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Auditing
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...Auditing Auditing Auditing is a very crucial activity in any successful organization. Audit services providethe shareholders of a company with professional information and opinion on whether their company financial statements reflect the actual state of affair as they are on the ground (Lehman, 2010). For these reasons, the topic will be of research to determine and explore the independence of auditors in terms of the audit quality, non-audit service fees, and non-audit service (Campbell and Houghton, 2005). Non-audit services are professional services...
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Auditing
7 pages (1750 words)
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...AUDITING Table of Contents Introduction 3 Globalisation 3 Effects of Globalisation on Accounting and Auditing 4 Auditors and Auditees 5 Driving Factors 6 Changes in Audit Process 7 Conclusion 8 References 9 Bibliography 12 Introduction The term “globalisation” has become the most discussed buzzword among the academicians, politicians and economists in recent times. Various driving factors and inherent benefits for different companies are proving to be incentives for the organisations towards enhanced financial globalisation. The growing interdependence of developed economies on developing and emerging economies is contributing towards...
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Auditing
8 pages (2000 words)
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...AUDITING Introduction E-Commerce and other rapid developments in technology are making the modern businesses too complex. In a big business firm, a large number of financial transactions are performed every day. Therefore, it is necessary for shareholders and concerned parties such as bankers and creditors to ensure the authenticity and accuracy of overall business operations. Auditing is the only alternative for a firm to interpret the outcomes of its previous year’s operations and to assess the current status of affairs. The given case reflects the auditing operations in Cheaphol plc by Winters & Co. The Cheaphol plc is a tour operator, who had been performing its business... (Assignment) Case Study...
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Auditing
3 pages (750 words)
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...Auditing Introduction Mr. Kristos Le Droit is newly elected treasurer of mid-sized charity ly LOACH. After being appointed as the treasurer of LOACH, Mr. Kristos has dismissed the current audit firm and sought for tenders for a new audit firm. Several other members in the charity has revealed disappointment on the decision to dismiss the current audit firm and believes that since the audit firm was rendering its service for more than 15 years, everyone in the charity was very comfortable with the firm’s auditor. Besides, board members also revealed their concern about the issue that might be disclosed if a...
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Auditing
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...auditing Auditing of the of the of the Introduction The US congress has accepted the fact that gambling in the form of legal gambling has the potential to add economic value to several states in a significant manner. Legalization of gambling has been appreciated and embraced by majority of Americans. However, legalization of gambling is still under the scrutiny and surveillance mainly because of the amount of money associated with it requiring adequate measures and controls. Casino style gaming legislation involves series of opposition and controversies along with a number of standards through which the long term feasibility and authorization can be measured in an effective manner... Running Head:...
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Auditing
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...auditing techniques, tools and instruments. Nevertheless, auditing is facilitated from these procedures as they could also help in identifying the areas where there are chances for greater ‘audit risk’. Indeed, the applications of such procedures are extremely helpful as they enhance the auditors’ awareness of various underlying areas in a business entity, which had not been touched upon in past and thus require more attention to identify possible auditing risks. Finally, analytical review procedures are largely based on periodic ‘financial information, management accounts and budgets’ (Internet: frc.org.uk, 1995). It should be pointed out that auditors could use... Answer Analytical review procedures, ...
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Auditing
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...Auditing Table of Contents Question 2 3 Question 3 4 Question 4 6 Question 5 7 Question 7 8 Works Cited 11 Question 2 “The tone at the top” is the term used to denote most significant component for encouraging trustworthiness in organization as well as truthfulness in financial controls. For any organization, the top level persons such as CEO or Directors set the tone for commercial performance and corporate governance for any company (Crowe Horwath, “Setting the Tone at the Top: Sustaining Ethical Behavior”). The case of Societe Generale provides a perfect example indicating the importance of auditing in an organization. Due to reluctance of tone of...
