...extra-credit assignment. Whittington, O. Ray. Wiley CPA excel Exam Review 2015, Auditing and Attestation ISBN: 978 111 891 7664 (paperback). III. COURSE BACKGROUND The course involves study of the theory and practice of professional auditing. The successful completion of the course provides a basic understanding of the nature of auditing, the responsibilities of auditors, and generally accepted auditing standards. It will provide a basic foundation to facilitate further study for those who wish to take professional examinations such as the Certified Public Accounting Exam, and the Certified Internal Auditing Exam. IV. LEARNING OBJECTIVES This course is concerned with the technical and conceptual skills involved in an audit or examination of financial statements. You will learn about Auditing Standards and Principles involving planning of an audit, report wording for different engagements and situations, audit risk, and fraud consideration. Various engagement tasks will be introduced including the collection of audit evidence, the study and evaluation of internal control systems, the use of sampling, and documenting work performed on the engagement. Communication skills and analytical...
Words: 1259 - Pages: 6
...Unit: BO1COAC216 Cost Accounting Program: Bachelor of Business Trimester 1, 2015 OVERVIEW The unit introduces cost accounting and enables students to explain its roles in efficient resources allocation. Students will be introduced to the traditional and modern approaches to costing for evaluation in decision making and profitability analysis. The role of cost accounting in performance appraisal is examined and investigated by analyzing the various topics presented. Overall, the unit will assist students in an understanding of how learning cost accounting techniques and procedures can better serve the company as a whole. DETAILS Level | Undergraduate | Credit Points | 6 | PRE-REQUISITES OR CO-REQUISITES PREREQUISITE: ACCT105 Business Accounting ATTENDANCE REQUIREMENTS All students are expected to attend scheduled classes – in some units, these classes are identified as a mandatory (pass/fail) component and attendance is compulsory. International students, on a student visa, must maintain a full time study load and meet both attendance and academic progress requirements in each study period (satisfactory attendance for International students is defined as maintaining at least an 80% attendance record) OFFERINGS Trimester 1, 2015 | Sydney/Melbourne | WEBSITE This unit has a website, within the Moodle system, which is available at the start of the trimester. It is important that you visit your Moodle site throughout the trimester. Class and Assessment...
Words: 1960 - Pages: 8
...the guidelines stated below. • Language of Project Report and Viva-Voce Examination may be English or Bengali. The Project Report must be typed and spirally bounded. • Failure to submit the Project Report or failure to appear at the Viva-voce Examination will be treated as “Absent” in the Examination. He /she has to submit the Project Report and appear at the Viva-Voce Examination in the subsequent years (within the time period as per University Rules). • No marks will be allotted on the Project Report unless a candidate appears at the Viva-Voce Examination. Similarly, no marks will be allotted on Viva-Voce Examination unless a candidate submits his/her Project Report. • Evaluation of the Project Work to be done jointly by one internal expert and one external expert with equal weightage, i.e., average marks of the internal and external experts will be allotted to the candidate. • A candidate has to qualify in the Project Work separately, obtaining a minimum marks of 40 (Project Report and Viva-Voce taken together) in paper 3.5. • Marking Scheme for Project Report and Viva-Voce Examination: Project Report (50 marks) Chapter 1: Introduction – 10 marks Chapter 2: Conceptual Framework/ National/International Scenario – 5 marks Chapter 3: Presentation, Analysis & Findings -- 25 marks Chapter 4: Conclusion & Recommendations...
Words: 1563 - Pages: 7
...Abstract In combination between my experiences and life learning knowledge in a discussion topic of defining forensic accounting; I will be sharing with you my life knowledge in key specific areas within the fraud examination. I will also discuss my views of what is forensic accounting and its importance of this field. In addition; I will be delving in my definition of the fraud triangle and how I would utilize it in today cases. Going forward, I will explain the importance of the fraud triangle in fraud examination cases as well as I will give an explanation on my belief of how the fraud examination has an inevitable part today and along with how it works at the same point in time. I will finalize this discussion with the requirements needed to become a forensic accountant in the present state of Florida that I reside in. Definition of Forensic Accounting Forensic, a word that ignites the search for clues to find the perpetrator 's intent and truth in a criminal case. In the topic of forensic accounting, it brought to my attention of a T.V. show that I have recently watched a few nights ago. The show was called Forensic Files on the HLN network. The particular case was about on how investigators of a police department were working on a murder case. They were working with different specialized groups of examiners, doctors and specialists to help solve how the death of a man occurred. During the investigation...
