Controlling System Within Unilever Commerce Essay Unilever has an immovable control experience, which is agreed and frequently reviewed by the Boards. This incorporates risk management, internal control procedures and operations control which are planned to provide rational, but not complete, security that assets are refreshed, the risks facing the business are being addressed and all information required to be released is reported to the Group's senior management, including where appropriate the
Words: 838 - Pages: 4
Case 3.4 Sunbeam: Incentives and Pressure to Commit Fraud 1. Consult paragraph 9 of PCAOB Auditing Standard No. 5. Based on your understanding of inherent risk assessment and the case information. Identify three specific factors about Sunbeam that might cause you to elevate inherent risk. The fact that the structure of the organization was in major flux and that the employees were probably in chaos mode with all the terminations in management, I am sure that the overall tone from the top
Words: 1210 - Pages: 5
GA-2 | No | 3.Draft short staffing requirements memo | | | Planning | | 37 | Yes | Varies | Yes | Note you do not need to search for audit programs – Refer to Blackboard for Audit Program Templates that are included with each audit area. You will need to reference and sign off each audit step as required (note that all audit steps provided in the audit program may not be needed.) | | | Planning | | 38 | Yes | GA-3 | Yes | Draft workpaper for the notes and information obtained from the
Words: 1377 - Pages: 6
performing adequate and appropriate audit procedures. Also if the engagement team did not perform adequate and appropriate procedures, describe what additional procedures we will perform. At the begin, the audit team did not identify and assessed the appropriately assess the risks of material misstatement (AS No. 12). They did not obtain an understanding of the company and its environments and they did not perform risk assessment procedures to design their audit. The Audit team did not test for the accuracy
Words: 414 - Pages: 2
AUDIT CRUNCH: REFORMING AUDITING 3 Fundamental Flaws in Current Audit Practice 1st point From this journal, it mainly focuses on the debating of three issues which are deeply embedded in the current auditing practices. Firstly, auditing model is one of the fundamental issues that exist in the auditing practices. It makes auditors’ financially dependent upon companies and persuades them to prioritize their own economic interest at the expense of other parties which may have an interest in audits
Words: 743 - Pages: 3
for each case: 1) Type of communication (memo, letter or report) 2) Who is writing 3) To whom the case is being written to 4) The time frame. a. ie when in the audit: beginning, middle, end; there is no point writing about issues at beginning of audit if the audit is over and there is a draft audit report b. ie regarding purchase or sale of property: has the decision already been made to buy the property (shares or assets) or not; and if so, has the financing been decided
Words: 1168 - Pages: 5
responsibility is to make sure that all our accounting personnel are available for the investigators to interview. Our full cooperation on this matter is of utmost importance. We are also required to contact our external auditor, Deloitte LLP, and have our audit team get in contact with the SEC investigators. We need to make sure that our external auditors are fully debriefed on the situation. There have been rumors circulating in the media concerning the allegations against us, especially
Words: 457 - Pages: 2
This assignment is worth a total of 30 points allocated as indicated. Please complete your answers in a Word document and submit it using the Assignment 2 dropbox. This course is geared toward research and communication. That means you will be researching the appropriate standards and communicating your answers. Support answers with facts and/or examples. Your answers should be original – do not just copy or paraphrase the lecture notes, books, articles, or your classmates. All composition-type
Words: 1069 - Pages: 5
the business operations effectively. Each business unit maintains all its recording and proceeds of transactions, general ledger and other accounting information at the business unit level. Of the many business units, few are to meet the Statutory Audit requirement by the competent state authority. The management teams meet up periodically to discuss the development and performance of business units and divisions in particular along with regular meetings with management at the consolidated level
Words: 2023 - Pages: 9
decision. * Attitude: Ask yourself this: Do the client’s management personnel have a reasonable attitude toward being audited, or do they seem overly resentful or apprehensive? Most companies with nothing to hide have a very casual attitude toward an audit, even if they consider it an inconvenience. And if management has a bad attitude toward paying taxes, as evidenced by interviews with the management or by income tax changes either proposed or made by the
Words: 691 - Pages: 3