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Auditing
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...Auditing Affiliation Issues involved in client acceptance and renewal. Client acceptance and renewal is a decision that has to be made complying with the professional standards. By so doing, various issues are investigated to ensure credible client acceptance and renewal. Among the issues involved are professional standards that are quite a number. To start with, the firm should have the qualifications needed to undertake the engagement (Bierstaker, Brazel, Caster & Reed, 2010). The firm should be free of illegal acts and honest management of the reporting entity. The financial reporting scheme and internal control scheme of the client should give an on hand financial...
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Auditing
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...Audit and its Application in Emerald Fitness Studios 4 3.0 Objectives of an Entity’s Internal Control System (ICS) 6 4.0 Elements of an Internal Control System 7 5.0 Roles of Directors and Statutory Auditors in ICS and Risk Management 8 6.0 Internal Control Deficiencies in Emerald Fitness Studios 9 7.0 Conclusion 11 8.0 References 12 Internal Control Deficiencies (Emerald Fitness Studio) 1.0 Introduction Statutory auditing is an assessment process that public companies undertake because it is a requirement of the law. Most statutory auditors... Internal Control Deficiencies (Emerald Fitness Studio) Contents Internal Control Deficiencies (Emerald Fitness Studio) 4 1.0 Introduction 4 2.0 Risk-based Audit a...
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Auditing
10 pages (2500 words)
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...auditing process which auditors report remained relatively the same for the 40 year period starting in 1948 until 1988 (Strawser, 1990). During this period the users of the financial information complained a lot about the independent auditor’s report because they were not consistent in their message and their reports were at time interpreted differently by different users of a same report, a situation which should never occur since the accounting profession is based on reliability, consistency... Auditors are responsible analyzing the financial report of companies in order to reassure the general public that the financial information and financial reports that the companies are providing are in a...
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Auditing
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...Auditing Auditing is one of the most important activities in a business organization. It is especially beneficialto the shareholders of a company. It is important to note that the shareholders do not participate in the day to day learning of the organization. Instead, they hire managers and directors to perform the day to day operations. The managers present a financial report to the shareholders indicating the performance of the organization within a financial year or within a given period as the shareholders may require. Since the financial statement may contain errors or omissions, an auditor is usually hired to verify the statements before they are...
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Auditing
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...Auditing Standards (SAS) 69. The Sarbanes Oxley Act (Section 302) also requires the company's management to ensure fair reporting of financial information in the financial statements (McEnroe, 2005). Sarbanes Oxley Act (section 404) requires the management to report on the internal control with respect to financial reporting, whereas auditors need to provide their opinion on the effectiveness of internal control. This section... Requirement A company's management utilizes the internal control process to ascertain the accomplishment of these three objectives viz. effectiveness and efficiency of operations, reliability of financial reporting and compliance with applicable laws and regulations....
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Auditing
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...Auditing 300 i. Confidentiality, professional competency, due care, professional behaviour and integrity are some of the fundamental audit principles (Wild, Shaw and Chiappetta 2011, 811). These are standards that an audit member must adhere to in order to uphold integrity in the profession. In the above problem, Bob has breached the confidentiality principle; this is an ethical principle and legal obligation of discretion which require non disclosure of information except to the client and audit committee about the findings or any material uncovered during the course of audit. This is unless permission is...
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Auditing
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...Auditing Grade 18 August i)    In the first situation, there is a breach of professional standard while taking financial information of the other company for completing Bob’s university studies without disclosing the name of the company or the client. While undertaking the duties, it is necessary that the auditor should disclose all material matters in order to provide a better and clear idea. Another fact is that while conducting audit, “users derive value from the knowledge that a member of the profession has no interest in the information other than for its usefulness” (Christopher, 2012, slide. 9). He has the right to use such information for...
