Billy Bob Trapped Doors and Trojan Horses Discussion questions 1. Forensic auditing is basically going through one aspect of an audit with a comb. The auditor will be paying more attention to specifically cases that have fraud. This is mostly done when fraud is suspected. They will do as much as possible for that one aspect to make sure it is acceptable or not. 2. Danny Mays was submitting fake expense forms from employees to other offices. When it goes through the computer, Mays
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Threats to independence 1. Self-interest threat- financial or other interests of members or their close family. 2. Self-review threat- when the auditor has to re-evaluate work completed by himself. 3. Advocacy threat- when the auditor is asked to promote the client’s position or represent them in some way. 4. Familiarity threat- when the auditor is too sympathetic or trusting of the client because of a close relationship with them. 5. Intimidation threat- intimidates the auditor to give
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Sections 224 Appointment and remuneration of auditors 224A Auditor not to be appointed except with the approval of the company by special resolution in certain cases 225 Provisions as to resolutions for appointing or removing auditors 226 Qualifications and Disqualifications 227 Powers and duties of auditors 228 Audit of accounts of branch office of the co. 229 Signature of audit report 230 Reading and inspection of auditor’s report 231 Right of auditor to attend general meeting
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Generally Accepted Auditing Standards Paper Name Institution Generally Accepted Auditing Standards Paper Recently, the need for enhanced auditing regulations has increased. This has been orchestrated by the demand from the public for an increase in the regulation of corporate accounting. In particular, following a number of scandals that have befallen major companies leading to their bankruptcy, investors
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internal controls in the financial reporting process. My firm has years of experience in supporting organizations with these requirements. Not only is an independent audit of financial statements required by law, but it can also serve to provide external stakeholders with assurance that your financial statements are fairly presented in accordance with generally accepted accounting principles (GAAP). These stakeholders, including banks, investors, and other creditors, rely on this assurance to assess
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AIIMS NOVEMBER 2011 Mcqs with answers 66-105 still 95questions remaning post it soon 66.A patient presents with pain over the thumb, index and middle finger. All of the following tests are done except a.Finkelstein test b.Tinel test c.Phalen test d.Torniquet test ans=c 67. Which of the following is not involved in translation in eukaryotes? a.Ribosome b.Peptidyl transferase c.Aminoacyl tRNA d.RNA polymerase ans=d 68. Ossification centre first appears at – a.end
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Introduction Accountants have a responsibility to clients, third parties, and to the government. To the clients, accountants have an ethical responsibility to: protect them, provide accurate financial information, represent them with enthusiasm and maintain high ethical standards. Accountants’ responsibilities to third parties consist of the accountant’s duty of care, possessing the necessary skills and acting the good faith. An accountant’s responsibility to the government is to provide accurate
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Case 10 Total Computer, Inc. As a whole, the evidence collected by the auditors was insufficient. The working papers were created by the client and the auditors relied heavily on conversation and correspondence from the client. While Total Computer, Inc. may have been truthful in their discussions with the auditor, it is necessary that the auditor use professional skepticism and verify the given information. When dealing with inventory reserves, estimates are based off a lot of personal judgment
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[Type the company name] | CAFR PROJECT | Review of the City of Monmouth Oregon’s CAFR | | [Type the author name] | [Pick the date] | Comprehensive Annual Financial Report (CAFR) Governmental Accounting Assignment. | Review of the City of Monmouth Oregon’s CAFR This document consists of a brief overview of the City of Monmouth Oregon’s Comprehensive Financial Report (CAFR) for year ending June 30th, 2005. CAFR Table of Contents At the beginning of Monmouth’s CAFR, after the title
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Weston and Emerald Homes transactions were very similar to mine in that questions about loans LSL had given out during the transactions were questionable in terms of whether LSL had provided them as assurance against failed loan payments. Unlike my analysis, the audit procedures used were more in-depth with the auditor looking at percent of sales prices and repayment terms. The auditors had the ability to trace cash to and from escrow to determine whether LSL indirectly financed the Emerald Homes sales
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