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
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balance-related audit objectives and tests of details of balances for accounts payable to be sure you understand each procedure and its purpose. Prepare an audit program for accounts payable in a performance format, using the audit procedures in Table 19-5. The format of the audit program should be similar to Table 16-5 (p. 541). Be sure to include a sample size for each procedure. c. Assume for requirement b that (1) assessed control risk had been high rather than low for each transaction-related audit objective
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Select REPRINT option from the screen by press 2 or touch it Select Reprint Last Receipt option and press Enter Select Reprint Any Receipt option and press Enter Type Trace no and press Enter Print Audit Report: 1. Select REPRINT option from the screen by press 2 or touch it 2. Select Print Audit Receipt option and press 4 or touch it Settlement: 1. 2. 3. 4. Select SETTLEMENT option from the screen by press button 4 or touch it Confirm to do the settlement Wait for settlement After settle success
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| |Details of Unit(s) of competency | |Unit Code |FNSACC602A |Unit Title |Audit and Report on Financial systems and records | |Details of Student | |Student Name |
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1. I believe that the Principle Accounting Officer should also be required to attest to the effectiveness of internal controls over financial reporting, in addition to the CEO and CFO. In many corporations, the PAO is also the CFO, and because of their CFO role, are required to attest to the effectiveness of internal controls over financial reporting. In the Koss Corporation, Michael Koss held the roles of both CEO and CFO, so he was the only person required to attest to the effectiveness of internal
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between judgement and action is broken once professional scepticism reaches a point or threshold where the auditor is bound into action. Whether this occurs or not depends on other factors such as the evidential input (link 2). Nelson mentioned that audit planning and opinion is influenced by professional skepticism which is affected by the amount of information the auditor garners about the client. An auditor’s skeptical judgement is influenced by three factors which are knowledge (link 3), personal
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A. 1. Audit committees of public company board of directors responsibilities since SOX 2. Sarbanes-Oxley section 404 on internal control 3. The accuracy of public company financial statements and the cost of capital for public companies 4. The main advantages and disadvantages of Sarbanes-Oxley Act B. Can legislation guarantee the accuracy of public company financial statements? Why have previous laws failed? Why CEOs and CFOs are paying so much attention to this law? Audit Committees
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Before the fall of corporations like Enron and WorldCom, there was also far too much corporate fraud during the Internet bubble. According to Stanley Block and his co-authors, “The major accounting firms had failed to detect fraud in their accounting audits, and outside directors were often not provided with the kind of information that would allow them to detect fraud and mismanagement.” (Block, 12). What is the definition, in a nutshell, of the Sabarnes-Oxley Act? This is something that needs to
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June 5, 2014 Audit Report Number: LJB-505-2014 To: Patrick Krause President, LJB Company Anthony Sahara General Counsel, LJB Company Rebecca Patriosky Treasurer and Controller, LJB Company From: Dilenia Baez Audit Engagement Manager, Ralph & Golberms, PLLC Highlights As part of the engagement approved by Patrick Krause, President of LJB Company. Ralph & Golberms, PLLC evaluated the current internal control functionality of LJB Company
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account (#111-1) and document your procedures on an audit document similar to the one in Exhibit 9-4. Indicate and prepare on the audit document any proposed correcting entries that are needed to ensure fair presentation of this financial information. [Case 9-1.doc] Lakeside Company Tests of Buildings - Warehouse/Office December 31, 2012 Audit document No. W-3 Prepared by: KB Reviewed by: RG Reviewed by: JG Description | Amount | | Audit Procedures | Balance per books - Beg. of Year
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