BSA 700: The Auditor’s Report on Financial Statements Prepared By Abdullah-Al- Mamun The auditor should review and assess the conclusions drawn from the audit evidence as obtained as the basis for the expression of an opinion on the financial statements. Basic Elements of the Auditor’s Report The auditor’s report includes the following basic elements ordinarily in the following layout: a) Title b) Addressee c) Opening or Introductory Paragraph- i) Identification
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Types of Environment Audits Site Audit 1. Reclamation of Land * Important because the inception of the Mining Act was passed in 1869. * was periodically amended and in 1991 included closure and reclamation * Therefore‚ after the amended Mining Act in 1991 when a mine begins its operation it must have plans‚ procedures and funds to restore the land to its natural state. 2. Longer term protection of close sites * A closed mine site can be monitored forever due to the hazardous
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Professional Liability There have been many changes in how healthcare is delivered today as opposed to how it was delivered decades ago when our parents were young. Many years ago there was a close relationship between a doctor‚ patient‚ and pharmacist. There was a considerable amount of trust given to the healthcare professional. They took the time and patience to make sure that their patient received the highest quality of care. Today‚ the healthcare industry is not as personable
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! ! ! Liability for Negligence! 1. The Duty! PURE ECONOMIC LOSS ! Neighbour Test (Donoghue v Stevenson): Care must be taken to avoid acts Salient Features Test (Perre v Apand): Neighbour test is not enough in cases of which you can reasonably foresee would be likely to injure your neighbour. Who are pure economic loss to establish a duty of care‚ which caused a need for further persons I ought to reasonably have in contemplation as I take an action/omission. tests to identify
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01 tecHnicAl analytical procedures relevAnt to AccA QuAlificAtion PAPers f8 AnD P7 AnD cAt PAPer 8 ‘The auditor shall design and perform audit procedures that are appropriate in the circumstances for the purpose of obtaining sufficient appropriate audit evidence.’ (ISA/HKSA 500(6)) To obtain audit evidence‚ the auditor performs one – or a combination – of the following procedures: ¤ inspection ¤ observation ¤ external confirmation ¤ inquiry ¤ reperformance ¤ recalculation
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Resignation & Removal of Auditors Resignation of Auditors Resignation procedures Auditors deposit written notice together with statement of circumstances relevant to members & creditors or statement that no circumstances exist Notice of resignation Sent by company to Registrar of Companies within 14 days Statement of circumstances Sent by auditors to Registrar of Companies within 28 days Sent by company to everyone entitled to receive a copy of accounts within 14 days Convening of
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Audit Planning Name: Course: Tutor: Date: Audit Planning Introduction Auditing is a vital activity‚ in every business activity. The International Auditing and Assurance Standards Board (IAASB) is the overall organization that sets international standards for assurance‚ auditing and other related fields‚ globally. The organization ensures that there is the harmonization of all international and national auditing and assurance standards to enhance uniformity‚ in accounting
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ASOS PLC 1. Carry out a background research on your proposed client and obtain as much information as possible about your client in particular and about the market sector which your client operates in. ASOS originates from or is an abbreviation for “As Seen on Screen” indicating its method of operating business in other words online retailing. It was founded by Nick Robertson and his business partner Quentin Griffiths and it was incorporated in 2000 by its current Chief Executive Officer Nick
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What is an HR audit? : What is an HR audit? An HR audit is a process to review implementation of your institutions policies and procedures‚ ensure compliance with employment law‚ implement best practices and educate your managers. HR Audit refers to an examination and evaluation of policies ‚ procedures and practices to determine the effectiveness of personnel management. HR AUDIT COVERS : HR AUDIT COVERS MEASUREMENT & EVALUATION OF PERSONNEL PROGRAMMES ‚ POLICIES‚ & PRACTICES.
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Edmund 62288211087 Audit 1 Audit Syariah Definition Audit is a process to investigate and verify an account‚ while Syariah is the rule of Islam (Hukum Islam). Therefore‚ Audit Syariah is the process to analyse‚ check‚ investigate and to make sure the operation and the management of Islamic Financial Institution (IFI) is accordance to the principal and the Syariah’s guidelines‚ mainly for the production of a product. Syarikah al-Rajhi al-Masrafiyyah LiL Istismar has define the Audit Syariah as “parties
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