AUDIT FAILURE OF WORLDCOM Group 1 Background • WorldCom‚ first named LDDS (Long Distance Discount Services)‚ grew largely by aggressively acquiring other telecommunications companies in 1990s. • For a time‚ it was the United State’s second largest long distance phone company (after AT&T). Background However‚ the year 2002 comes… • In March‚ the SEC began to investigate WorldCom as it reported large profit while AT&T reported loss. • In May‚ Arthur Anderson was replaced by KPMG
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UNIVERSITY Institute of Accounts‚ Business & Finance Audit Communications Report Writing Canayon‚ Angelie Rose T. Puno‚ Michelle Ann J. Royong‚ Precious B. Rubio‚ Ephraim Jomel P. Tulio‚ Ayn Carla M. AIA0212 TOPIC OR SECTION: Account Receivable: Cashier’s Office I. SCOPE An audit of the Cashier’s Office was conducted for the period January 1‚ 2013 through December 31‚ 2013. The objectives of the audit were to examine and evaluate the following: • Adequacy and
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and obesity has become a major problem in the United States. Some blame the obesity epidemic on fast-food restaurants‚ others blame it on the person consuming the food‚ and others blame the government. All of these are factors in the problem‚ but the government can make a difference in reducing the rising issue of obesity by providing school-age children with healthy but enjoyable eating options in their schools‚ putting more restrictions and regulations on fast-food advertising‚ and requiring fast-food
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1. Discuss the origins of the technology make the current accounting system available. 2. Define an accounting system. An accounting system is a system that identifies‚ records‚ communicates information that is relevant‚ reliable‚ and comparable about an organizations business activities. 3. List and describe the components of accounting information system. Technology People Data Input and Output Internal Control 4. Discuss the FASB conceptual framework. Assets: A resource
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Weaknesses in an Internal Audit Control System by Osmond Vitez‚ Demand Media An internal audit control system is a common safeguard found in business today. This safeguard is broken down into two parts: internal audits and internal controls. Internal audits are informal reviews by the business owner or employees. They provide information on internal operations in employee performance. Internal controls represent the specific policies the business owner‚ manager and employees must follow in the
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ability of every woman‚ and should therefore be socially acceptable and supported by everyone. For some reason this is not the case in our society‚ in fact breastfeeding continues to be a controversial issue that must be addressed by women’s rights activist groups. Breastfeeding is a feminist issue because the natural act has been medicalized and devalued by major companies because of their interests in profits in bottle feeding. According to Penny Van Esterik a coordinator in the World Alliance for
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little about because he was not a part of my life. My mother’s husband was the father figure in my life growing up. He is employed year round doing agricultural work. I will be discussing some significant personal troubles in my life and the role some issues have in creating them. In “Sociological Imagination‚” C. Wright Mills explains “Troubles occur within the character of the individual and within the range of his immediate relations with others; they have to do with his self and with those limited
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Madison Thorne works in a public accounting firm and hopes to eventually be a partner. The management of Allnet Company invites Thorne to prepare a bid to audit Allnet’s financial statements. In discussing the audit fee‚ Allnet’s management suggests a fee range in which the amount depends on the reported profit of Allet. The higher its profit‚ the higher will be the audit fee paid to Thorne’s firms. Would you recommend that Thorne accept this audit fee arrangement? Why or why not? Describe
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implement the Public Service New Remuneration (SBPA) for all regular officers appointed Federal Public Service involving the structure of services that include schemes of service‚ conditions of service‚ salaries‚ allowances‚ facilities‚ and retirement and pension benefits. BACKGROUND Built on service delivery‚ where people first and performance now‚ the Public Service transformation initiatives will be implemented through the SBPA which hinges on the dynamic leadership‚ the Public Service rigid
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Subject – AUDIT Topic – AUDIT OF BANKS. Name – Arwa Khambati Roll no. – 29 College Name – Sydnehem College of Commerce and Economics Seat Number - Certificate of Completion Date: 19/10/2013 This is to certify that Ms. Arwa Khambati (Roll No. 29) a student of Master of Commerce (Part 2)‚ Sydenham College of Commerce and Economics‚ has undergone Project work on titled AUDIT OF BANKS. 19/10/2013 Mumbai
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