Anne Aylor Case [a] Why are different materiality bases considered when determining planning materiality? Financial information have a lot of different areas and its now equally important for its users. In the case of auditor, based the preliminary procedures performed and the nature of the entity, only some areas that he would need to be focus on. [b] Why are different materiality thresholds relevant for different audit engagements
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CASE NO. 4 CORPORATE GOVERNANCE: VALUES VERSUS ETHICS 1. Is Manuel Dolorica still liable with the accusations brought out by the whistle blower? No, Manuel Dolorica is no longer liable with the accusations brought out by the whistle blower. The moment the whistle blower came out and made known to the public the corruptions of government officials, Manuel is not working as an auditor for the government anymore. As an auditor, he performed his responsibility of auditing the government funds and
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1. Discuss the environmental, strategic and organizational changes that occurred over the life of Andersen in the context of Figure 11.1. Architectural design of firm may vary among companies. There are most common categories are business environment, strategy, and organizational architecture. Business environment of Andersen includes technology that was used effectively; structure of its markets, regulations which helped Andersen to grow along with its reputation. The second category is strategy
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Audit Process Planning The auditor will review any prior audits in your area and professional literature. The auditor will research applicable policies and statutes and prepare a basic audit program to follow. Notification The auditor will notify the appropriate department or departmental personnel regarding the upcoming audit and its purpose, at which time an entrance conference will be scheduled. Entrance Conference The entrance conference will include management and any administrative personnel
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Function | Finance | Process Name | Verification of Vendors Invoices by External Party for Project Work | Sub-process Name | Sample Physical & Field work verification by Third party as per invoice submitted by vendor | Process Code | | TABLE OF CONTENTS Section | Contents | Page Number | I. | Process Owners | 2 | II. | Process Overview | 3 | III. | Process Details | 4-7 | IV. | Annexure and Formats | 8 | PROCESS OWNERS Particulars | Names | Contact No | Email ID |
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are inclusive for other organizations too. Island Ceremonies, is a non-profit outreach ministry, which has both internal and external audits. The difference is the requirements, some charitable non-profits based on size, and budget may not be required to have independent audits, however; internal audits are still required, and many, such as Island Ceremonies, have external or individual audits completed.
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BA 3322 – Report (Lecture 4 – Auditing the Revenue Cycle) Drea Tech Company has been growing rapidly and has recently engaged your firm as its auditor. It is actively traded over the counter (OTC) and management believes it has outgrown the service capabilities of its previous auditor. However, on contacting the previous auditor, you can learn that a dispute led to the firm’s dismissal. The client wanted to recognize income on contracts for items produced but not shipped. The client believed the
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3-26 A- “The financial statements referred to above present fairly, in all material respects, the financial position” rather than “The financial statements mentioned above are correctly stated.” The first phase is used because it uses the word material respects which indicate that the auditors are only responsible to search for significant misstatements, not minor misstatements that do not affect the decision makers. The second phrase is indicating that the auditor’s reviewed the entirety of
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Running head: AUDITING Auditing Joey Willoughby OMM622 Financial Decision Making Instructor: Wayne Hollman August 11, 2014 Auditing This inquiry will exemplify what the staff should anticipate auditors to do
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Ethics Assignment Victor M Rodriguez Dona Ana Community College This assignment is very interesting, because it, once again, exposes an individual with the classic predicament of speaking out or remaining quiet. Each course of action has potential implications for all stakeholders in this situation. This document will attempt to delve into those courses of action to try to arrive at the best possible recommendation for our network administrator (NA) facing this tortuous dilemma. The dilemma
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