case Study in Corporate Governance & Ethical Auditing Satyam Fiasco & Role of PwC as an Auditor Group I Submitted By: Aditya Zutshi Ambrish Mani Piyush Anandani Ravinder Pal Singh Dhillon Abstract & Approach On Dec 16‚ 2008‚ Satyam declared to buy entire stakes in Maytas Properties for $1.3 Billion & 51% stakes in Maytas Infra for another $300 Million. By this action‚ the investors were furious. This was because of the move to invest in a promoter-related
Premium Audit Ethics Morality
Monterrey Company Case Analysis What type of costs does Monterrey Company include in their finished goods? Name all the costs‚ as they are specified in the case. The Monterrey Company includes the cost of goods sold is the sum of raw materials in these goods plus the value added by the manufactures. The amounts include the cost of services to convert raw materials into goods in process in which they will increase the value of goods in process inventory. The costs include purchase for cash: direct
Premium Generally Accepted Accounting Principles Balance sheet
Case: Clearfield Cheese Company What are three problems that Clearfield Cheese Company is facing? At least one problem should address transportation. (Hint: you can use any of your business studies to address the problems) If their inventory levels are high‚ it means the cost of holding inventory it’s going to go up. The reason the inventory levels are high could be that the transit time is too high and they have to retain more safety stock to not run out of stock. They have a problem with
Premium Inventory Supply chain management
case study of company law I. Sarah’s business act and Richforth Ltd. constitution A company is a legal entity that is separate and distinct from its members and shareholders. When a company is legally formed‚ it has become ‘incorporated’ (Wild and Weinstein‚ 2009). As a legal person‚ a company must act in compliance with existing laws and in accordance with the terms of its constitution. Section 33 (1) of the CA 2006 provides: “The provisions of a company’s constitution bind the company
Premium Law United States Constitution Constitution
------------------------------------------------- A ------------------------------------------------- Case Study ------------------------------------------------- On ABRAMS COMPANY ------------------------------------------------- Of ------------------------------------------------- Management control System ------------------------------------------------- ------------------------------------------------- Presented to
Premium Inventory Balance sheet Asset