92 WORKING PAPER Internal Auditor’s Perception about their Role in Risk Management Comparison between Belgian and US Companies Gerrit Sarens1 Ignace De Beelde April 2005 2005/304 Department of Accounting and Corporate Finance‚ Kuiperskaai 55/E‚ 9000 Ghent‚ Belgium. Email: Gerrit.Sarens@UGent.be‚ Phone: +32 9 264 35 66‚ Fax: +32 9 264 35 88. Acknowledgment: We appreciate the comments and suggestions on earlier drafts of this paper received from Andrew Chambers (London South Bank University)
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Is the demand for auditing a regulatory artifact or market driven? Pre SEC era: There is evidence that before legislation on auditing existed there were still forms of auditing. In the medieval times there were the guilds‚ later audits were conducted by directors or shareholders of a company. In the 19th century US companies voluntarily contracted for audits. Current data on non-SEC companies In 1977‚ 80% of corporate audit clients of PwC are non-SEC-registrants (Biegler 1977). Privately owned
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What role did sport play during the Cold War between 1960 and 1989? Megums May 26th‚ 2013 (Word Count: 1‚208 words) Written Response In 1894‚ a plan was made to re-enact the olden Olympic Games of Greece by a Frenchman called Baron Pierre de Coubertin (Margol‚ 2). These games occurred since 776 B.C.‚ and were devoted to the Olympian gods ("Ancient Olympic Games."). At first glance‚ sports being played during the Cold War were to be seen as entertainment and “as a combination of religious practice
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201037076 Puriza U. Topic: Using technology to improve internal audit communications in the Banking Sector Background Internal auditing has come a long way over the last two or three decades. In the past‚ internal auditing was seen as a mechanism to double-check the thousands of financial transactions that were posted to the accounts each week. Today an internal auditor facilitates the development of suitable controls as part of a wider risk strategy‚ and provides assurances on the reliability
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What caused World War One? By Donya Bagherzadeh World War I was the result of leaders aggression towards other countries‚ which was supported by the rising nationalism of the European nations. Economic and imperial competition and fear of war prompted military alliances and an arms race‚ which further escalated the tension contributing to the outbreak of war. For Twenty years‚ the nations of Europe had been making alliances. It was thought the alliances would promote peace. Each country would
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Chapter 1—Auditing and Internal Control TRUE/FALSE 1. Corporate management (including the CEO) must certify monthly and annually their organization’s internal controls over financial reporting. ANS: F PTS: 1 2. Both the SEC and the PCAOB require management to use the COBIT framework for assessing internal control adequacy. ANS: F PTS: 1 3. Both the SEC and the PCAOB require management to use the COSO framework for assessing internal control adequacy. ANS: F PTS: 1 4. A qualified opinion
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What are the major regulatory bodies and their functions? IRS (Internal Revenue Service): It is the oldest in the United States regulatory body also called the internal revenue service or IRS. The main goal of IRS is to manage and implement the internal revenue law. Their responsibility is to help individuals to understand their tax obligations as well as to tax collection. SEC (Security and Exchange Commission): SEC also called the Securities and Exchange Commission. Their main objective is
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are: The misstatement arising from misappropriation- this occurs when someone steals or misuses an organizations assets. Perpetrators are usually employees and occur when they gain access to cash or cash disbursement accounts and can manipulate them. Misstatement arising from fraudulent financial reporting- the perpetrators generally doesn’t seek personal gain‚ but want to make the company look better or avoid bankruptcy. They accomplish this by falsely altering account records‚ omission of events
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Hitler and Russian leader Joseph Stalin; this cause triggered the beginning of World War 2. The first reason that the Nazi Soviet pact was a cause of World War 2 was because the agreement Gave Hitler an opportunity to invade Poland because Hitler thought Stalin would be blinded because of the agreement. This caused the war because Neville Chamberlain said he would declare war on Germany if Hitler was to lead Germany to invade Poland. Hitler didn’t think this would happen due to him being allowed to
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com/Global/en/IssuesAndInsights/ArticlesPublications/Documents/International-corporate-responsibility-survey-2008.pdf Metcash Limited Moir‚ L. (2001). What do we mean by Corporate Social Responsibility? Corporate Governance: The International Journal of Effective Board Performance‚ 16-22. Moroney‚ R.‚ Campbell‚ F.‚ & Hamilton‚ J. (2011). Auditing A Practical Approach. Milton: John Wiley & Sons Australia‚ Ltd. Myer Holdings Limited. (2011). 2011 Annual Report. Retrieved from http://media.corporate-ir
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