expenditure. These are salaries, telephone and fax, fuels and lubricants, medical expenses, transport and traveling, entertainments, electricity and water, printing and stationeries, repairs and maintenance, insurance, trading licence, professional fees ie. Audit fee, bank charges, office rent, directors’ remuneration, tyres and tubes, advertisements, depreciation and other expenses (i) Any fund disbursed from LEMITA Bank Account should be spent
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Financial Reporting Timeline The creation of: 1. Committee on Accounting Procedures Role - With the recent increase in members, the SEC delegated the responsibility of issuing pronouncements on accounting principles to the Committee. The SEC worked with the Committee on Accounting Procedures to develop standards for accounting and financial reporting and issued 51 Accounting Research Bulletins (ARBs) over its lifetime. In 1949, they updated 42 of their original ARBs and codified them.
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United States Government Accountability Office GAO February 2009 GAO-09-232G FEDERAL INFORMATION SYSTEM CONTROLS AUDIT MANUAL (FISCAM) This is a work of the U.S. government and is not subject to copyright protection in the United States. The published product may be reproduced and distributed in its entirety without further permission from GAO. However, because this work may contain copyrighted images or other material, permission from the copyright holder may be necessary if
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the objective in financial reporting. My answer is no because both acknowledge that financial reporting should be accurate and reliable based on information provided by the company. When financial statements are looke over by creditors, investors, or IRS personnel the information should be relevant to account documents represented and be easily identified as accurate. IFRS 2-3: What terms commonly used under IFRS are
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The duties, status and liability of the auditor WHAT IS AN AUDIT?[1] The word “audit” comes from the Latin word audire which means “to hear” because, in the middle Ages, accounts or revenue and expenditure were “heard” by the auditor. An audit is the process of checking that the way an organisation presents information about its financial position (its ‘Financial Statement of Accounts’) is true and fair. In essence, ‘true and fair’ means that, in the auditor’s opinion, the company’s financial
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FORENSIC AUDITING As stated by Gordon Brown, the former Prime Mister of the United Kingdom, “what the use of fingerprints was to the 19th century and DNA analysis was to the 20th century, forensic accounting will be to the 21st century”. When people first see the word “forensic”, they naturally categorize it into a science-related field. According to Webster’s Dictionary, the term “forensic” is defined as “belonging to, used in, or suitable to courts of judicature or to public discussions and debate”
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empathetic code of ethics, to include values of integrity, accountability, confidentiality as well as encourage the development of creativity and innovation that continues to promote a healthy mind and a healthy being, A. Standards & Procedures All employees are to use the Golden Rule at all times with all persons they are in contact with. You should treat others the way you would like to be treated. You are to greet everyone that enters our doors with a smile and welcome them to Relax-
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SELECT APPLICATION CONTROLS REVIEW OF THE FEDERAL BUREAU OF PRISONS’S SENTRY DATABASE SYSTEM U.S. Department of Justice Office of the Inspector General Audit Division Audit Report 03-25 July 2003 SELECT APPLICATION CONTROLS REVIEW OF THE FEDERAL BUREAU OF PRISONS’S SENTRY DATABASE SYSTEM EXECUTIVE SUMMARY SENTRY is the Federal Bureau of Prisons’s (BOP) primary mission support database. The system collects, maintains, and tracks critical inmate information, including inmate location, medical
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DESIGN PAPER Vision/goal of the implementation - Heidi (15 points) Remember Meaningful Use and ARRA, usability and clinical workflow Vision Statement: Deliver the best of care to our community through the implementation of a hospital-wide Clinical Information with the ability to provide the right information, to the right person, in the right format, through the right channel, at the right point in clinical workflow to improve patient-centered care and healthcare outcomes. The implementation
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more diligent accounting reporting practices. Until recently, detecting fraud was thought to be a part of the responsibility of the accountant. Fraud was something the internal or external auditors were expected to guard against by their periodic audits. We now know that auditors can only check for compliance of a company’s books to the Generally Accepted Accounting Principles (GAAPs) and to company policy; therefore, a new category of accounting had to be established, one which revealed the fraud
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