Hong Kong‚ discuss whether auditors are independent in order to protect investors’ interests of Hong Kong listed companies. Auditor independence refers to the independence of internal or external auditor that may have the appropriate capabilities‚ competence‚ authority and time to perform their duties and responsibilities. Independence also requires the integrity‚ objectively‚ professional competence‚ confidentially and professional behavior to audit planning and audit process. To prepare of informative
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adjustments on the financial statements‚ if any‚ as mentioned in the preceeding paragraph‚ the financial statements have been properly drawn up in accordance with IFRS and the Companies Act‚ 1965 so as to give a true and fair view of the financial position of the Group and of the Company as at 30 June 2009 and of their financial performance and the cash flows for the financial year then ended. This is a qualified audit report. 2. The qualified audit opinion was based on two immaterial circumstances
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Running head: Do Professional Sports benefit the economy? Do Professional Sports benefit the economy? William S. Cooper Hodges University Directed Study in Management (MNA4704) Professor Meyers December 20‚ 2009 Abstract Do professional sports have a “major league” impact on the US economy? Most professional sports such as the National Football League‚ the National Basketball Association‚ the Major League Baseball and the National Hockey
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Ethics Case: Livent – When Maria…When? Summary Livent‚ a successful live entertainment company‚ known for performances of Phantom of the Opera‚ Ragtime‚ and Sunset Boulevard‚ was sold in 1998
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DeLL Inc. | Strategic Audit | MAN 4720 – Strategic Management | | Group 7 | 3/31/2012 | Dell‚ Inc. Dell‚ Inc. is an American multinational computer technology corporation based in Texas‚ United States. The company develops‚ sells‚ and supports computers and related products and services. Dell Inc. is one of the largest technological corporations in the world‚ employing more than 103‚300 people worldwide. Dell is listed at number 41 in the Fortune 500 list (2011). It is the third largest
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AUDIT EXPECTATIONS GAP Definition i) Liggio (1974a) defines it as the difference between the levels of expected performance as envisioned by the independent accountant and by the user of financial statements. The Cohen Commission (1978) on auditors’ responsibility extended this definition by considering whether a gap may exist between what the public expects or needs and what auditors can and should reasonably expect to accomplish. ii) According to Guy and Sullivan (1988)‚ there is a
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AUDIT PLANNING AND CONTROL 1.0 LEARNING OBJECTIVES After studying this chapter‚ readers should be able to understand: ! The general concept of audit strategy. ! The Importance of audit strategy as an effective plan for an audit. ! Internal control systems‚ evaluation and assessment. ! Audit documentation. ! Relationship with experts. ! Audit risks and its relative importance to audit. ! Components of audit risks. ! How to assess audit risks. 1.1 INTRODUCTION Auditing has developed over many years
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Question 1 – Develop an awareness of the client situation (a) List five (5) topics you would discuss with Sarah and Stan at your first meeting. Why are these topics important? Give a brief reason for the need to discuss each topic. (Each discussion topic: 1 mark each ‚ Reason: 1 mark each) 10 marks 1. Personal Details As a financial planning organisation we are subject to certain legislative and regulatory requirements which necessitate us to obtain personal information about Sarah
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Systems PRE-RELEASE CASE STUDY JUNE 2015 * 4 8 5 4 3 0 9 5 2 6 * INSTRUCTIONS TO TEACHERS • This pre-release material may be given to candidates at any time after receipt by the Centre. INFORMATION FOR CANDIDATES • • • • • You may make yourself familiar with the pre-release material before you take the examination. You must not take notes into the examination. A clean copy of this pre-release material will be given to you with the question paper. You must not take this copy of the pre-release material
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regulators have searched for mechanisms to achieve a return to reliable‚ high quality financial reporting‚ resulting in an increasing emphasis on corporate governance. In addition‚ regulators and investors have increasingly recognised the role of audit committees and an important corporate governance mechanism in restoring confidence in the capital market. The ASX Corporate Governance Council (AXS CGC) defines corporate governance as “the framework of rules‚ relationships‚ systems and processes
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