Anton Chaney-Harris 2/12/2015 ACCT 4420 Knapp Cases – NextCard 1. Should auditors evaluate the soundness of a client’s business model? Defend your answer. The auditors don’t have the full responsibility of looking over the client business model. But they should a good understanding of the client’s business model and industry, this way they can develop more accurate expectations for financial statements assertions. 2. Identify and briefly describe the specific fraud risk factors present
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https://en.wikipedia.org/wiki/Satyam_scandal http://www.hindustantimes.com/business/satyam-scam-all-you-need-to-know-about-india-s-biggest-accounting-fraud/story-YTfHTZy9K6NvsW8PxIEEYL.html http://www.business-standard.com/article/economy-policy/in-case-of-satyam-issue-is-not-just-about-money-but-biz-ethics-109051100040_1.html http://rammallar.blogspot.in/2013/04/satyam-scam-is-it-failure-of-business.html http://www.termpaperwarehouse.com/essay-on/Satyam-Scam-And-Ethics/198522 http://www.researchgate
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BKAL3063 Integrated Case Study Group I A141 30 September 2014 Group Members: 1. Rose Atikahanum Binti Abdul Rahman 216666 2. Nor Amira Zuriyanti Binti Khalid 216410 3. Nurulnabila Binti Mohd Sanusi 216516 4. Peggy Liaw Wan Gene 216388 5. Willson Wong 216381 1.0 EXECUTIVE SUMMARY WorldCom was a telecommunications company and formerly known as Long Distance Discount Services (LDDS). The company was handled by Bernard J. (Bernie) Ebbers, one of the original nine investors, and managed to
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conduct) Accountants can also have fiduciary duties to a client if the accountant gives advice to a client involving taxes, assessing management or business consulting. Fiduciary is a legal duty to act solely in the best interest of the client. The case below involves an Atlanta-based accountant breaching his fiduciary duty involving client confidentiality. ` On August 14, 2014 the Securities and Exchange Commission (SEC) brought charges against Donald S. Troth, CPA for insider trading. The allegation
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tried to follow your instructions properly now and when necessary. We would like to request you to allow us to submit the report. Sincerely Yours’ Group 18 Executive Summary The purpose of this paper is to propose a study on the corporate fraud cases & the role of auditors in Bangladesh perspective. It is tries to find out the reasons behind auditors involvement in the frauds & consequences. For this purpose, we collected & analyzed several research papers & other secondary data
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An accountant is a practitioner of accountancy or accounting, which is the measurement, disclosure or provision of assurance about financial information that helps managers, investors, tax authorities and others make decisions about allocating resources. Auditor is the person appointed to conduct an examination of the records, to form an opinion about the authenticity and correctness of such records, by verifying the correctness and reliability of the recorded transactions from the evidences available
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various agencies and commissions stimulate lot of economic activities. As a result of these Government huge involvements in economic activities, initiatives are being taken all over the world towards improvement of the standards of accounting and auditing departments in government. The public sector accountant has the responsibility of developing systematic arrangements to assist management in the performance of the services of the institution while the public sector auditor has among other duties
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components of total assets, gross profit, components of shareholders equity, and cash flows from operations. Since users are relying heavily on financial statements, it’s imperative that auditors use their best judgment and professional skepticism when auditing those particular elements on the financial statement. The KPMG auditors failed to take qualitative materiality into account. They overlooked the measures on the interactive platform sector which lead them to misrepresent Gemstar’s financial statements
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Anton Chaney-Harris 2/12/2015 ACCT 4420 Knapp Cases – NextCard 1. Should auditors evaluate the soundness of a client’s business model? Defend your answer. The auditors don’t have the full responsibility of looking over the client business model. But they should a good understanding of the client’s business model and industry, this way they can develop more accurate expectations for financial statements assertions. 2. Identify and briefly describe the specific fraud risk factors present
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Current Issues in Auditing Volume 9, Issue 2 2015 Pages P36–P41 American Accounting Association DOI: 10.2308/ciia-51279 PRACTITIONER SUMMARY How Client Identification and Client Commitment Uniquely Influence Auditor Objectivity David N. Herda and James J. Lavelle SUMMARY: This article summarizes our recent study, ‘‘Client Identification and Client Commitment in a Privately Held Client Setting: Unique Constructs with Opposite Effects on Auditor Objectivity’’ (Herda and Lavelle 2015)
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