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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’Is it possible for auditors to achieve absolute independence and what regulations should be imposed to attain or maintain independence?’ Auditor independence requires auditors to take an unbiased viewpoint in the overall performance of the audit report‚ and therefore maintain the fundamental principles of integrity and objectivity. Auditor independence is possible‚ however it is quite hard to achieve as it requires auditors to meet all the guidelines set out by AASB and statutory requirements
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Why are slow moving fish so fascinating to learn about? I have searched online about fishes and have learned how to classify each kind of fish. In addition‚ I took the Marine Science - oceanography class‚ so I have some information and knowledge about fishes. There are 3 types of slow moving fish that live in a reef environment. The first type of slow moving fish is sea-dragon fish. The sea dragons are small and strictly when they find food to eat. The sea dragon doesn’t have fins like other fish
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Independence of external auditor By:- shubham kanchhal Auditor independence refers to the independence of the auditor from parties that may have a financial interest in business being audited. Independence requires integrity and an objective approach for the audit process. This concept requires the auditor to carry his work freely and in an objective manner. The purpose of an audit to enhance the credibility
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Financial Reporting Problem‚ Part 2: Nike ACC/290 Financial Reporting Problem‚ Part 2: Nike When determining the overall financial strength of a company‚ businesses rely on their current assets to show value. Current assets are defined as assets that can or will be converted into cash quickly. The value of the asset’s will vary and may be used at any time as collateral for loans or other investment business development plans. Current assets will include‚ of course‚ cash and cash equivalents
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effective in preventing major scandals on the lines of Enron and Worldcom. 1.0 ABSTRACT 2.0 ENRON-CORPORATE FIASCOS 3.0 HOW DID THE AUDITORS FAIL TO CATCH PROBLEMS AT ENRON? 4.0 HOW TO PREVENT RECURRENCE OF ENRON? 5.0 NEW RESPONSIBILITIES OF AUDITORS ACCORDING TO SARBANES-OXLEY ACT 2002 6.0 CONCLUSION 7.0 REFERENCES 1.0 ABSTRACT The responsibility of an auditor is to express an opinion on the financial statements based on his audit which means verification or check in accordance with International
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To bridge the perceived information gap‚ and to satisfy the information requirements of the standard setters‚ narrative reporting has come to the fore. In its various guises – Business Review‚ Management Commentary‚ Management Discussion and Analysis‚ Chairman’s Statement‚ Corporate Governance Statement‚ Environmental Statement‚ Remuneration Statement‚ and Health and Safety Statement – narrative reporting is now a significant segment of the annual report in many parts of the world. It has supplemented an
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The Loyalists were the people who didn’t want to be divided from the Britain. The Loyalists were loyal to the Britain although they weren’t being treated as a human‚ by the Patriots. If you were a Loyalist you would be hanged or immediately sent to jail. And families that were patriots and loyalist would be separated. The patriots stayed in the thirteen colonies and the loyalists came to what is known as Canada now. Loyalists ancestors descend from places like England‚ Scotland‚ and Ireland. The
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incentive to save the profit by reporting a managed lower earning‚ so that in the future they can use the hidden profit to powder the company’s financial report. Secondly‚ managers are trying to avoid taxation by reporting a lower profit. Usually they will report more expenses and costs than real‚ so there will be less tax to pay. Lastly‚ the company may have a plan of issuing options to managers‚ and they may try to decrease the share price by reporting a lower earning so that they can set the exercise
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Explain why the Arab invasions of 710 and 711 were so successful. In answering this question we must first appreciate the difficulty historians face in discovering the real truth of the early Arab invasions‚ a fact well demonstrated in the varying estimates of Arab invasion forces (ranging from 1‚700-9000 in current publications). Scant contemporary evidence exists beyond a short narrative present in a Spanish chronicle of 754‚ a vital surviving Islamic administrative document of the time‚ and
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