CORPORATE FRAUD & THE ROLES OF AUDITOR (BANGLADESH PERSPECTIVE) Submitted To: Tahmina Ahmed Lecturer Department Of Accounting And Information Systems University Of Dhaka. Submitted By: Group No. 02 ID 18003 18051 18053 18073 18089 18200 NAME Safiqur Rahman Mahadin Anik Mahmudul Islam Arnab Kumar Chakrabartty Abdullah Al Noman Namrata Chakma Date of Submission: November 11, 2014. 1|Page This Report Includes The Following Contents Chapter No. Contents Page No. 01.Introduction 1.1 1.2 1
Words: 3700 - Pages: 15
industry. Its main facilities and head office are located near Calgary, Alberta. Concerned by recent financial difficulties in the company’s plant in Sarnia, Ontario, the board of directors has asked the internal auditing director to evaluate production management at the plant. The internal auditing director is aware of the importance of this engagement — indeed, he considers it to be crucial for ChemiCan — and he has asked you, the senior auditor, to prepare the audit program for it. The Sarnia plant
Words: 691 - Pages: 3
organization mitigate risks associated with compliance. Some of the basic elements include: designation of a compliance officer, policies, internal processes and controls, regulatory change management, quality control, consumer complaint response process and audit (Sullivan, 2011). The two elements of assessing the overall effectiveness of a compliance program are quality control and audit. The end goal of a quality control function is to monitor how well departmental policies and procedures are
Words: 2484 - Pages: 10
implemented for corporate accountability as well as the new penalties for acts of wrongdoing. Body The Sarbanes–Oxley Act of 2002, also known as the “Public Company Accounting Reform and Investor Protection Act” by the Senate and “Corporate and Auditing Accountability and Responsibility Act” by the House of Representatives and commonly called Sarbanes–Oxley, Sarbox or SOX, is a United States federal law passed on July 30, 2002, which set new or enhanced standards for all United States public company
Words: 2565 - Pages: 11
systems. Management wants to know the types of audit and how they will be conducted. In addition, management would like to know about events that might prevent reliance on auditing through the computer. There are four types of IT audits: attestation audits, findings and recommendations audits, SAS 70 audits, and statement auditing standards (SAS) 94 audits. During an attestation audit, the auditor provides assurance the client is responsible for something. After the responsible party makes the assertion
Words: 1340 - Pages: 6
the given financial statements? Defend your answer. No. Clients have rights to reject some proposed audit adjustments if they disagree with these adjustments. According to the part of the fifth and final phase in the audit opinion formulation process in our textbook, some additional evidence would be gathered if the evidence does not support a fair presentation. It also mentioned that “The account balance is misstated, but the client disagrees. The auditor will issue an audit report indicating
Words: 627 - Pages: 3
Running Head: HIGH-RISK AUDIT CLIENT Assignment 4: Eastman Kodak Sarah Hescox Instructor: Mrs. Ashley Braun Harper, MS, CPA Advanced Auditing 06/16/2013 HIGH-RISK AUDIT CLIENT Current Financial Condition Based on its most recent quarterly report, that was issued April 29, 2013, Eastman Kodak’s current financial position seems strong with a net earnings of 283 million compared to the previous year’s loss of 366 million, however provided additional information, it is actually less than favorable
Words: 1477 - Pages: 6
7. A perceived lack of integrity caused irreparable damage to both Andersen and Enron. How can you apply the principles learned in this case personally? Generate an example of how involvement in unethical or illegal activities, or even the appearance of such involvement, might adversely affect your career. What are the possible consequences when others question your integrity? What can you do to preserve your reputation throughout your career? A perceived, or even likely more detrimental to
Words: 1069 - Pages: 5
financial statements were presented fairly, in all material respects, in conformity with generally accepted accounting principles (GAAP) and that Androids had conducted its audit of those financial statement in accordance with generally accepted auditing standard (GAAS). So, SEC found that Androids’ representations were materially false and misleading. While, Solid Waste’s financial statements were not presented fairly, in all material respects, in conformity with GAAP. Androids had allowed the management
Words: 2273 - Pages: 10
Auditing Theory -Auditing and Assurance Services- An integrated approach Chapter 1 The assurance service market Objective 1-1 describe auditing: Auditing: accumulation and evaluation of evidence about information to determine and report on the degree of correspondence between the information and established criteria. Auditing should be done by a competent, independent person. Evidence: any information used by the auditor to determine whether the information being audited is stated in accordance
Words: 874 - Pages: 4
