Memo: To: Edward Sloane, Senior Audit Partner From: David Mynarski, CGA Date: January 15, 20X5 Re: Analysis of Issues for Vehicles for Hope Ltd. (VHL) Audit I have identified issues pertaining to the 2014 audit of VHL, based on the information provided in my meeting with VHL’s Accountant today. I have provided an analysis and recommendations for each of these issues. Financial Accounting Issues Under the Deferral method of accounting that VHL adheres to, the land, building and
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Mini Cases NWM: I believe the software system that best supports the company’s strategy is the “knowledge base and network” management system. The organizations mission is to “Help Clients Achieve Financial Security over a Lifetime.” The description they give for the path of getting there is as follows: “They want to leverage the traditional strengths of customer relationships, expert advice and strong product value to become the premier company helping clients achieve lifelong financial
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Vol. 6(1), pp. 1-18, April 2014 DOI: 10.5897/JAT2013.0127 ISSN 2141-6664 Copyright © 2014 Author(s) retain the copyright of this article http://www.academicjournals.org/JAT Journal of Accounting and Taxation Full Length Research Paper Auditors’ perceptions on impact of mandatory audit firm rotation on auditor independence –Evidence from Bahrain Kousay Said* and Hussein Khasharmeh Department of Accounting, College of Business Administration, University of Bahrain, P.O. Box:
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company has placed adequate disclosures in the financial statements, the auditor must choose between which of the following audit report alternatives? a. Unqualified report with a going-concern explanatory paragraph or disclaimer of opinion. b. Standard unqualified report or a disclaimer of opinion. c. Qualified opinion or adverse opinion. d. Standard unqualified report or adverse opinion. 3. A company accomplished an early extinguishment of debt, and the auditors believe that literal application
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standard unqualified audit report and explain the meaning of each part.How do the parts compare with those found in a qualified report? Seven part of a standard unqualified audit report: 1. Report title Auditing standards required that the report be titled and that the title include the word independent.The requirement that the title include the word independent is intended to convey to users that the audit was unbiased in all aspects. 2. Audit report address The report is usually addressed
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Standard-Based Decision Making Courteney Alderman ETH/376 March 23, 2015 Juanita Davis Audit Opinions When performing an audit there are four different types of audit opinions that Green and Associates can provide when the audit has been finished. They can provide an unqualified, unqualified with explanatory paragraph, qualified, and an adverse opinion. * Unqualified opinion- An auditor can give an unqualified opinion when it comes to a company’s financial statements when the financials
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Ms. Jill Karnick, the BDO Seidman semi-senior who had been assigned the primary responsibility for auditing HMI's inventory account, took the witness stand. Karnick revealed in fact, she had attempted during the audit to perform an inventory roll forward, which is essentially equivalent to an inventory roll back. But she didn't continue to carry out the test for it was "normal practice" to discard the results of inconclusive audit test. Working paper must contain an accurate statements and data
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Assignment 1: Annual Report Project Due Week 8 and worth 20 points The purpose of a corporate annual report is to communicate to stockholders and other interested parties its financial statements. The annual report is a summary of the corporation’s operations over the previous 12-month time period and states the corporation’s plans for the future. Many annual reports are created to resemble a corporate brochure, using lots of pictures, color, charts, and graphs. Despite the fancy look, the main
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shareholders and allow the company to receive the highest possible price for its shares. The CFO has provided you, an accountant who works in Huaraz’s finance department a list of contentious accounting issues facing the company. Required: Prepare a report to the CFO that addresses the contentious accounting issues. Provide support for your recommendations. (You should provide brief solutions to each of these issues. In coming up with a solution you should recognize that not every problem has a definite
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The Investor Relations Society ‘Determinant Factors for Best Investor Relations’ 1. Best Communication of strategy, performance and key performance indicators (KPIs) in the annual report |Business and financial review |Best Practice | |requirements |
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