Certified Accounting Technician Examination Advanced Level Implementing Audit Procedures (International Stream) Monday 14 June 2010 Time allowed Reading and planning: Writing: 15 minutes 3 hours This paper is divided into two sections: Section A – ALL TEN questions are compulsory and MUST be attempted Section B – ALL FOUR questions are compulsory and MUST be attempted Do NOT open this paper until instructed by the supervisor. During reading and planning time only the question paper may
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Audit and Assurance Services Chapter 1 1 Learning Objectives 1. What is auditing? Distinguish between auditing and accounting. Importance of auditing in reducing information risk. 2. Distinguish audit services from other assurance and non-assurance services provided by CPAs. 3. Three main types of audits. 4. How to become a CPA? Identify the primary types of auditors. 2 What is auditing? Evaluating 3 Nature of Auditing Auditing is the
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Audit Adjustments. Jose A. Santos Nov. 19, 2013. Audit adjustments are proposed corrections of the financial statements that may not have been detected except through the audit procedures, regardless whether or not recorded by the entity. (www.wikiterm.com) According to AU Sec.380, Communication with Audit Committees, the auditor should inform the audit committee about adjustments arising from the audit that could, in his judgment, either individually or in the aggregate, have a significant
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Accordingly, the unit provides critical insights into the auditor's legal and societal role, the underlying conceptual theory of auditing, professional auditing techniques, and contemporary auditing issues. The core theme of this unit is the external audit of corporations, from initial planning to final reporting in the context of a professional environment. Assumed Knowledge Prerequisite: ACC101 – Fundamentals of Accounting I, ACC102 – Fundamentals of Accounting II, and ACC204 – Advanced
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| | | |Explain the phases of an evaluation of control and risk assessment |19, 20, 21, 22, 23, 24, 25 |60, 64, 65, 67, 68 | |and the documentation and extent of audit
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companies’ performance. The SEC also stipulates that the companies whose shares are publicly traded must complete an audit done by an independent auditor. The audit process involves an examination to whether or not the financial statements and accompanying notes present fairly stated the company’s financial position in accordance with generally accepted accounting principles. Once the audit is completed, the auditor concludes that the overall financial statement is not
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considering whether or not to accept a new audit client, the successor audit should make specific and reasonable inquiries of the predecessor auditor regarding matters that will assist the successor auditor in determining the acceptance of the engagement. Matters subject to inquiry include: information that might bear on the integrity of management, disagreements with management as to accounting procedures, or other similar significant matters, and communications to audit committees regarding fraud, or illegal
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underlie the audit process and how to apply those concepts to various audit assurance services. Through the first part of auditing course, much attention is given to the conceptual, theoretical and practical aspects of auditing financial statements. This course will also examines auditing theory and practice, emphasizing audit standards in Indonesian context, audit risks, materiality, characteristics of evidence, internal controls, auditors’ reports and professional ethics, sampling, and audit programs
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Assignment 2 AU2 Advanced External Auditing Question 2 a) Three specific business strategies that explain eBay’s decision to offer good for sale at fixed prices: 1. Expand into New Markets: With the shrinking market of auction bidders on eBay and a growing market of fixed price buyers, customers may not prefer to go in the direction of purchasing goods in an online auction. Since, in an online auction the customer has to wait till the end of the auction to see which buyer
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115 Changes and Benefits CC: Supervisor Dear Valued Client, In a recent move toward improving company communications pertaining to internal control matters it has been brought to our attention in this effort to provide the best service for clients Statement on Auditing Standards (SAS) No. 112 has been removed and replaced with SAS 115, which is in effect for audits being performed on or after December 15, 2009. Definitions Internal control is the method put into place by a company
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