Words: 1761 - Pages: 8
...# Correct: | Multiple Choice | 30 | 23 | Essay | 3 | N/A | | | Grade Details - All Questions | Page: | 1 2 | Question 1. | Question : | (TCO A) An AICPA committee in 1986 broke forensic accounting into two broad areas: | | | Student Answer: | | Damages and valuation. | | | | Investigative accounting and litigation support. | | | | Accounting and valuation. | | | | Accounting and general consulting. | | | | None of the above ( ) | | Instructor Explanation: | Chapter 1, page 1-12 | | | | Points Received: | 4 of 4 | | Comments: | | | | Question 2. | Question : | (TCO A) Who was probably the first modern forensic accountant? | | | Student Answer: | | Alex Moore | | | | Cleveland F. Bacon | | | | James McClelland | | | | William H. Shawcross | | | | None of the above ( ) | | Instructor Explanation: | Chapter 1, page 1-7 | | | | Points Received: | 0 of 4 | | Comments: | | | | Question 3. | Question : | (TCO A) Which is not one of the three Ms of financial statement fraud? | | | Student Answer: | | Missing general ledger | | | | Manipulation | | | | Misrepresentation | | | | Intentional misapplication | | | | None of the above ( ) | | Instructor Explanation: | Chapter 3, page 3-5 | | | | Points Received: | 4 of 4 | | Comments: | | | | Question 4. | Question : | (TCO...
Words: 2964 - Pages: 12
...Chapter 1: Assurance services: 认证业务 Independent professional services that improve the quality of information for decision makers. Attestation services: 鉴证服务 A type of assurance service in which the public accounting firm issues a written communication that expresses a conclusion about the reliability of a written assertion of another party. Audit of historical financial statements: A form of attestation services, the auditor issues a written report expressing an opinion about whether the F/S is in material conformity (一致) with accounting standards. e.g.: listed company must provide shareholders with annual financial statements that are audited by an independent accounting firm. Review of historical cost financial statements: A form of attestation services, a public accounting firm issues a written report that provides less assurance than an audit as to whether the financial statements are in material conformity with accounting standards. Auditing standards: Establish mandatory (强制) requirements and provide explanatory (解释) guidance to auditors in fulfilling their professional responsibilities in the audit of financial reports. Auditing: Is the accumulation and evaluation of evidence about information to determine and report on the degree of correspondence between the information and established criteria. Auditing should be performed by a competent, independent person. Compliance audit: 合规性审计 One of three primary types of audits, a review of an organization’s financial records...
Words: 4162 - Pages: 17
...Chapter 1 The Role of the Public Accountant True/False Questions 1. Independent audits of today place more emphasis on sampling for compliance with laws and regulations than the audits of the 19th century. Answer: True Difficulty: Medium 2. The American Institute of Certified Public Accountants issues CPA certificates and permits CPAs to practice. Answer: False Difficulty: Medium 3. A company is either audited by the GAO or internal auditors, but not both. Answer: False Difficulty: Easy 4. The SEC does not pass on the merits of the securities that are registered with the agency. Answer: True Difficulty: Medium 5. The American Institute of Certified Public Accountants has the primary authority to establish accounting standards. Answer: False Difficulty: Easy 6. An annual peer review is a requirement of the AICPA. Answer: False Difficulty: Medium 7. Many small companies elect to have their financial statements reviewed by a CPA firm, rather than incur the cost of an audit. Answer: True Difficulty: Easy 8. Staff assistants in CPA firms generally are responsible for planning and coordinating audit engagements. Answer: False Difficulty: Easy Whittington, Principles of Auditing, Fifteenth Edition 1 Chapter 1 The Role of the Public Accountant 9. The Sarbanes-Oxley Act requires that auditors of publicly traded companies in the United States perform an integrated audit that includes providing assurance on both the financial statements and on compliance with laws and regulations...
Words: 2367 - Pages: 10
...Chapter 5 1. State several factors that have affected the incidence of lawsuits against CPAs in recent years. a. “Growing awareness of the responsibilities of public accountants by the users of financial statements. b. An increased consciousness on the part of the SEC for its responsibility for protecting investors’ interested c. The complexity of auditing and accounting functions caused by the increasing size of businesses, the globalization of business, and the complexities of business operations d. The tendency of society to accept lawsuits by injured parties against anyone who might be able to provide compensation, regardless of who was at fault, coupled with the joint and several liability doctrine e. Large civil court judgments against CPA firms awarded in a few cases, encouraging attorneys to provide legal services on a contingent-fee basis, which offers the injured party a potential gain when the suit is successful, but minimal losses when it is not. f. Many CPA firms being willing to settle legal problems out of court in an attempt to avoid costly legal fees and adverse publicity, rather than pursuing resolution through the judicial process g. The difficulty judges and jurors have understanding and interpreting technical accounting and auditing matters.” (Arens, Elder, & Beasley, 2012) 10. Compare and contrast traditional auditors’ legal responsibilities to clients and third-party users under common law. How...