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Auditing
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...Auditing Q Fraud triangle is the framework designed to explain and analyze the reasoning behind an employee’s decision to commit workplace fraud. Donald Cressey the concepts of the fraud triangle in the 1950s after interviewing 200 convicted embezzlers whom he termed trust violators in the Midwest. It involves three the following three major steps, pressure, opportunity, and rationalization. The pressure part of the fraud triangle examines and analyses the motivation lying behind the crime. The motivation can either be personal financial pressure like debt problems or workplace debt problems like shortfall in revenue or non-financial aspect like pressure for good results...
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...Auditing Question 4 An organization has to adhere to the standards formulated by regulatory bodies. Standards are essential ingredients to the development of appropriate principles and procedures to be followed (Gomez, 2012). Audit procedures should be consistent with auditing standards. This offers the auditors with guidance on their tasks and acts as a yardstick for the evaluation of the audit work done. When the auditors were carrying out their work on BP p.l.c, they complied with the field standards, general standards and reporting standards n auditing. The general auditing standards...
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...audit process. A report by an auditor is a complete review... in the normal day to day running of the business. However, these companies are not obliged to display the information for public reviews or even to file their report with the authority. Despite that the financial statements can be generated at any given time; they are produced periodically by a certified public accountant as a component of the audit process. According to the law, a company should hand over its books at given intervals; an audit is a vital part of the restrictive control of public companies. It needs reviewing of the company’s records by an autonomous third party who then gives an...
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Auditing
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...Auditing: Concerns Relating to Hospitality Industry The main reason why the hospitality industry is more exposed to fraud is because they focus more on customer satisfaction. The prime job of manager and other employees is to provide a high level of customer satisfaction. That is the main reason due to which the management, sometimes, ignores the main issue of internal financial controls and, as a result of that, we see a large number of frauds or misrepresentation. 1. Physical Theft of Inventory The biggest risk, to which hospitality industry is exposed to, is physical theft of inventory. There are lots of employees and guests who are in position to harm the physical assets of the hotel... ...
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Auditing
4 pages (1000 words)
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...Auditing Table of Contents Subsequent Events 3 Solutions 4 Reference 8 Bibliography 9 Subsequent Events According to the Auditing Standard under section 560, when external auditors conduct auditing in a firm, they usually refer to the historical financial evidences that connect to the present financial statement. In this process, it may happen that the transactions might have occurred after balance sheet date but before the issuance of the financial statement. This affects the financial statements and therefore adjustments are made and properly mentioned in the statements. These occurrences are known as subsequent events.1 There are two...
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Auditing
8 pages (2000 words)
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...AUDITING Introduction E-Commerce and other rapid developments in technology are making the modern businesses too complex. In a big business firm, a large number of financial transactions are performed every day. Therefore, it is necessary for shareholders and concerned parties such as bankers and creditors to ensure the authenticity and accuracy of overall business operations. Auditing is the only alternative for a firm to interpret the outcomes of its previous year’s operations and to assess the current status of affairs. The given case reflects the auditing operations in Cheaphol plc by Winters & Co. The Cheaphol plc is a tour operator, who had been performing its business... ? (Assignment) Case Study...
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Auditing
6 pages (1500 words)
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...Auditing Task Introduction The preparation of financial ments is in compliance with the requirements of company law. Different bodies provide the guidelines for preparing the financial statements. The reason for the framework for the preparation of financial statements is the difference in laws prevailing in different countries. In a bid to ensure conformity and uniformity, bodies such as the International Financial and Reporting Standards prepared rules and regulations that should be followed when preparing the financial statements (Foster & Greenawalt 1995, pp. 1-5). Precisely, the primary purpose of the accounting framework is to ensure that the users of financial...
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Auditing
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...Auditing Stagecoach Company is among the leading transport companies in the United Kingdom. The company is a quoted company and that means that it has to publish its financial reports on an annual basis. The reports are usually published so that the stakeholders of the company can use them. The stakeholders include the shareholders, government, and the employees of the company. In the preparation of the audited report, the auditor has to be aware of the risk areas that can be changed to make the financial statements of the company look more appealing to the stakeholders of the company (Emerson, 212).The risk areas include the following, 1. Overstating of...
