Project 1 - Assignment Example

Only on StudentShare

Extract of sample
Project 1

Andersen served as the company’s auditor and he consequently issued an auditor’s report that stated that all-financial statements had been presented fairly with respect to all materials and in accordance to the GAAP. Duncan was the global engagement partner for the Enron’s audits. He held such responsibilities as determining whether an unqualified opinion should be issued within the report of the auditor. The main official responsibility of Duncan was to ensure that all auditors’ reports about the financial statements were relevant and true before he could sign them. Duncan held full responsibility on the approval for all business documents and financial statements and the Enron’s annual reports on the forms 10-k that had been filed with the commission for years 1998 to 200 consecutively. In addition, Duncan was supposed to design and implement auditing procedures that were adequate in addressing the total risks essential in the Enron engagement. He was supposed to perform tests and other procedures to obtain competent and sufficient evident matter. He was supposed to properly supervise the audits for Enron (Markham & Jerry 92). Duncan was responsible for determining whether the unqualified opinions were supposed to be issued within the auditor’s report. For the ended years, however, Duncan did not perform his duty in due diligence. ...
Download paper


Name Institution Enron and Related Party Transactions The senior executives in Enron engaged in deception over a broad scheme to deceive the investigating public by giving much statement about the company’s earnings and their cash flows. The executives were also engaged in concealing debts in relevant filed periodic reports for the commission…
Author : haagjanis

Related Essays

project management
Several studies revealed that majority of traffic collision is caused by human factors related to intoxication or the use of cell phones while driving (Strayer & Drews, 2004; Strayer, Drews, & Johnston, 2003; Williamson, Feyer, Friswel, & Finlay-Brown, 2001). In some cases, other forms of visual or sound distraction such as the presence of billboard in highways or the use of loud radio could also promote road accidents (U.S. Department of Transportation, 2008). To prevent unnecessary deaths caused by traffic collision, this project initiation document will discuss the importance of joint...
5 pages (1255 words) Coursework
Finance Project
As the project considers a period of ten years critical evaluation is required to decide the outcome of the project. Analysis: 1. The expected cost for the project: Year Expected cost(in million dollars) 1 25 2 28 Opportunity cost of the project= 8% Present value of the cost of the project: Cost (i) Discounting factor at 8 % (ii) Present value (i*ii) 25 0.926 23.15 28 0.857 23.996 2. Present value of the after tax cash profit: Year( i) Cash flow(after tax) (in million $) (ii) Discounting factor at 8% (iii) Present value(ii*iii) 3 6 0.794 4.764 4 7 0.735 5.145 5 8 .681 5.448 6 9 0.63 5.67 7 9...
5 pages (1255 words) Essay
Project Evaluation
The other option that Salsbury has is to open a health and fitness complex and it has a NPV of ?700,000. Furthermore, the report justifies the technique that has been used in order to evaluate the project by comparing it with other project evaluation techniques such as Accounting Rate of Return and Profitability Index. Moreover, the report then discusses other factors that the organization needs to consider while making the investment decision. ANALYSING THE FEASIBILITY OF THE PROJECT Net present value (NPV) is the technique that has been used to analyze the feasibility of the project. NPV...
5 pages (1255 words) Math Problem
Governance and Risk in Finance, Term Project 1
The macro risk factors can be political, economical, social and technological factors called PEST analysis. The macro economic variables generating macro risks are price indexes, exchange rates, commodity prices, variables of monetary policy etc. However, there are certain credit rating agencies who give credit rating to institutions from excellent to poor like A.M.Best, Dun & Bradstreet, Standard & Poor’s, Moody’s, and Fitch Ratings. The Standard & Poor gives rating scale ranging from AAA to BBB to CCC to D. Rating lower than BBB- is considered as junk or speculative bond. Sound corporate...
9 pages (2259 words) Essay
Project Appraisal
. 4 Discussion… 6 Recommendation….9. Conclusion…10 Introduction Project appraisal is a structural process through which management uses to determine through careful assessment the most viable project. From a well appraised project, great achievements can be achieved in case the project implementer applies the appropriate skills. Appraisal is done through assessment of data through assumptions and methodologies used when preparing a project. For instance, it involves the work flow, proposed financing, an assessment of the projects managerial aspects, cost estimating, finance validity, and...
8 pages (2008 words) Assignment
New York City Project Part 1
Due to lack of adequate money to do it all, the budget reflects the priorities of the city’s elected representatives. And I consider the city council of New York City has a comprehensive plan because that the New York City Charter ("the Charter") vests the responsibility for preparing an annual expense and capital budget with the mayor. The mayor must then submit the expense and capital budget to the City Council for its review and adoption. It shows that the process of making a budget has to be rigorous enough to be implemented (Christine, 2013). Besides, each budget must consist of several...
3 pages (753 words) Essay
The paper tells that during the gaming period in question, Apple and eBay did in fact record the best capital gains of 1.6% and 1.3%, respectively. Apple was once again on a roll this week.
4 pages (1004 words) Essay
Got a tricky question? Receive an answer from students like you! Try us!