Words: 1812 - Pages: 8
...Information and Technology Management IV INT401I Year module School of Computing This tutorial letter contains the model answers to assignment 1 & 2, and the Oct/Nov 2013 examination and Jan/Feb 2014 supplementary examination preparation notes. Bar code CONTENTS 1 TUTORIAL MATTER THAT YOU SHOULD HAVE RECEIVED TO DATE .................................. 3 Plagiarism ................................................................................................................................... 3 2 THE MODEL ANSWERS TO ASSIGNMENT 1 ........................................................................... 3 3 THE MODEL ANSWERS TO ASSIGNMENT 2 ........................................................................... 6 4 THE OCT/NOV 2013 EXAMINATION AND JAN/FEB 2014 SUPPLEMENTARY EXAMINATION PREPARATION NOTES ............................................................................................................12 2 INT401I/202 1 TUTORIAL MATTER THAT YOU SHOULD HAVE RECEIVED TO DATE Title Description TUTORIAL LETTER 101/0/2013 Tutorial letter 101 contains important information about your module. VERY important information. TUTORIAL LETTER 201/0/2013 TUTORIAL LETTER 202/0/2013 Tutorial letter 202 contains the model answers to assignment 1 & 2, and the Oct/Nov 2013 examination and Jan/Feb 2014 supplementary examination preparation notes (this tutorial letter). Plagiarism NB: Plagiarism is the act of taking words, ideas and thoughts of others and passing them...
Words: 4310 - Pages: 18
...contains model answers for assignment 6. CONTENTS 1 Tutorial letters that you should have read to date .......................................................................... 3 2 Model answers for assignment 6................................................................................................... 3 Unisa PO Box 392, UNISA, 0003 Copyright © Unisa 2015 In terms of the Copyright Act 98 of 1978 no part of this material may be reproduced, be stored in a retrieval system, be transmitted or used in any form or be published, redistributed or screened by any means (electronic, mechanical, photocopying, recording or otherwise) without the prior written permission of Unisa. However, permission to use in these ways any material in this work that is derived from other sources must be obtained from the original sources. Printed in South Africa by Unisa. 2 INT401I/202 1 Tutorial letters that you should have read to date Title TUTORIAL LETTER 101/0/2015 TUTORIAL LETTER 201/0/2015 TUTORIAL LETTER 202/0/2015 (this tutorial letter) Description Tutorial letter 101 contains important information about your module. Tutorial letter 201 contains model answers for assignment 5 and the Oct/Nov 2015 examination and Jan/Feb 2016 supplementary examination preparation notes. Tutorial letter 202 contains model answers for assignment 6. Guidelines for answering assignment and examination questions NB: Plagiarism is the act of taking words...
Words: 2520 - Pages: 11
...Chapter 6 6-19 a. (1) A misappropriation of assets may exist, and it is more likely to be detected by independent auditors b. (2) Lends credibility to the financial statements c. (1) form an opinion on the financial statements 6-20 a. (1) misappropriation of an asset or groups of assets b. (2) Reasonable, Reasonable, Reasonable c. (2) An audit is designed to provide reasonable assurance of detecting material errors, but there is no similar responsibility concerning fraud. 6-27 a. “Management assertions are implied or expressed representations by management about classes of transactions and the related accounts and disclosures in the financial statements. Transactions related audit objectives provide a framework to help the auditor accumulate sufficient appropriate evidence.” b. a. 3.) Accuracy b. 4.) classification c. 3.) accuracy d. 4.)classification e. 2.)completeness f. 5.) cutoff c. a. 8.) Accuracy b. 8.) accuracy and 9.) posting and summarization c. 7.) completeness d. 10.) classification e. 7.) completeness f. 11.) timing Chapter 7 7-14 Unusual fluctuations, the auditor must determine the reason and be satisfied that the cause is a valid economic event and not a misstatement. This is usually called attention directing, because there are more detailed descriptions. 7-27 a. (2) Confirmation of an account payable balance mailed by and returned directly to the auditor b. (1) Physical examination...
