GAAP and other appropriate guidelines have been adequately met. Independence for internal auditors is different because they are employed by the organization, and cannot be as independent as the external auditor. Thus internal auditors must use professional judgment and independent minds in performing IA activities. 3. What are the conceptual phases of an audit? How do they differ between general auditing and IT auditing? Response: The three conceptual
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Help students understand the importance of exercising high quality professional judgment; 2. Introduce students to the KPMG Professional Judgment Framework; 3. Provide students with an opportunity to apply the framework; and 4. Provide students with the opportunity to begin developing an appropriate mindset for making good judgments. Module Learning Objectives Critical analysis of case issues and application of KPMG Professional Judgment Framework allow students to increase their: 1. Problem solving
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AUDITING AND ASSURANCE STUDY TEXT Copyr i ght ALL RIGHTS RESERVED. Nopartofthispublicationmaybereproduced,storedinaretrievalsystemortransmittedinanyformorbyany means,electronic,mechanical,photocopying,recordingorotherwisewithoutthepriorwrittenpermissionofthe copyright owner. ISBN NO: 9966-760-23-7 © 2009 Strathmore University Press First Published 2009 Strathmore University Press P.O. Box 59857, 00200, Nairobi, Kenya. Tel: +254 (0) 20 606155 Fax: +254 (0) 20 607498 Acknowledgment We gratefully
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Module 1 Financial Accounting for MBAs ------------------------------------------------- DISCUSSION QUESTIONS Q1-1. Organizations undertake planning activities that shape three major activities: financing, investing, and operating. Financing is the means a company uses to pay for resources. Investing refers to the buying and selling of resources necessary to carry out the organization’s plans. Operating activities are the actual carrying out of these plans. Planning is the glue that
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Corporate Social Responsibility, Audit Fees, and Audit Opinions Long Chen School of Management George Mason University E-mail: lchenk@gmu.edu Bin Srinidhi Department of Accountancy City University of Hong Kong E-mail: acbin@cityu.edu.hk Albert Tsang School of Accountancy The Chinese University of Hong Kong E-mail: albert.tsang@cuhk.edu.hk Wei Yu Department of Accounting and Information Management The University of Tennessee E-mail: wyu4@utk.edu March 30, 2012
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Running Head: GLOBAL FINANCIAL REPORTING: Global Financial Reporting: Why Move Toward Global Financial Reporting Connie Cerruto Student ID 3247960261 Accounting Capstone: Senior Seminar in Accounting ACC 499 005016 Winter Semester 2008 Submitted to Professor Tee Thein March 16, 2008 Dedication and Acknowledgement I would like to take this time to thank my husband, George, for all his support over this last ten weeks. For graciously doing
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INTERNAL CONTROLS AND ORGANIZATIONAL PERFORMANCE: A CASE OF MEDIPONT INDUSTRIES LIMITED BY OCHOGE JOHN 05/U/9462/EXT SUPERVISOR MR. NZIBONERA ERIC A RESEARCH REPORT SUBMITTED IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE AWARD OF THE DEGREE OF BACHELOR OF COMMERCE OF MAKERERE UNIVERSITY JUNE 2011 DECLARATION I, Ochoge John, declare that this research report is my original work. It has not been submitted to any other university or higher institution
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Becker CPA Review, PassMaster Questions Lecture: Regulation 7 CPA PassMaster Questions–Regulation 7 Export Date: 10/30/08 1 © 2009 DeVry/Becker Educational Development Corp. All rights reserved. Becker CPA Review, PassMaster Questions Lecture: Regulation 7 Agency CPA-01299 Type1 M/C A-D Corr Ans: C PM#1 R 7-01 1. CPA-01299 Lw R02 #5 Page 12 Lee repairs high-speed looms for Sew Corp., a clothing manufacturer. Which of the following circumstances best indicates that Lee is an
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| | accelerated-depreciation methods Depreciation methods that allow for higher depreciation charges in the early years and lower charges in later periods. Termed accelerated because these methods allow for higher early depreciation changes than the straight-line method allows. Also called decreasing-charge methods. Generally, companies use one of two decreasing-charge methods: sum-of-the-years'-digits or declining-balance. account sales A report, prepared by the consignee for the consignor
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business operations. A common use of accounting information is measuring the performance of various business operations. While financial statements are the classic accounting information tool used to assess business operations, business owners may conduct a more thorough analysis of this information when reviewing business operations. Financial ratios use the accounting information reported on financial statements and break it down into leading indicators. These indicators can be compared to other
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