This paper is an overall assessment of the financial fraud that occurred at Worldcom. This paper will show that if an operational audit had been conducted how it could have uncovered the fraud at an earlier time. | Initial Survey and Engagement Development In the introduction survey there are several topics that should have been discussed in the initial survey and engagement development for an audit of Worldcom. When reading the Worldcom case the very first thing that I noticed was there was
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interoffice memorandum subject: ethics assigment- New systems inc date: [ 3/18/2012 ] A number of business ethical conflicts develop due to divergences between different stakeholders’ interests such as; company owners, employees, customers or/and surrounding community. One of the major stakeholders New Systems Inc is experiencing an ethics situation. Alexandra Lopez a certified internal auditor for New Systems Inc has been assigned to the Royal Division for the past two years. Alexandra
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audit. · Describe audit sampling methods for tests of controls and substantive tests of transactions. Course Assignments 1. Readings · Read Ch. 3, 7, & 15 of Auditing and Assurance Services: An Integrated Approach. 3. Individual Assignment: The Audit Report and Internal Control Evaluation · Resource: pp. 62–63 in Ch. 3 of Auditing and Assurance Services: An Integrated Approach · Evaluate the evidence provided by Apollo Shoes. · Decide how to structure the audit report for the provided
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Internal Audit Department Audit Program for Cash | | |Audit Scope: | |Audit Objectives: | |Risks
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Syllabus for ACIS 4414 Financial Statement Auditing Fall 2012 Instructor: Email: Office: Phone: Office Hours: MW 1:00pm – 2:30pm and by appointment Class time: MWF 9:05am – 9:55am; MWF 10:10am – 11:00am in PAM 2003 Course Web Site: Recommended Texts: Auditing and Assurance Services 14th edition Prentice-Hall, by Alvin A. Arens, Randal J. Elder, Mark Beasley Auditing Cases, 5th Edition, Beasley, Buckless, Glover, & Prawitt Note: Both of the above texts are
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Take to Guard against an Audit report. This report contains information pertaining to the procedures that will prepare an organization for auditing and out of compliance materials. This report is analyzed according to three categories: (1) the accountability an audit can give a company, (2) having on demand documentation on premises, (3) internal auditing being cost efficient versus external audits. This report also explains how audits can damage the business’s reputation if not completed correctly
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accounting boards numerous times since the 1970s. Mandatory audit firm rotation would cause auditing firms to change clients after a certain amount of years with the client. The Public Company Accounting Oversight Board (PCAOB) has recently opened a discussion on audit firm rotation because the Board is concerned about the many problems that have come up on different auditing reports made by top auditing firms. PCAOB is concerned with auditor independence because they feel that it is being compromised
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Generally Accepted Auditing Standard Paper ACC/491 Generally Accepted Auditing Standards Paper Auditing is defined as “a systematic process of objectively obtaining and evaluating evidence regarding assertions about economic actions and events to ascertain the degree of correspondence between the assertions and established criteria and communicating the results to interested users” (Louwers, Ramsay, Sinason, & Stawser, p. 3). This is basically saying that auditors are given the job
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LBJ DISTRIBUTION COMPANY AUDIT REPORT Unqualified Opinion (For the President) By SANDRA LADSON 09/29/12 [pic] Table of Contents Page 1. Executive Summary............................................................................................................3 2. Background/Introduction...................................................................................................3 3. Objectives & Method .......................................
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March 2012 This Auditing and Assurance Bulletin has been prepared by Auditing and Assurance staff. It has not been issued under the authority of the Auditing and Assurance Standards Board (AASB). This Auditing and Assurance Bulletin is intended to help raise practitioners’ awareness in a timely manner of significant new or emerging issues or other noteworthy circumstances related to engagements addressed by the AASB pronouncements. It is also meant to direct practitioners to relevant requirements
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