AUDITING PROFESSIONAL 1 EXAMINATION - AUGUST 2011 NOTES: Section A - You are required to answer Questions 1, 2 and 3. Section B - You are required to answer any two out of Questions 4, 5, 6 and 7. (If you provide answers to more than two questions in this section, you must draw a clearly distinguishable line through the answer(s) not to be marked. Otherwise, only the first answers to hand for these four questions will be marked.) TIME ALLOWED: 3 hours, plus 10 minutes to read the paper. INSTRUCTIONS:
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party (preparer) (iii) Intended user (shareholders etc…) 2. Subject matter (what is being audited –> eg. fin. rpt) 3. Suitable criteria (against what -> eg.Acctg Stds) 4. Sufficient appropriate evidence (Enough quality) 5. Written assurance report Textbook page(s) 4 & 5 7
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integrity can be evaluated at any given-point-time; as a result, financial information’s inefficient, frauds and errors could able to be verified constantly. In the other hand, we could consider continuous auditing as a very detailed audit. 1 Historical development of continuous auditing As a kind of audit method, it theoretical sources is from the traditional auditing method. The traditional auditing theory is the basis of analyzing the continuous auditing. Most of the auditing is a format
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http://www.researchandmarkets.com/reports/1793282/ Hup Seng Industries Bhd Fundamental Company Report Including Financial, SWOT, Competitors and Industry Analysis Description: Hup Seng Industries Bhd Fundamental Company Report provides a complete overview of the company’s affairs. The report includes financial and SWOT information, industry analysis, opinions, estimates, Hup Seng Industries Bhd annual and quarterly forecasts made by stock market experts. The report also enables direct comparison
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Memo: To: Edward Sloane, Senior Audit Partner From: David Mynarski, CGA Date: January 15, 20X5 Re: Analysis of Issues for Vehicles for Hope Ltd. (VHL) Audit I have identified issues pertaining to the 2014 audit of VHL, based on the information provided in my meeting with VHL’s Accountant today. I have provided an analysis and recommendations for each of these issues. Financial Accounting Issues Under the Deferral method of accounting that VHL adheres to, the land, building and
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Mini Cases NWM: I believe the software system that best supports the company’s strategy is the “knowledge base and network” management system. The organizations mission is to “Help Clients Achieve Financial Security over a Lifetime.” The description they give for the path of getting there is as follows: “They want to leverage the traditional strengths of customer relationships, expert advice and strong product value to become the premier company helping clients achieve lifelong financial
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Vol. 6(1), pp. 1-18, April 2014 DOI: 10.5897/JAT2013.0127 ISSN 2141-6664 Copyright © 2014 Author(s) retain the copyright of this article http://www.academicjournals.org/JAT Journal of Accounting and Taxation Full Length Research Paper Auditors’ perceptions on impact of mandatory audit firm rotation on auditor independence –Evidence from Bahrain Kousay Said* and Hussein Khasharmeh Department of Accounting, College of Business Administration, University of Bahrain, P.O. Box:
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company has placed adequate disclosures in the financial statements, the auditor must choose between which of the following audit report alternatives? a. Unqualified report with a going-concern explanatory paragraph or disclaimer of opinion. b. Standard unqualified report or a disclaimer of opinion. c. Qualified opinion or adverse opinion. d. Standard unqualified report or adverse opinion. 3. A company accomplished an early extinguishment of debt, and the auditors believe that literal application
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standard unqualified audit report and explain the meaning of each part.How do the parts compare with those found in a qualified report? Seven part of a standard unqualified audit report: 1. Report title Auditing standards required that the report be titled and that the title include the word independent.The requirement that the title include the word independent is intended to convey to users that the audit was unbiased in all aspects. 2. Audit report address The report is usually addressed
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Standard-Based Decision Making Courteney Alderman ETH/376 March 23, 2015 Juanita Davis Audit Opinions When performing an audit there are four different types of audit opinions that Green and Associates can provide when the audit has been finished. They can provide an unqualified, unqualified with explanatory paragraph, qualified, and an adverse opinion. * Unqualified opinion- An auditor can give an unqualified opinion when it comes to a company’s financial statements when the financials
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