Information System Auditing Assignment Name ACC/542 Date Sanders Moran Information System Auditing Assignment The article selected for this assignment is titled “Implementing the IT-Related Aspects of Risk-Based Auditing Standards”. It is an overview of the importance of performing a Risk-based audit and the necessary steps auditors take in implementing risk assessment within their audit. Two sets of standards drove the need for risk assessment for IT controls. The first; AICPA SAS 104-111
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1) Industry analysis is also referred to as external strategic management audit. 2) An external audit focuses on identifying and evaluating trends and events within the control of management. 3) The aim of an external audit is to develop an exhaustive list of every possible factor that could influence the business. 4) External audits attempt to identify key variables that offer actionable responses. 5) Five major categories of external variables are: 1) economic forces, 2) social
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unqualified opinion can be issued when, in fact, they are materially misstated. From the definition, we can see that responsibility for business failure is mainly on the management side. The management should be alert towards the internal and external factors affecting the business condition in order to avoid business failure. Business failure not necessarily linked or due to the fault of auditors. It’s the management responsibility to cope with the changing environment. On the other hand, audit risk
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management allegedly inflated earning by recording fictitious revenues and reducing expenses to meet Wall Street analysts’ earnings expectations. Also the employees that worked for Ernst and Young were now employed by CUC; this could be an independence factor. In the court testimony by Cosmo Corigliano, CFO of CUC he stated that the fraud was ingrained in everyone’s head by their superiors over a long period of time. So the
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BUSINESS & ACCOUNTING Towards Reducing the Audit Expectation Gap Possible Mission? Teck Heang Lee, Dr. Azham Md. Ali & Shamini Kandasamy 18 ACCOUNTANTS TODAY • February 2008 Towards Reducing the Audit Expectation Gap: Possible Mission? The auditing profession believes that the increase in litigation and criticism against auditors may be due to the audit expectation gap. The audit expectation gap is defined as the difference between what the public expects from an audit and what
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ABSTRACT Auditing disclosures play an important role within accounting reports as they provide a level of assurance to the users (public). These disclosures will be discussed in light of the collapse of Health International Holdings (HIH). The HIH collapse warranted a Royal Commission investigation and also recorded the biggest corporate collapse in Australia's history. Corporate failures of similar magnitude such as Enron and Parmalat have occurred elsewhere and sparked large scale investigation
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THE LEGAL REGULATION OF THE EXTERNAL COMPANY AUDITOR IN POST-ENRON SOUTH AFRICA Hannine Drake THESIS PRESENTED IN FULFILMENT OF THE REQUIREMENTS FOR THE DEGREE OF MASTER OF LAWS AT THE UNIVERSITY OF STELLENBOSCH Supervisor: Prof A.H. van Wyk March 2009 ii DECLARATION By submitting this thesis electronically, I declare that the entirety of the work contained therein is my own, original work, that I am the owner of the copyright thereof (unless to the extent explicitly otherwise
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is not undermined as the auditor will report misstatements (Pike, 2003). Stewart (1994) in Porter and Simon et al., (1996), likened independence to the “corner stone of auditing”. This means if the auditors are not independent of parties and other factors; it may affect their view on the audit report making the audit function have no value (Porter and Simon et al., 1996). An independent auditor adds value to the financial statement as the auditor is
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PSYCHOLOGY REVISION Eating behaviour * Attitudes to food and eating behaviour * Explanations for the success and failure of dieting * Neural mechanisms in eating behaviour Cognitive development * Paget’s theory of cognitive development * Vygotsky’s theory of cognitive development * Applications of cognitive developments theories to education Relationships * The formation of romantic relationships * The maintenance of romantic relationships * The
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Ways to Rock The Prepping you for the FCAT. Prepping you for the FCAT. L/A!!!!! Table of Contents Chapter 1-Reference and Research/Reliability/Validity/Synthesizing Page 1-2. Reference * What is Reference ? * Why is Reference important? * Think about it. Page 3-4. Research
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