implementation, or controls over computer resources. Because most modern accounting information systems use IT, IT plays a significant role in a financial (external audit), where the purpose is to determine the fairness and accuracy of the financial statements. 2. Discuss the concept of independence within the context of a financial audit. How is independence different for internal auditors? Response: The auditor cannot be an advocate of the client, but must
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According to the Sarbanes - Oxley Act and Statement of Auditing Standards, Apollo, a publicly-traded company, should have an audit committee overseeing its internal financial reporting integrity. This audit committee would oversees the audits, both internal and external. Once found evidence of fraudulent accounting, external auditors must communicate the findings within Apollo with the committee or other governing body. External auditors also report the effect that the fraud may result with Apollo
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maintain independence, they present their reports directly to the board of directors or to top management. They provide functional operation to the concern. Internal auditors are employed by the organization they audit; their familiarity with the organization provides more insight into potential fraud and wrongdoing. External auditors are independent staff assigned by an audit firm to assess and evaluate financial statements of their clients or to perform other agreed-upon evaluations. Most external auditors
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Anderson, Olds, & Watershed Certified Public Accountants 615 Big City National Bank Building Main at Michigan Avenue Chicago, Illinois 60612 Phone: (312) 555-4452 Fax: (312) 555- 9991 www.aowcpa.com December 18, 2009 Peach Blossom Cologne Company 1308 Bee Hive Blvd Chicago, Illinois 60615 Dear Mr. Kevin Chen, You have requested that we audit the financial statements of Peach Blossom Cologne Company for 2009, which consist of the balance sheet, income statement, statement change in equity, and
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INFORMATION SYSTEMS AUDITING Haryono, MCom, Ak 1 Why study Information Systems and Information Technology? • Vital component of successful businesses • Helps businesses expand and compete • Businesses use IS and IT: To improve efficiency and effectiveness of business processes For managerial decision making For workgroup collaboration IS and IT change the business process dramatically 2 IT Inside Organization 3 SIMASTERGAMA Case study: UGM UNIVERSITY ENTERPRISE
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Can Financial Management Decisions Influence Firm Value Economy 2302 Monique Martin Chu Nguyen Financial management is a work plan that details the revenue and expenses of a company. Financial decisions are strategies that achieve the financial objectives of a company that include capital budgeting, capital structure, and working capital management. Modigliani and Miller (1958) received the Nobel Prize in economics for their study of the
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Annals of Financial Economics The Causal Relationship Between Bank Capital and Profitability David E. Hutchison and Raymond A. K. Cox 1 Westwood Development Group and University of Ontario Institute of Technology Abstract: The relationship between capital structure and return on equity is examined. It is shown that for banks in the U.S., for the relatively less regulated 1983 to 1989 period as well as the more highly regulated 1996 to 2002 period, there is a positive relationship between
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Vol. 3 No. 15; August 2012 Corporate Governance Attributes and Financial Reporting Quality: Empirical Evidence from Iran Pari Chalaki Department of Accounting Urmia University Iran Hamzeh Didar Department of Accounting Urmia University Iran Mohadeseh Riahinezhad M.A. student in Accounting Urmia University Iran Abstract The aim of this study is to investigate the effect of corporate governance attributes on financial reporting quality in firms listed in Tehran Stock Exchange (TSE)
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takeover letter, and reply. . Task 2: Perform preliminary analysis. • Task 3: Determine materiality and assess risk. • Task 4: Gain an understanding of the client’s internal control and assess control risk. • Task 5: Design and perform tests of controls and dual purpose tests. 5 BC2 Student Tasks • Task 6: Perform audit of cash. • Task 7: Perform audit of accounts receivable using dollar unit sampling. • Task 8: Perform audit of inventory. • Task 9: Perform audit of accounts payable using non-statistical
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| |Synopsis |The course introduces the vital role played by management accounting and the information provided by management accounting information | | |systems (MAIS) in a firm or an organisation. Management accounting is used for decision making, learning, planning and controlling | | |activities that are supporting operational and strategic needs
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