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Auditing
2 pages (500 words)
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...Auditing Nonstandard audit opinions refer to reports formulated in instances where auditors deem it mandatory express misgivings of opinions. This is normally done in cases where accounting statements failed to be prepared according to the Generally Accepted Accounting Principles (GAAP). They may also be essential when auditors are not able to gather substantial proof required in the formation of an outlook. These outlooks or opinions may be qualified, adverse or be denied or disclaimed. If qualified, they give a just presentation exclusive of particular issues aforementioned in the commentary. Adverse views are those that auditors believe to bear...
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Auditing
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...auditing professions to become "assurance professions." Here, we explore the difference between assurance services, attestation services and auditing services. Furthermore, we discuss economic issues that drive increased demand for assurance services. We also identify one assurance engagement and one attestation engagement other than an audit of financial statements and the differences between them. There are certain differences between assurance services, attestation services and auditing services. Assurance service is an independent professional service, typically provided... The American Institute of Certified Public Accountants (AICPA) and the Institute of Internal Auditors (IIA) have positioned the...
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Auditing
6 pages (1500 words)
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...auditing 7th December Introduction As companies engage in local and international operations, management have emulated various strategies in order to maximize the use of their financial resources to cater for the expansion of their firms. Similarly, managements have taken strategies to ensure accountability in the use of funds in order to create a strong positive relationship with the shareholders. One of practice that firms use to ensure reliable financial information is auditing. Auditing entails a systematic examination of records, financial performance, and statements. The auditor is responsible for collecting and evaluating the evidence in order to make an opinion on the financial... ?Running head:...
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Auditing
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...audit. The auditing can be described as the examination and statements of accounts and of other documents connected with accounts by other persons who have had no part in the preparation of the financial reports (Yahoo, 2006). Financial auditing can be performed on the entire financial system of an enterprise or on specific areas of the system. This paper describes the auditing procedure based on a case analysis of a company called Telechubbies. An auditor who works for a mid size firm takes on the assignment of auditing Telechubbies... In the accounting profession the way to verify if the information provided by the accounting department to internal or external users is correct is by performing an...
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Auditing
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...Auditing O’Leary’s Accounting and Inventory Management Systems Introduction External auditing is performed in order to identify the operational and strategic weaknesses and deficiencies which may elude the organizational participants of the particular company (Platts & Gregory, 1990). In this case, the company is called O’Leary that is primarily working to provide the customers with their orders through courier services. However, in more technical terms, the company is housing a trading business and it has one sales representative who is responsible for maintaining close relations with suppliers and customers respectively. The deficiencies in the system...
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Auditing
8 pages (2000 words)
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...audit of Zebra Property Limited, a Melbourne electronics firm. This will involve the critical review of the risk factors and materiality issues that relate to the audit. The paper will examine the audit strategy and the formulation of the materiality threshold. A. Risk Factors in the Audit The basic requirement of this audit is to pass an opinion on whether the financial statements of Zebra Limited prepared for the year 2012 – 2013 is free of material misstatements and reflects the true and fair view of activities that occurred in the period. Audit risk refers to anything that will prevent ABC... Introduction This is a practical review of a case relating to ABC Chartered Accountants dealing with the...
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Auditing
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...Auditing 06 August 2009 Big 4 – An Introduction The Big 4 global auditing firms are in order of size: the Pricewaterhouse Coopers (biggest in revenue terms at US$28.20 bn in 2008)), Deloitte Touche Tohmatsu, Ernst & Young and KMPG (smallest at US$22.70 bn in 2008). Two decades ago, there were eight global auditing firms that provided services along three main product lines: audit, tax and advisory (professional management consulting). There are only four today with the split of the fifth, Arthur Andersen, into a consultancy firm (present-day Accenture) from its accountancy business that is no longer considered a viable...
