1. Auditor Liability in Canada A & B Is it reasonable for a potential investor or existing shareholder to rely on audited financial statements that a corporation makes available for public consumption? Should an investor be able to sue a corporation’s auditor if audited financial statements materially misrepresent the financial status of the company audited? a. Should a potential investor only be able to sue the corporation? b. Should there be any limit on the auditor’s liability?
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a. There are three ways of managing reported earnings and the reasons behind each way may be different. (1) Report lower earnings. Managers intend to report lower earnings for mainly three reasons. Firstly‚ they want to hide profit for future use. In some years‚ the company presents a strong performance and has earned huge profit; however the manager may worry that the company’s future performance would not be as strong as current year‚ which gives them the incentive to save the profit by reporting
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Explain both the general principles of Utilitarianism and the distinctive features of Mill’s Utilitarianism. Utilitarianism is a teleological and consequentialist theory as it focuses on whether an action is good or bad depending on the outcome‚ regardless of what the act may be. For example an act could be a horrible one‚ i.e. murder but if it brings about a good consequence it’s seen as a good act. J. Bentham devised the greatest happiness principle which states that an action is right if it results
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positions hurts Field Auditor 2 (Senior Auditor) and Field Auditor 3 (Internal Auditor). That’s just the classification they can be called anything; however‚ it hurts because it’s what’s indicated on the job description. Additionally‚ they posted the minimum salary of $33K & 30K which I’m going to pay a lot more than that which of course hurts things. I’m working with HR to remove the minimum salary‚ move to mid range‚ or something for the next posting. I’m sure that will
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With qualified products and good service‚ VIPEAK supplies series Raymond Roller Mill(Raymond Mill)‚we also have others Grinder mill andPowder mill. which is suitable for grinding barite‚ calcite‚ potash feldspar‚ talcum‚ marble‚ limestone‚ ceramics‚ etc. Grinder mill: http://www.vipeakmill.com.Vsi Crusher: http://www.crushermobile.com First material should be crushed into the desired size by Jaw Crusher‚ and delivered to the Silo by Bucket Elevator. Our Designed Vibrating Feeder will feed the material
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Recommendation Brief for an Internal Auditor When a company is experiencing difficulty controlling their accounting functions‚ hiring an internal auditor may alleviate some of the problems. Internal auditors may perform a variety of services including operational audits‚ compliance audits‚ and financial statement audits. Additionally‚ an internal auditor can assist in development of internal controls and evaluate the effectiveness of computer systems (Arens‚ Elder‚ & Beasley‚ 2006). A company
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1. Warm Delights is in the single-serve cake treat category. 2. (a) The target market is on the go women who want a small dessert treat. (b) A point of difference would be that it is convenient due to that it comes in its own bowl. (c) A potential opportunity would be that Warm Delights is positioned as a snack instead of as a dessert. A hindrance could be that while marketing it as a snack versus a dessert‚ it may have more competition. Also by marketing it to women‚ you may be losing other
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The European Court of Auditors Introduction The European Court of Auditors is the fifth institution of the European Union (EU). It was established in 1975 in Luxembourg to audit the accounts of EU institutions. This report will cover 3 aspects which are history‚ organization and president. Then it will give some criticism about the declaration of assurance and the size of the court. History The Court of Auditors was created by the 1975 Budgetary Treaty and was formerly established on 1977-10-18
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ACCOUNTING REVIEW Vol. 77 Supplement 2002 pp. 175–202 Evidence from Auditors about Managers’ and Auditors’ Earnings Management Decisions Mark W. Nelson John A. Elliott Cornell University Robin L. Tarpley The George Washington University ABSTRACT: This paper reports analyses of data obtained using a field-based questionnaire in which 253 auditors from one Big 5 firm recalled and described 515 specific experiences they had with clients who they believe were attempting to manage earnings. This approach
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Q 2.5 ■ The external auditor is the person appointed by the local government under the Local Government Act 1995 to undertake an audit of the accounts and financial report for each financial year. ■ The internal auditor is the person appointed by the local government to undertake an audit of the adequacy and effectiveness of the internal control structure and may include financial controls‚ legislative compliance‚ information systems‚ employment practices and risk management. The primary role
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