Auditor independence refers to the position of the external auditor’s level of personal and financial ties to a particular organization which can sometimes be complex. When deciding whether to accept an auditing engagement, one must judge their independence and objectivity. This is why integrity is imperative in business, especially within the world of audit. Congress passed the law, The Sarbanes-Oxley Act of 2002 (SOX) that applies to publicly held companies and their auditors. It was intended
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AUO1 – Auditing and Information Systems Additional Study Questions Accounting Information Systems Competency 302.1.1: Nature and Purpose The student understands the nature and purpose of information systems. 1. What is the difference between transaction processing systems, management information systems, and decision support systems? Transaction processing systems - document financial activities Management information systems - used to collect qualitative as well as quantitative information
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Auditing Introduction Letter ACC 546 October 29, 2012 Theresa Robinson, CPA Auditing Introduction Letter October 29, 2012 University of Phoenix Auditing Introduction Letter From: Audit Services Firm LLC To: Apollo Shoes, Inc. Management RE: Auditing and Assurance services The firm specializes in many features of business risk services such as internal audit start-up, quality assurance reviews, internal
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Sarbanes- Oxley Act of 2002 The Sarbanes-Oxley Act has many different effects of interest to financial service professionals in the business world. This act increase the reliability for financial statement information that financial specialist can use to get a better understanding of the financial picture of the company. Also Sarbanes-Oxley helps financial professionals look into certain conflicts of interest in companies involved in security research and investment banking. The Act mandates disclosure
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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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Audit Evidence of Grande Store Case Nancy Johnson Rasmussen College Author Note This paper is being submitted on January 23, 2015, for Gary Rosner, A340 Advanced Auditing Concepts and Standards course. Audit Evidence of Grande Store Case When it came to the audit of the Grande Store there was insufficient numbers (four out of 1,100) to be an exact for the confirmations that were made regarding what was spent by McClure Advertising Credits. With 114 pages, 1,100 vendors and $300,000
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Risk-Based IT Audit Risk-Based Audit Methodology Apply to Organization’s IT Risk Management Kun Tao (Quincy) Cal Poly Pomona Author Note This paper was prepared for GBA 577 Advanced IS Auditing, taught by Professor Manson. March 2014 Page 1 of 26 Risk-Based IT Audit Table of Contents Abstract .......................................................................................................................................... 3 Introduction ................................
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may not be representative of questions you may see on any upcoming exams. 2007 AICPA Newly Released Questions – Auditing 1. CPA-05465 Which of the following categories is included in generally accepted auditing standards? a. b. c. d. Standards of review. Standards of planning. Standards of fieldwork. Standards of evidence. ANSWER: Choice "c" is correct. Generally accepted auditing standards include three categories: general standards, standards of fieldwork, and standards of reporting. Choices
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User Licensed to: iChapters User CONTEMPORARY AUDITING REAL ISSUES & CASES MICHAEL C. KNAPP SEVENTH EDITION MAKE IT YOURS! SELECT JUST THE CASES YOU NEED Through Cengage Learning’s Make It Yours, you can — simply, quickly, and affordably — create a quality auditing text that is tailored to your course. • Pick your coverage and only pay for the cases you use. • Add cases from a prior edition of Knapp’s Contemporary Auditing. • Add your course materials and assignments. • Pick
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What is auditing? systematic examination of books, accounts, documents and vouchers of a organization to ascertain how far the financial statements present a true and fair view of the concern. Auditing principles Fair presentation - Obligation to report findings truthfully and accurately. Independence – Impartiality and objectivity. Conclusions should based on evidence & findings Evidence- reports should have verifiable ability. Roles and responsibilities of auditors Inquiring of management
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