always a myriad of ethical issues. Some people will do anything to propel themselves into financial wealth. However in today’s accounting world I believe there are numerous standards and policies that lend themselves to create an ethical rich environment. One endeavor known as the Sarbanes-Oxley Act revolutionized the accounting industry adding such measures as requiring the leadership of corporations to certify the accuracy of each individual financial statement to restore the faith of investors
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FORMING AN OPINION AND REPORTING ON FINANCIAL STATEMENTS (Effective for audits of financial statements for periods beginning on or after December 15, 2009) Introduction Scope of this ISA 1. This International Standard on Auditing (ISA) deals with the auditor’s responsibility to form an opinion on the financial statements. It also deals with the form and content of the auditor’s report issued as a result of an audit of financial statements. 2. ISA 7051 and ISA 7062 deal with how the form
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History Satyam Computer services Limited an Information Technology Company was founded in 1987 by Ramalinga Raju. The company is based in Hyderabad, India and was the fourth largest software exporter in India until January 2009. As one of the largest software company, Satyam traded in the Bombay Stock Exchange, the national Stock Exchange and New York Exchange. Satyam grew rapidly with customers stretching over 66 countries and was ranked at 185th on the Fortune 500 companies list. In 2008, Satyam
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essential in controlling the environmental performance of an organization. Environmental management systems (EMS) refers to the comprehensive management strategies organizations apply in responding to environmental issues through the integration of environment-conscious thinking in all business management aspects and operating systems. The environmental management systems focus on ensuring that organizations manage various environmental impacts associated with their activities. Environmental management
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your employees too thin can be detrimental to your business. The success of a business is partly determined by it’s employees. Employees that are well rested, not overworked, and not under a lot of stress are better able to perform in the work environment. They are more productive and higher productivity means higher profits for the company. Before companies lay-off or terminate their employees they need to know all of the costs and not just the financial costs. In most cases the cost of laying
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refining, and aluminum smelting (University of Phoenix). After the challenge that Kelly Bates posed, Roger Lloyd, the chairman of the organization (University of Phoenix), realized that the company needed to come up with a plan to manage torts and regulatory risks. Common business torts include intentional torts, unintentional torts (negligence) and strict liability. Intentional torts refer to actions that are taken with the intent to cause injury to the plaintiff. Unintentional torts, or negligence
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Security Countermeasures 4 Physical Security Program 5 Regulatory Compliance 7 Conclusion
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stakeholders, from the government, investors, and practitioners to regulatory bodies. Corporate failures like the often cited Enron and WorldCom cases have placed forensic accounting into the limelight. The objective of this study is to present the views of practitioners regarding forensic accounting and its current development in Malaysia. For the purpose of this study, practitioners from the big and medium accounting firms and regulatory bodies in Malaysia were interviewed regarding the subject matter
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The XBRL technology standard for business information reporting was initiated in 1998 by Charles Hoffman when a handful of forward-looking accounting and technology experts came up with the idea of structured data for business information. Later that year, the American Institute of Certified Public Accountants (AICPA) was approached to spearhead the introduction of what was to become XBRL to the world. AICPA provided funding to begin research and development. In 1999, the prototype is completed and
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opportunities to face the challenges of fiercer global competition - To recognize the changes in economy/ business and recognize the path to success by adopting changes in knowledge management and acquiring skills - To recognize its role as a regulatory body to equip its members (Chartered Accountants) with top-quality education and values
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