Chapter 1 Professional Ethics & Conduct * Non-auditor services. Pg 654 * Whether auditor can prepare financial statement for the bank? 1. Listed (Cannot) 2. Not Listed (Can) Section 201 of SOX -Provided of some safeguards -Not involved in decision making * Gift & Hospitality pg 644 * Amount is insignificant X Amount is significant * Fees & Pricing pg 651 * Effect the quality of the job * Low pricing “ low bolling” *
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Link CHAPTER 1- General rules for the assessment methodology 32 CHAPTER 2- Assessment methodology of roll out plans and Permanent partial use of Standardised Approach 35 CHAPTER 3- Assessment methodology of the function of validation of internal estimates and of the internal governance and oversight of an institution 38 CHAPTER 4- Assessment methodology of use test and experience test 48 CHAPTER 5- Assessment methodology for assignment of exposures to grades or pools 51 CHAPTER 6- Assessment
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LECTURE OUTLINE CHAPTER 6 Audit Planning, Understanding the Client, Assessing Risks and Responding Brief Topical Outline A. The audit process 1. Obtaining clients (PowerPoint 6-2) — Submit a proposal — communicate with predecessor auditors 2. Overall process (PowerPoint 6-3,4) B. Audit planning (PowerPoint 6-5) 1. Establish an understanding with client, ordinarily through use of an engagement letter (PowerPoints 6-6, and 6-7)
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activity that measures and communicates financial and business data. 8) A regulatory function that prevents the issuance of improper financial information. C. Which of the following professional services is an attestation engagement? 9) A consulting service engagement to provide computer processing advice to a client. 10) An engagement to report on compliance with statutory requirements. 11) An income tax engagement to prepare federal and state tax returns. 12)
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Chapter 1 Environment and Theoretical Structure of Financial Accounting AACSB assurance of learning standards in accounting and business education require documentation of outcomes assessment. Although schools, departments, and faculty may approach assessment and its documentation differently, one approach is to provide specific questions on exams that become the basis for assessment. To aid faculty in this endeavor, we have labeled each question, exercise and problem in Intermediate Accounting
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Chapter 01 An Introduction to Assurance and Financial Statement Auditing True / False Questions 1. | Independence standards are required for audits of public companies, but not for audits of private companies. True False | 2. | Decision makers demand reliable information that is provided by accountants. True False | 3. | Information asymmetry seldom occurs. True False | 4. | Conflicts of interest often occur between absentee owners and managers. True False |
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Internship Report “The Insurance Act 2010 for Non-life Insurance; Problems & Prospects of Peoples Insurance Company Limited” Submitted To: Sharmin Shabnam Rahman Lecturer BRAC Business School, BRAC University Prepared & Submitted By: Name Shamima Aktar Student ID 08104057 Date of Submission: May 20 , 2012 “The Insurance Act 2010 for Non-life Insurance; Problems & Prospects of Peoples Insurance Company Limited” ii Letter of Transmittal May 20, 2012 Sharmin Shabnam
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CHAPTER 6 Audit Planning, Understanding the Client, Assessing Risks, and Responding Review Questions 6–1 In their investigation of a prospective client, the CPAs should assess the backgrounds and reputations of the prospect and its major shareholders, directors, and officers. Thus, inquiries are made of underwriters, bankers, and attorneys that conduct business with the prospective client. Also, the CPAs are required to make inquiries of the prospect’s predecessor auditors
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CHAPTER 6 Audit Planning, Understanding the Client, Assessing Risks, and Responding Review Questions 6–1 In their investigation of a prospective client, the CPAs should assess the backgrounds and reputations of the prospect and its major shareholders, directors, and officers. Thus, inquiries are made of underwriters, bankers, and attorneys that conduct business with the prospective client. Also, the CPAs are required to make inquiries of the prospect’s predecessor
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C H A P T E R 2 CONCEPTUAL FRAMEWORK FOR FINANCIAL REPORTING LEARNING OBJECTIVES After studying this chapter, you should be able to: •1 •2 •3 •4 Describe the usefulness of a conceptual framework. Describe efforts to construct a conceptual framework. Understand the objective of financial reporting. Identify the qualitative characteristics of accounting information. Define the basic elements of financial statements. •6 •7 Describe the basic assumptions of accounting. Explain the
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