as "certifying the public reports that collectively depict a corporation’s financial status‚" which involves "a public responsibility transcending any employment relationship with the client." The auditing profession exists to serve the users of an organization’s financial statements. These include lenders‚ investors‚ management‚ government‚ and (indirectly) all individuals who are ultimately affected by the integrity of the financial reporting process. Auditors need to remember that they
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Factors Influencing Auditor Switch: Evidence from A Shares Companies Listed in Shanghai and Shenzhen Stock Exchange in China BY Deng Zhirui 0930600019 BBA-Accounting Li Lujun 0930600064 BBA-Accounting A Business Project Submitted to the Division of Business and Management in Partial Fulfillment of the Graduation Requirement for the Degree of Bachelor of Business Administration (Honours) Beijing Normal University – Hong Kong Baptist University United International
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AUDIT PLANNING Audit planning procedures are the first and perhaps the most important step in carrying out a successful audit. Without adequate planning‚ the likelihood of missing a significant risk area or encountering engagement-related problems increases considerably. As baseball great and noted philosopher‚ Yogi Berra puts it‚ “If you don’t plan on where you are going‚ you could end up someplace different!” All too often the auditor does not give adequate attention to audit planning for a vast
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Do you know what your purpose is? Do you know what drives you? As you think about that question‚ you may be picturing a certain aspect of your life. For example: · Home life · Spiritual life · Work life · Recreational life · School life · Etc. We have compartmentalized our lives. But with God‚ there is no distinction between the different areas of our lives. God has a purpose for our life. Sadly‚ many of us don’t have any idea what that purpose is. · Joke: Did you hear about the little girl
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Standards Introduction Self-regulated: the standards governing audits were established by members of the profession themselves Sarbanes-Oxley Acct of 2002 Created: Public Company Accounting Oversight Board (PCAOB) to provide external and independent oversight over the audits of public entities Responsible for registering public accounting firms‚ establishing standards for audit engagements‚ and inspecting the quality of audits conducted by public accounting firms ****Generally Accepted Auditing
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the reliability of auditors’ reports. It is an attitude of mind characterized by integrity and an objective approach to professional works. A professional auditor should work both independent and seen to be so. Nowadays‚ but‚ the trend of providing non-audit services to audit clients seem to be sweeping accounting firms all over the world; impacts of independence impairment caused by this trend should not be ignored. The Meaning of Independence The essential feature of an audit is its independence
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people’s memories are fairly fallible. This section examines some of the psychological factors that can affect the accuracy of EWT. It is split into two main sections: • • Reconstructive Errors & Leading Questions Weapon Focus and Violence Distraction Reconstructive Errors Many people believe that memory works something like a videotape. Storing information is like recording and remembering is like playing back what was recorded‚ with information being retrieved in much the same form as it was encoded
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All the wealth in the world is useless if you don’t have the health to enjoy it. To me health IS wealth. It’s as simple as that. If one is in good health‚ he can find wealth but show me anyone who can buy good health. Good health is a gift money cannot buy not even with all out latest technology. I am one of those who believe in being happy. I know I will be happy just to be able to jump out of bed every day and go for a run in the park or even trek up the mountain path. I would be terribly
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2318 Information System Audit Outline: 1) Introduction to IT audit‚ purpose Types of IT audits‚ history of IT audit‚ major events that have prompted the use of and been solved using IT audit techniques. IT Audit process outline; process and phases. Planning the audit‚ materiality‚ risk assessment. 2) Effective information system audit. Evaluation of controls‚ types and tests of controls. Audit sampling‚ sampling methods‚ sample evaluation. 3) Audit automation and system
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Example: Audits of Financial Statements‚ Examinations of Internal Control Other Assurance Services Example: CPA ElderCare Prime Plus Services NonAssurance Services Tax Services Management Consulting Services Other Notes: Reliability reduces information risk. Attestation Services To attest to information means to provide assurance as to its reliability Attest engagement: A practitioner is engaged to issue or does issue an examination‚ a review‚ or an agreed-upon procedures report on subject
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