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Auditing
6 pages (1500 words)
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...Audit risk. Audit risk is the risk which occurs when an auditor expresses inappropriate audit opinion due to material misstatements (Kumar and Sharma 2006). This report will discuss several audit problems which can impact the materiality of financial statements. Wentworth Brewster limited specializes with the manufacture of sports equipment. All... ………………………………………………………………………….xxxxxx …………………………………………………………………….xxxxxx …………………………………………………………………………xxxxx ………………………………………………………………………..xxxxx @2013 Introduction Auditors work is to verify documents, examine them and do tests of details. In the process, it is their duty to detect fraud or error. However, the auditor can fail to detect any errors or fraud due to Au...
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Auditing
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...Auditing Auditing Auditing is a systematic and independent examination of ments, operations, data and records of a firm. An auditor is the official who does the accuracy of business records. It is apparent that he can be an independent auditor unaffiliated with the company or a captive auditor. The auditing process involves the auditor perceiving the propositions before him for examination. He also collects evidence and on his basis formulating the judgment which is communicated through an audit report. It is evident also that audits provide third party assurance to various stakeholders...
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Auditing
10 pages (2500 words)
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...Auditing Place Audit Committee Address: Sub: Deficiencies’ in the Internal Control System relating to Inventory The stock take for Farhan Muscat SAOG Company is made for the purpose of counting and calculating its all items in stock and recording the outcomes. Such audit activity will ensure the accuracy of the stock records; the value of stock will be verified and shown in the balance sheet through physical confirmation. The analysis of stock value will detect wastage at the early stage and will promote reducing and eliminating of goods. It will also help to reveal any weakness within an organizational system for control of stock. The...
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Auditing
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...Auditing Auditors have been unable to maintain the necessary level of objectivity and independence from ” The duties and functions of an auditor involve delicate decision-making process, which has the potential to make or unmake a company. His position in the company requires outmost integrity and confidence since his/her work would give him/her the power to access books and records of the company and the explanations of transactions it entered into. The powers of the auditor sometimes put him/her in a tight position that calls for regulations and ethical standards to the test. UK auditing standards were developed by the Accounting Practices Committee (APC) from 1976 to 1991 and were issued... ...
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Auditing
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...Auditing Part A 054 words Part B: 778 words March 27, Introduction The audit process entails determining whether the Havelock Europa Plc financial reports are true or correct (Havelock Europa, 2013). Untrue and incorrect financial reports include erroneous financial statement amounts (Arens, 2011). Errors are unintentionally misstatements are due to human errors. On the other hand, fraudulent financial statements include figures that were intentionally inserted by one or more company employees, possibly conniving with the external auditors. The research delves on the five areas of heightened audit risk. Auditing must...
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AUDITING
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...AUDITING and Introduction The process of auditing requires an evaluation of the specified items to ensure that the report is aligned with the reality. This essay will attempt to do an audit of rent stock, liabilities and the receivables of Wentworth Brewster limited. The company manufactures sports equipment. Their main customers are private gyms as well as specified retailers. The information regarding the four items is retrieved from the trial balance that is dated March 31st 2011. The essay will address the four items listed identifying the extent to which they have been audited in order to review any...
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Auditing
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...AUDITING Areas with heightened audit risk in Abbey PLC. annual report The current business world is very dynamic; it is unpredictable, volatile and fraught with risk. Businesses since the time of immemorial, have seen risk as an unavoidable evil, which should be mitigated or minimized at all costs. Abbey PLC. is not exceptional. As an auditor for the company, the three main areas with heightened audit risk are the audit of inventories, which include cash, fixed assets, and receivables. Secondly, expenses such as payment of salaries and creditors is another area, which the auditor should look at it closely. Thirdly, revenue...
