StudentShare solutions
Triangle menu

Auditing - Coursework Example


Extract of sample

The general auditing standards require that an audit is carried out by qualified staff with appropriate skills, experience and training (Gomez, 2012). In order for a company to ensure that this standard is followed, a company ought to recruit competent audit staff. In this case, the chairman of the board of directors confirmed that the company employs well trained and qualified personnel. Therefore, this means that the auditors were well trained and qualified. However, the audit report does not give the auditor general’s credentials. Field auditing standards require high quality and timely execution of audit. An auditor is required to plan the audit process. In this case, if the audit process had not been planned, it would not have been ready for presentation to the shareholders and other stakeholders. Shareholders should receive an audit report in order to determine the progress of the company. After completion of the audit process, auditors are required to make an audit report giving an opinion on the financial statements of the organization. Additionally, the report is supposed to follow a given format, which includes a title, addressee, introduction, scope of the audit, opinion of the auditor, date and the auditor general’s signature (Gomez, 2012). However, although the auditors of BP p.l.c made a report, they did not follow the required format. The report lacked the auditor general’s signature and the scope of the audit. Question 5 Although auditors owe a primary role of responsibility

Check these samples - they also fit your topic

There exist internal threats emanating from employees authorized to access information systems. Salomon (2010) reports 40% chance of this occurrence according to reports from the FBI Computer Crime and Security findings. Some types of these attacks include misusing access privileges given legitimately; defense bypassing where users could for example not be blocked by firewalls by the virtue that they are inside the firewall; and failure of the access control especially with a technical problem.
3 pages (750 words) Coursework
Auditing,governance and scandals
By the year 2007, the company had a net income, standing well over 6 billion, and offered employment to 93,000 people globally (Boyd, 2011 p83). Nevertheless, its financial muscles and extemporary economic performance does not make it immune to problems, notably financial crisis and scandals that rocked the company starting 2003, all the way to 2005.
3 pages (750 words) Coursework
Auditing and Reporting of Business Performance
Having stated so, it is hereby emphasised that this is not a straightforward mechanism. The management need to have an internal auditing system that can derive the performance metrics and their analysis from loads of transactional data available in various distributed data sources like the Excel Sheets or the OLTP (On-Line Transaction Processing) systems across the organization.
48 pages (12000 words) Coursework
Salomon (2010) reports 40% chance of this occurrence according to reports from the FBI Computer Crime and Security findings. Some types of these attacks include misusing access privileges given legitimately; defense
3 pages (750 words) Coursework
Corporate governance is the way a public limited company is governed and the way its directors report to sharesholders, reading chapter 5 of Auditing Fundamentals by Davies and Aston, 2011, critically evaluate the effectiveness of the system of corporate
system principally used to control corporate sectors as well as direct them with the aim of ensuring ethical and appropriate conduct of business operations (Rayton & Cheng, 2004). Notably, the functioning of the Board of Directors (BOD) is an important consideration to ensure
10 pages (2500 words) Coursework
Planning the Audit
In addition, the paper also investigates the potential implications of these risks for accounting firms and how they have prompted auditor sensitivity to strategic risk of fraud. According to the author, this is
2 pages (500 words) Coursework
Issue 3
The act has affected the management of internal controls of public corporations. In addition, the act responded to financial scandals that occurred in companies that destroyed the investor confidence. The affected companies include Enron
3 pages (750 words) Coursework
C) Andrew Fastow - He was the chief financial officer who with other executives misled the top management as the audit committee and directors of Enron on high-risk accounting practices pressured the
3 pages (750 words) Coursework
Audit Planning
Planning helps the auditor to identify and devote the necessary attention to areas of importance, identify and resolve time related problems and more importantly organize and manage the audit engagement in an effective and efficient way
2 pages (500 words) Coursework
Detail any lessons learned and strategies that you as managers will either avoid and/or engage in when designing the structure, building culture, and managing change in your organization
The point is to give them a conducive environment to be in a competing position with the public universities. The strategy in place is to have the tuition fee reduction to make it affordable to all social classes in America. First, they need to
1 pages (250 words) Coursework
to the company under the contract they are engaged, they should also exercise a duty of care to third parties. In light of this, an auditor should also provide dependable financial information to third parties. This aids the third parties to allocate their resources in the most appropriate way (Gomez, 2012). On the other hand, inaccurate and inappropriate reporting by an auditor may prevent a shareholder or a third party from investing his or her resources on the company. An auditor should provide the users of the audit information with the guarantee that the financial reports of the firm are dependable (Gomez, 2012). This being the case, BP’s audit report does not reassure the users of the report to rely on the financial information provided to make investment decisions. Therefore, I would not rely on the report too as it does not reassure me as a third party. An audit report should give the auditor’s view whether the fiscal reports offer a true and fair opinion that conforms to the financial reporting standards. Additionally, on the report, the auditor is required to indicate if he received all the explanations and information, which according to his unsurpassed understanding were essential for the audit (Gomez, 2012). In order for a third party to invest in a company, he or she needs clarity whether the organization’s profit and loss account and balance sheet shown in the report concur with the books of accounts of the company. The auditors were expected to give trustworthiness to the financial reports of the organization. Credibility, in this case, implies that the financial reports can be depended on by interested third parties. The auditing committee received ?13 million for audit of the company’s accounts and other services in the organization. They received this amount on completion of their auditing duties in the organization. An auditor is requir
Cite this document
  • APA
  • MLA
(“Auditing Coursework Example | Topics and Well Written Essays - 750 words”, n.d.)
Retrieved from
(Auditing Coursework Example | Topics and Well Written Essays - 750 Words)
“Auditing Coursework Example | Topics and Well Written Essays - 750 Words”, n.d.
  • Cited: 0 times


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)…
Author : zmueller
Download 0
Read Text Preview
Comments (0)
Click to create a comment
Let us find you another Coursework on topic Auditing for FREE!
Contact us:
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us