Chiu & Weisserman LLP has been appointed as the new auditor of the public company Dollarama Inc. for the current fiscal year-end as at January 29‚ 2012. Please find in the following pages a report on the audit plan that was used to conduct our audit for the year ended January 29‚ 2012. Even though the audit of 2012 was performed by PWC‚ the assumption used for this project was that our firm was the new auditor for 2012. Please do not hesitate to contact us if you have any questions. Yours Sincerely
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Engagement Letter: LILTS BERGER & ASSOCIATES Certified Public Accountants Ocean City‚ Florida 33140 October 30‚ 2015 Mr. Donald Phillips‚ President Oceanview Marine Company 36 Clearwater Lake Road Ocean City‚ Florida 33140 Dear Mr. Phillips: This letter is to confirm our understanding of the terms of our engagement as the auditors of Oceanview Marine Company for the year ended December 31‚ 2014. We will audit the company’s balance sheet for December 31‚ 2014‚ and the related statements of
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department checks that goods and services requested are necessary purchases and consistent with the best interest of the company i.e. not for personal use. Refer to lecture note: Most companies have different levels of general authorisation depending on the type of purchases. Weakness Strength Audit procedure (To what‚ for what) Objective There are no proper procedures for authorisation. Purchase requisition does not need to be approved by authorised personnel. This may results to unauthorised
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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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You can not just the book by its cover Reunion by John Cheever is a short story about a son and a father who had not seen one another for 3 years after his mother divorced him. The son looked back to the day where the reunion took place. At the beginning of the story ‚ readers can see the son’s glad feeling with his opportunity meeting his father and his high expectation of his long-time-no-see father. The reference the son had to his father at the beginning is the image of a noble‚ rich
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current issue and full text archive of this journal is available at www.emeraldinsight.com/0268-6902.htm Past control risk and current audit fees Past control risk Thomas G. Calderon‚ Li Wang and Thomas Klenotic George W. Daverio School of Accountancy‚ The University of Akron‚ Akron‚ Ohio‚ USA 693 Abstract Purpose – The authors posit that audit fees are driven by historical risk factors and risk encountered in the current period. The purpose of this paper is to focus on historical
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Audit exam 1 Study online at quizlet.com/_flu67 1. A Which is usually included in an engagement letter? (A reference to GAAP/A reference to GAAS) A. Yes/Yes B. No/No C. Yes/No D. No/Yes 2. A Which of the following statements is true? A) Auditors have generally found that the most effective and efficient way to conduct an audit is to obtain some assurance for each class of transaction and for the ending balance of the related account. B) Management ’s assertions follow and
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2 Five Forces Analysis 2 Threat of new entrant 2 Bargaining power of customers 2 Bargaining power of suppliers 2 Threat of substitute products or services 3 Intensity of competitive rivalry 3 PEST Analysis 3 Political Factor 3 Technology 3 Economic Factor 4 Socio-Culture Factor 4 Strategic Issues 4 Conclusion 4 References 5 1. Introduction A newspaper is usually a daily or weekly publication which have lasted news about some events or information of special
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between fixed charge and floating charge are easy to recognize charges with certain assets are known as fixed charges. Charges created on assets that change regularly are floating charges. Fixed charge is special nature do not like floating charge is dynamic. There is a voluntary in moveable asset and compulsory in fixed charges for the registration. On the other hand‚ when there is a floating charge‚ the registration is mandatory regardless of the type of assets. Fixed charge is a legal charge while floating
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system.” Why have minor parties been so unsuccessful? Why have minor parties been so unsuccessful? Well there are many reasons‚ including their parties way to young‚ our political system‚ and lastly different ideologies of the parties cause them to be unsuccessful as well. So to begin with‚ these minor parties are way too young. The Democratic and Republican party has been here for at least 200 years. And in those 200 or so years‚ they have continually showed ideologies that have been consistent
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