Words: 505 - Pages: 3
...Sultan Qaboos University College of Economics and Political Science Department of Operations Management and Business Statistics POMG4725: Special Topics in Operations Management PRINCIPLES OF LEAN OPERATIONS Course Syllabus Course Code: POMG4725 Course Title: Special Topics in Operations Management Credits: 3 Hours Contact Hours: 42 hours Course Status: Major elective Language of Instruction: English Course Type: Lecture Course Description and Objectives: This course covers methods and best practices companies should use to identify and eliminate waste (non-value-added activities) throughout the organization. It provides basic definitions, real-world examples, and an introduction to such topics as the transparent workplace, lean product development, Value Stream Mapping, lean process improvement, controlling processes, and continuous improvement. These tools, techniques and philosophies have been used worldwide by best-in-class companies to improve their bottom line, make them more competitive, and drastically improve their responsiveness to the customer. Topics: • Development of the concept of a lean organization and what benefits it will deliver • Identification of waste activities and understanding why they should be eliminated • How to use flow analysis to analyze a process and identify non-value-added activities • Understanding of the standard lean operations tools: 5S, visual workplace and visual order control, manufacturing cells, use...
Words: 1342 - Pages: 6
...to: iChapters User Fraud Examination, Fourth Edition W. Steve Albrecht Chad O. Albrecht Conan C. Albrecht Mark F. Zimbelman VP/Editorial Director: Jack W. Calhoun Editor-in-Chief: Rob Dewey Sr. Acquisitions Editor: Matt Filimonov Associate Developmental Editor: Julie Warwick Editorial Assistant: Ann Mazzaro Marketing Manager: Natalie Livingston Marketing Coordinator: Nicole Parsons Content Project Management: PreMediaGlobal Sr. Manufacturing Buyer: Doug Wilke Production House/Compositor: PreMediaGlobal © 2012, 2009 South-Western, Cengage Learning ALL RIGHTS RESERVED. No part of this work covered by the copyright herein may be reproduced, transmitted, stored, or used in any form or by any means graphic, electronic, or mechanical, including but not limited to photocopying, recording, scanning, digitizing, taping, Web distribution, information networks, or information storage and retrieval systems, except as permitted under Section 107 or 108 of the 1976 United States Copyright Act, without the prior written permission of the publisher. For product information and technology assistance, contact us at Cengage Learning Customer & Sales Support, 1-800-354-9706. For permission to use material from this text or product, submit all requests online at www.cengage.com/permissions Further permissions questions can be e-mailed to permissionrequest@cengage.com Library of Congress Control Number: 2010940986 ISBN-13: 978-0-538-47084-1 ISBN-10: 0-538-47084-4 ...
Words: 20363 - Pages: 82
...Outcome The overall learning Outcome is to obtain a fundamental knowledge and a sense of skills related to internal auditing. Specific Learning Outcomes After completion of this course, the student should achieve the following outcomes: * Given a business process, students will be able to perform the 3 steps of an audit process (planning, fieldwork and reporting) by applying the International Professional Practice Framework (IPPF), the International Standards for the Professional Practice of Internal Auditing (Standards) and guidance to the practice of internal auditing, and COSO framework. (PUL 1, 2 ;PBL 1, 3; MSA Goal 3, 4) * Students will be able to create a risk assessment for a basic business process (i.e. accounts payable or simple cash process) by applying the concepts of risks and controls to analyze the business process. (PUL 2, 3; PBL 1; MSA Goal 1, 3) * Students will be able to articulate the different enterprise-wide governance principles, the relationship between governance and enterprise risk management and...
Words: 2805 - Pages: 12
...employee whistleblowing,” it mainly talked about fraud in a business. While talking about the different frauds in a business it also talked about ways that you can prevent fraud. The article basically looks at actions businesses can take to avoid accidently discouraging fraud reporting and instead promote whistleblowing. Using a third party admin. To oversee hotlines is considered the best practice that companies use to encourage whistleblowing. In 2009 a study based on interviews of more than 80 managers and published in Auditing: A Journal of practice and Theory, found that employees are more hesitant to report possible fraud to outsiders as opposed to using internal company reporting programs and resources, even if those internal programs don’t follow best practices similar to the external hotlines. Companies want to retain the use of an external reporting system, such as a hotline administered by a third party, rather than bringing it in house. It would be more cost effective and may offer whistleblowing if the third party maintained the hotline. A hotline should be something as a part of the company and not looked at something that’s separated. The name for your hotline should be something that your employees should feel comfortable using at any time and not just for emergencies. SOX requires audit committees of publicly traded companies to provide a whistleblowing option so that employees can anonymously report fraud. It’s used to make employees more comfortable and...
Words: 534 - Pages: 3