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Auditing
4 pages (1000 words)
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...Audit Risks Facing Havelock Europa PLC Introduction Havelock Europa Plc is a UK based company that provides interior design services to its clients who include major banks, construction companies, school authorities and retailers. After going through their financial statements for the year ended 31st December 2013, several areas of heightened audit risk are observed. Audit risk refers to that risk that auditors are not likely to observe due to some error or fraud (Lewin 2010, p. 218). The auditors are likely to issue an unqualified opinion although some inherent risks exist but cannot be easily identified. The following are the five main areas of high audit risk that face Havelock Europa Plc...
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Auditing
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...Auditing Introduction Auditors issue normal audit report unless they have substantial doubt about the going concern concept of the entity. Going concern is a concept “where the entity is assumed to continue in existence for the foreseeable future, the extent of which varies from entity to entity influenced by the nature of entity’s business, its business risk, and external influences.”(Lain Gray and Stuart Manson, page 674)i This concept is related with continuation of activities in the normal and regular course of business activities. That does not means that seasonal business that is periodically interrupted is not a going concern. In fact seasonal interruption are routine... and regular...
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Auditing
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...Auditing Answer i) Confidentiality is one of the professional standards which should be maintained by the professional accountant or audit assistant of a firm. An audit assistant should respect the confidentiality of information acquire as a result of business and professional relationships and should not disclose information to parties other than those involved in the contract unless there is a professional or legal duty or right to disclose. However, acquiring of confidential information as a result of the business and professional relationship should not be put to use for third parties advantage or that of auditors. The alternative...
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Auditing
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...Audit Risks 2 Group Accounts 2 Foreign Currency 3 Intangible Assets 3 Provisions 4 Taxation 4 Intangible Assets: Increased Risks and Audit Procedures 5 Valuation 5 Impairment 6 References 8 Audit Risks The audit of the company Mobile Streams Plc. is followed by risks as the nature of the business tends to increase the risks. With the increased risk as per the operations of the company there are risks involved for the auditors where the auditors shall not be able to discover the material misstatements in the financial statements whether intentional or non-intentional (Philip & Michael, 2007). The risks involved in the audit of this company is analyzed and elaborated. The analysis... Table of Contents...
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Auditing
6 pages (1500 words)
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...Auditing Task Introduction The users of financial ments rely on the information released by the providers of such information for decision-making. There are various users of financial statements with different needs as follows: lenders, suppliers and other trade creditors, employees, investors, customers, government and their agencies, and the public (Lasher 2008, pp. 63-65). The users need the information for decision-making purposes. The paper presents three areas of heightened audit risk and the substantive procedures necessary to reduce the audit risks to an acceptable low level based on the case of Mobile Streams PLC. Part...
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Auditing
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...Auditing Table of Contents Question 12.4 3 Question 12.7 4 Question 12.14 6 Question 12.17 7 Question 12.31 8 References 10 Bibliography 11 Question 12.4 Date is important to judge the right of an entity to assert an asset. It is also essential to evaluate whether the asserted liabilities are obligation to an entity or not. Date plays a crucial role in the audit report as for occurrence of any major changes between the date of report and issuance of the report require adjustments in the financial statement. Balance sheet data, date of audit report, date of issuance, all these plays a significant role as changes or occurrence of any events before and after these dates might have an effect... ...
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Auditing
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...audit risk are mentioned below and these are categorized as inherent risk, control risk or detection risk. Inherent risk (IR) Inherent risk can be defined as the risk that an account balance, disclosure or a note... Nathans Finance NZ Limited Nathans Finance NZ Limited Managing Partner, Ben Ron Chartered Accountants From: Senior Associate Date: May 5, 2014 Subjects: Analytical Review Dear Sir, This report has been prepared as per our discussion, to highlight the probable risk areas in the financial report of Nathans Finance NZ Limited. I have performed analytical review and the results of the same are mentioned below under different headings. (1)High Risk Areas Some of the items that may result in audit...
