AUDITING PROFESSIONAL 1 EXAMINATION - AUGUST 2011 NOTES: Section A - You are required to answer Questions 1, 2 and 3. Section B - You are required to answer any two out of Questions 4, 5, 6 and 7. (If you provide answers to more than two questions in this section, you must draw a clearly distinguishable line through the answer(s) not to be marked. Otherwise, only the first answers to hand for these four questions will be marked.) TIME ALLOWED: 3 hours, plus 10 minutes to read the paper. INSTRUCTIONS:
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case study in Financial Statement Fraud by a company that we choose. First of all, in this report we will investigate on our background of the Case Study Company which is MEMS TECHNOLOGY BHD. In the case study, we will determine the current status of the company and how the financial statement fraud will give impact to the organization by referring to the company’s annual report 2009. Hence, in this report we will give some practical guide on the different schemes and components that are used for
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fundamental questions to the profession about relevance and trust. So why change the auditor’s report now? What we learned from research is a positive message: the auditor’s opinion is valued, and users want to hear more from the auditor – more pertinent, and more tailored, information about the specific audit performed on an entity’s financial statements. There is symbolic value in the current report, but little communicative value – and users see the potential for the auditor to provide more value
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1.1 Introduction 1.1.1 Origin of integrated reporting Over the years companies owed it to shareholders to annually give reports that are a medium of accountability to shareholders. The business success prospects of companies relied on annual reporting that has been biased towards the financials aspects of the company’s activities such as financial position, financial performance and the flow of cash in and out of the company. The modern investor has expanded focus beyond the financial return on
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THE ROLE OF SOCIAL AND ENVIRONMENTAL REPORTING IN THE ORGANIZATIONS Author: Mohamed Anas (2015) INTRODUCTION There has been an increase in demand for environmental and social reporting as well as other non-financial information by shareholders and users of financial statements. In early 2000’s the stakeholders and shareholders are only concerned with the financial performance but now the trend has changed as that the shareholders and stakeholders who believed that the organization should be
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office. The individual must possess strong business acumen and thrive in a dynamic business environment. The position will be responsible for sales and financial reporting, financial planning, and business analysis activities. Key Responsibilities: • Prepare sales and financial reports for management team. • Prepare monthly forecast; this includes forecasting sales, GP and OPEX. • Assist in preparing annual budget. • Assist in preparing quarterly business review (QBR). • Prepare
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Starbucks Annual Report and SEC Filings Shawn Casto, Jessica Ferraro, Leslie Haynes Samantha Eason, Cyntia Portal UOP Finance for Business FIN/370 Dr. Dana Williams February 15, 2014 Starbucks Annual Report and SEC Filings Starbucks first opened their doors in 1971, and since then they have felt a responsibility to make a positive impact one person, one cup, and one neighborhood at a time. Starbucks has grown to now more than 18,000 in over 60 countries; they recognize that commitment
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CASE STUDY – FINANCIAL REPORT ANALYSIS Three Executives of a well-known multi-national company decided to form a new company, named New Star Company Limited in 1974. These three executives were becoming close to their retirement age. Pifco-Zen Chen Company Limited, the company that they worked for had been in business for the last 80 years. It was their previous employer’s policy to retire the executives with a “golden hand-shake” worth approximately US$120,000 each. The three executives occupied
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CASE STUDY – FINANCIAL REPORT ANALYSIS Three Executives of a well-known multi-national company decided to form a new company, named New Star Company Limited in 1974. These three executives were becoming close to their retirement age. Pifco-Zen Chen Company Limited, the company that they worked for had been in business for the last 80 years. It was their previous employer’s policy to retire the executives with a “golden hand-shake” worth approximately US$120,000 each. The three executives
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closing and cost accounting reports. 2. Compile and analyze financial information to prepare entries to accounts, such as general ledger accounts, and document business transactions. 3. Establish, maintain, and coordinate the implementation of accounting and accounting control procedures. 4. Analyze and review budgets and expenditures for local, state, federal, and private funding, contracts, and grants. 5. Monitor and review accounting and related system reports for accuracy and completeness
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