Subjects for study Six subjects and Seven Papers of study in IPCC are – Group I Paper 1: Accounting (100 marks) Paper 2: Law, Ethics and Communication Part I: Law (60 marks) Business Laws (30 marks) Company Law (30 marks) Part II: Business Ethics (20 marks) Part III: Business Communication (20 marks) Paper 3: Cost Accounting and Financial Management Part I: Cost Accounting (50 marks) Part II: Financial Management (50 marks) Paper 4: Taxation Part I: Income-tax (50 marks) Part II: Service Tax (25
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Planning the Audit Process I wanted to let you know that Apollo Shoes is satisfied with our services and wants to continue with a full audit. Therefore I wanted to explain to you how I plan to conduct the audit. I will begin with an explanation of the objectives, responsibilities and strategies for completing the audit. This will be followed by explanations on how analytical procedures will be used to plan, conduct and complete the audit, how materiality and risk will be consider in designing the
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Introduction to Accountant Responsibility Essentially, accountants have a responsibility a number of parties, with the major parties in this case being the government, clients and third parties. In today’s capitalist society, the accounting profession is deemed to be a common and important feature. Discussing the responsibilities accountants have to the three parties identified above would, therefore, certainly be a prudent and logical move. Responsibility to Clients To begin with, accountants
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Smackey Dog Foods, Inc. was started by three sisters in their home in the suburbs of Chicago. They built a company based on an idea of making exceptional natural dog food not only for their dogs but also for their community. Its popularity grew and they expanded their business to opening a boutique division named Best Boy Gourmet, with food that must be consumed no later than 3 days after its production. This was the beginning of some issues that as the company grew, these issues grew also. Major
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Mid-Term Examination #2 ADM 3349 B AUDITING THEORY November 18, 2009 Professor: B. Church | | |INSTRUCTIONS | | | |1. Books and notes are not permitted.
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A. 1. Audit committees of public company board of directors responsibilities since SOX 2. Sarbanes-Oxley section 404 on internal control 3. The accuracy of public company financial statements and the cost of capital for public companies 4. The main advantages and disadvantages of Sarbanes-Oxley Act B. Can legislation guarantee the accuracy of public company financial statements? Why have previous laws failed? Why CEOs and CFOs are paying so much attention to this law? Audit Committees
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Independent professional services that improve the quality of information for decision makers. Attestation services: 鉴证服务 A type of assurance service in which the public accounting firm issues a written communication that expresses a conclusion about the reliability of a written assertion of another party. Audit of historical financial statements: A form of attestation services, the auditor issues a written report expressing an opinion about whether the F/S is in material conformity (一致) with accounting
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governance Corporate governance can be defined as communication of audit matters with those charged with governance (ISA 260). Governance itself describes the role of person entrusted with the supervision, control and direction of an entity. Different company may have different bodies who responsible for the corporate governance. But nowadays, audit committee has been the important components of this responsibility as most of the company placed this role to audit committee. Even in ISA 260 requires auditor
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requesting an audit, B&F is asked to provide assistance with regard to the upcoming IPO and Ocean’s newly installed IT system. This paper is structured in two different memos. The first one elaborates on the evaluation of Ocean from five critical standpoints and concludes with an opinion on whether to accept the engagement. The latter one points out five critical factors, which have to be taken into account when the audit is accepted. 2. Independence review While establishing the audit team, independence
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Waste management auditing Example waste audit specification Introduction In 2010-11 it is estimated that the Victorian healthcare system generated 41,674 tonnes of waste. About 70 per cent was general waste, 20 per cent was recycled and 10 per cent was clinical waste. Clinical waste is the most expensive waste stream comprising on average two-thirds of total waste costs. Waste audits are an essential waste management tool to enable healthcare providers to understand how their waste management system
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