all companies publicly traded will maintain an adequate system of internal controls (Kimmel, Weygandt & Keiso, 2009). Some of the internal controls characteristics include, control environment, risk assessment, control activities, information/communication, and monitoring. According to Roadmap for an IPO, private companies pondering on going public should consider the following: 1. Internal control: Management, like the CEO and CFO, is required by section 404 of SOX to provide certifications
Words: 820 - Pages: 4
The Lakeside Company Case Studies in Auditing Twelfth Edition John M. Trussel Dalton State College J. Douglas Frazer Millersville University Boston Columbus Indianapolis New York San Francisco Upper Saddle River Amsterdam Cape Town Dubai London Madrid Milan Munich Paris Montreal Toronto Delhi Mexico City Sao Paulo Sydney Hong Kong Seoul Singapore Taipei Tokyo Editor in Chief: Donna Battista Acquisitions Editor: Stephanie Wall Editorial Project Manager: Christina Rumbaugh
Words: 48183 - Pages: 193
------------------------------------------------- Smackey dog food Auditing [Date] tamucc [Company address] [Date] tamucc [Company address] Smackey Dog Food is a family owned and operated company that began as a dream of two sister’s and its meager beginnings were established in the kitchen of their home. The business has become more profitable and thus the sisters have a need to expand the business into a larger facility. There was a need to hire additional employees in order to
Words: 4656 - Pages: 19
AUDIT PRACTICE & ASSURANCE SERVICES PROFESSIONAL 2 EXAMINATION - APRIL 2010 NOTES: SECTION A: Answer Question 1, and SECTION B: Answer any two from Questions 2, 3 and 4. (If you provide answers to more questions than required in Section B, you must draw a clearly distinguishable line through the answer not to be marked. Otherwise, only the first two questions to hand will be marked.) Time Allowed 3.5 hours, plus 20 minutes to read the paper. Examination Format This is an open book
Words: 8397 - Pages: 34
IN EQUITY .......................... 36 STATEMENT OF CASH FLOWS ....................................... 37 NOTES TO THE FINANCIAL STATEMENTS ..................... 38 DIRECTORS’ DECLARATION ........................................... 86 INDEPENDENT AUDIT REPORT ..................................... 87 SHAREHOLDER INFORMATION ..................................... 89 Super Retail Group Limited ANNUAL REPORT 2013 PERFORMANCE TRENDS 1654.1 2020.0 140.7 JUN 07 1092.3 828.8 938.0
Words: 41260 - Pages: 166
Key players Based on the issues identified above, determine the key players involved, their position/roles and the main decision that they have to make. Num. Who? Position/roles Main decision 1 Encik Zayed Director 1. Whether to negotiate with the external auditor to issue an unqualified report. 2. Whether to terminate the auditor’s appointment so in order for him to success in applying loan from the banks. 3. Whether to commit and invest on necessary training to enhance the knowledge of
Words: 1074 - Pages: 5
Accounting Fraud at WorldCom 1) What are the pressures that lead executives and managers to “cook the books?” After the rapid evolution of the telecommunication industry in the 1990s, WorldCom shifted its strategy to focus on building revenues and acquiring capacity sufficient to handle expected growth. Their biggest goal was to be the No. 1 stock on Wall Street rather than capturing the market share. As a result, their Expense-to-Revenue (E/R) Ratio was their measurement for their main objective
Words: 3407 - Pages: 14
Capitalizing on Capabilities By Dave Ulrich and Norm Smallwood Assets like leadership, talent, and speed are what produce superior market value. A capabilities audit can show you how you measure up—and how to build on your intangible strengths. 1 [bio] Dave Ulrich, on leave from the University of Michigan, is currently mission president of the Canada Montreal Mission for the Church of Jesus Christ of Latter-day Saints; he can be reached at dou@umich.edu. Norm Smallwood is a cofounder of Results-Based
Words: 5127 - Pages: 21
Auditing Research Paper City of Dixon Embezzlement 11/6/2012 ACC 235 Growing up in a small town, Rita Crundwell spent most of her life very close to the town of Dixon. She was from a well brought up, hard working family and was one of six children. Her family was very interested in horses and would participate in horse shows while the children were growing up. Rita was an honors student while in high school, landing in the top 20 out of 300 students who were in the National Honors
Words: 3205 - Pages: 13
Comprehensive Case A.1 – Enron I. Technical Audit Guidance To maximize the knowledge acquired by students, this book has been designed to be read in conjunction with the post-Sarbanes-Oxley technical audit guidance. All of the post-Sarbanes-Oxley technical guidance is available for free at http://www.pcaobus.org/Standards/index.aspx. In addition, a summary of the Sarbanes-Oxley Act of 2002 is also available for free at http://thecaq.aicpa.org/Resources/Sarbanes+Oxley/Sarbanes-Oxley+–+The+Basics
Words: 9690 - Pages: 39
