| On-time submission | N/A | N/A | N/A | | TOTAL | | Case analysis STAGE 1 Issues Explain the main issues underlying the case. Place extra attention on the what, why and when. Main issue regarding to the Flat Cargo Berhad is consist of few factor, the main issue face by Flat Cargo Berhad, accounting fraud, found that Flat Cargo Berhad (FCB) was involved in fraud, this matter will bring great impact to the accounting profession of Malaysia and the public confidence towards the profession will
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Series: Economics and Organization Vol. 5, No 1, 2008, pp. 17 - 29 EXTERNAL AND INTERNAL FACTORS АFFЕCTING THE PRODUCT AND BUSINESS PROCESS INNOVATION UDC 001.895:658.62 Nebojša Zakić, Ana Jovanović, Milan Stamatović Faculty of Entrepreneurial Business, Union University, Belgrade Abstract. The competitive advantage of a company strongly depends on its possibility to benefit from innovational activities. Understanding the factors that affect product and process innovation and their effects is necessary
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point of view of: (a) the internal auditor (b) the external auditor 3. (a) Discuss the role of an internal audit department in a large business organisation. (b) What objectives are common to both internal and external auditors? (c) What factors should be considered by external auditor when deciding to what extent he or she may rely on the work of the internal auditor? (d) In what specific ways can the internal auditor help the external auditor? 4. The audit committee has asked you to
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1. Why does Molex have to hire external auditors? The major reason for firms to hire external auditors is to help the control of conflict of interest between firm managers, investors and shareholders. External auditors help you determine whether companies are in compliance with all applicable Internal Revenue Service rules. Under the Sarbanes-Oxley Act, a public company must hire an external audit team to review their accounting procedures and their financial statements. While internal auditor checks
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Oversight Board. It provides specific processes and procedures for compliance audits, policies for control purposes. Basically it provides an oversight of public accounting firms that do auditing. 2. Auditor Independence: It provides standards for external auditor independence, so that conflicts of interest can be minimized. It also mentions the requirements for appointing new auditor and auditor reporting requirements. Auditing companies are prohibited from providing non-audit services (consulting)
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Independence - Its Importance to the External Auditor's Role in Banking Regulation and Supervision Marianne Ojo Oxford Brookes University - School of Social Sciences and Law; The Institute for Business and Finance Research, LLC; Covenant University January 1, 2006 Abstract: The role of the external auditor in the supervisory process requires standards such as independence, objectivity and integrity to be achieved. Even though the regulator and external auditor perform similar functions
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all circumstances. This study attempts to explore the determinants of auditor independence as perceived by Malaysian accountants using a self-administered mail survey. It was evidenced from the survey that size of audit fees is the most important factor, followed by competition, size of audit firm, tenure, provision of management advisory service and finally audit committee. More specifically, the study indicates that (1) larger size of audit fees, (2) audit firms operating in a higher level of competitive
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How Internal and External Factors Impact the Planning Function of Management within Dell Introduction This paper will discuss how internal and external factors impact the planning function of management within Dell Computer Corporation. These factors are rapid change, globalization, technology, e-business, innovation, diversity and ethics. All these factors have an affect on how the management at Dell plans for the future and reaches it’s ever changing goals. Rapid
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Auditor independence refers to the position of the external auditor’s level of personal and financial ties to a particular organization which can sometimes be complex. When deciding whether to accept an auditing engagement, one must judge their independence and objectivity. This is why integrity is imperative in business, especially within the world of audit. Congress passed the law, The Sarbanes-Oxley Act of 2002 (SOX) that applies to publicly held companies and their auditors. It was intended
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Pinnacle for three years. Therefore, the inherent risk can be lower as the auditor has adequate previous audit works. Such repeat engagement will lower the inherent risk. This case outlines a number of factors related to fraudulent financial reporting that increase the inherent risk. Most of these factors are concluded by understanding the Pinnacle’s business. Concerning the measurement of performance, Pinnacle has introduced performance review system which will induce improper accounting. In this case
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