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Auditing
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...auditing? Introduction The auditors play an important role in the decision making purposes. They have the responsibility of assessing the authenticity of the financial statements. The financial statements are used by the owners of the organizations for evaluating the management stewardship (Okpala, 2012). It is also used by the investors in their decision making process, related to purchase or sell of the securities. The auditors guide the investors and owners in their decision making process. The effective utilization of financial statements requires understanding of the functions of auditors as well. As the financial statements... are the representation of management, it becomes very...
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Auditing
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...Auditing Tetonic As an auditor I will know that all the minutes have been made available to me by referring to those of previous meetings. This is because the minutes of each meeting entails what was discussed in the previous meeting and by going through the minutes, I will be in a position to check the dates, members in attendance, agenda helping me trace if all the minutes have been availed. As an auditor it will be my responsibility to inquire from the board and management to fully acknowledge to me that all documents containing the minutes have been availed to me and also my client should allow me to access all the documented minutes including the minutes the next...
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Auditing
6 pages (1500 words)
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...Audit risk. Audit risk is the risk which occurs when an auditor expresses inappropriate audit opinion due to material misstatements (Kumar and Sharma 2006). This report will discuss several audit problems which can impact the materiality of financial statements. Wentworth Brewster limited specializes with the manufacture of sports equipment. All... ………………………………………………………………………….xxxxxx …………………………………………………………………….xxxxxx …………………………………………………………………………xxxxx ………………………………………………………………………..xxxxx @2013 Introduction Auditors work is to verify documents, examine them and do tests of details. In the process, it is their duty to detect fraud or error. However, the auditor can fail to detect any errors or fraud due to...
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Auditing
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...audit effort The following are the transactions or accounts which require additional... ………………………………………………………………………….xxxxxx …………………………………………………………………….xxxxxx …………………………………………………………………………xxxxx ………………………………………………………………………..xxxxx @2013 Q1- Possible explanations for changes in net profit margin and gross profit margin Financial ratios are used in analyzing the performance of an entity and its trend over time. The net profit margin and gross profit margin are used in analyzing the profitability of an entity. The net profit margin and gross profit margins are used to evaluate the operating performance of a company (Pamela and Frank 2010). The net profit margin calculates the net profit as a percentage of...
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Auditing
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...Auditing Table of Contents Table of Contents 2 Introduction 3 Key Criteria for the Operation of an Effective Corporate Whistle-Blower Hotline 4 82) Sarbanes-Oxley Act of 2002, In Preventing and Deterring Financial Reporting Fraud and Other Unethical Actions 8 Conclusion 13 References 14 Introduction Cynthia Cooper was an accounting student pursuing accountancy in her graduation from Mississippi State University at USA. As she grew up in a poor family she had to study in a local school and had to do a part time job as a waitress. Subsequently, after completing her graduation she went to University of Alabama to pursue Masters in Accounting after which she became a renowned...
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...AUDITING PART A Introduction Accys Technologies Company is a chemical technology company that specialises in the production of Accoya wood and Tricoya wood elements. Accys group consist of the holding company and four owned subsidiaries. The four branches are Titan wood limited, Titan wood technology B.V, Titan Wood B.V and Titan Wood Inc. These subsidiaries focus on different geographical areas. Revenue for the year 31st March 2014 amounted to 33.512m €.The group Profits for the year ended 31st March 2014 amounted to 7.759m € (Accsys-Annual-Report-and-Accounts, 2014). Audit risk It is the risk that an auditor will give an unqualified opinion because of...
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Auditing
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...Audit and Corporate Governance Report Presented to: Report Presented By: Table of Contents Introduction 1 Corporate Governance2 Internal Audit and Corporate Governance5 Conclusion8 Recommendations…………………………………………………………………………………………………………………………………………8 Bibliography……………………………………………………………………………………………………………………………………………………9 Auditing and Corporate Governance Introduction The growing number of financial scandals, the widening disparity in the pay and rewards and the changing form and style of management in large corporations has resulted in the public concern therefore as a result many countries have started to develop the rules and regulations... of the...
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