their employees, save resources by freeing them for other purposes and without the distractions of ancillary and support functions, everyone can focus on their individual tasks which improves efficiency and quality (Crosby, 2011). For example, “In an effort to manage costs and focus on its core competencies, Bank of Montreal decided to outsource its human resource processing functions to alleviate its administrative burden and utilize the technologies of the outsourcing firm. The agreement between Bank
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301 if the information disclosed already happens to be in the public domain. Similarly, an accountant cannot be held liable for the violation of client confidentiality if disclosures of client information are made pursuant to proceedings of a legal nature. Yet another critical responsibility of accountants to their clients has got to do with exercise of due professional care. This essentially means that should an accountant neglect professional standards in the execution of his or her duties, i.e
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audit quality include independence, objectivity, skepticism, and competence. Maintaining and improving the four elements is critical to increasing audit quality and the usefulness of the information provided. Independence According to the PCAOB Auditing Standards, auditors should maintain independent mental attitudes. Independence is defined by the AICPA Code of Professional Conduct as independence of both, mind and appearance. Independence of mind requires the auditor to act with integrity, free
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A GUIDE TO FORENSIC ACCOUNTING INVESTIGATION THOMAS W. GOLDEN, STEVEN L. SKALAK, AND MONA M. CLAYTON JOHN WILEY & SONS, INC. A GUIDE TO FORENSIC ACCOUNTING INVESTIGATION THOMAS W. GOLDEN, STEVEN L. SKALAK, AND MONA M. CLAYTON JOHN WILEY & SONS, INC. This book is printed on acid-free paper. Copyright © 2006 by PricewaterhouseCoopers LLP. PricewaterhouseCoopers refers to the individual member firms of the worldwide PricewaterhouseCoopers organization. All rights reserved. Published
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CORPORATE REPORTING AND ANALYSIS By Dr. S.A.S. ARUWA[1], CNA ____________________________________________________________________ Being a paper presented at ANAN Practitioners’ Forum at Mainland Hotel, Lagos on 3rd August, 2010 ____________________________________________________________________ Abstract Good corporate reporting is generally an indication of competitiveness and superior corporate governance. Good reports show initiative and effort on the part of the preparers. Significant
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Public Accountants (AICPA). The AICPA is responsible for establishing auditing and attestation standards for private companies in the United States and for enforcing a code of professional conduct for its members. The code is comprised of six principles that the auditors must adhere to. The principles are: responsibilities, the public interest, integrity, independence and objectivity, due care, and the scope and nature of services. Q2: Discuss the essential activities involved in the initial
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Chapter 1 Homework 1. Following is a list of various professional services. Identify each by its apparent characteristics as audit engagement, attestation engagement, or assurance engagement. Because audits are a subset of attestation engagements, which are a subset of assurance engagements, choose the most specific description. In other words, if you believe the engagement is an audit engagement, select only audit engagement. Similarly, the choice of assurance engagement for an audit, while
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32400_CH17_Pass1.qxd 10/5/08 3:17 PM Page 413 Chapter 17 FUNDAMENTALS OF HEALTHCARE BENEFITS FROM THE EMPLOYER PLAN SPONSOR’S PERSPECTIVE CRAIG STERN PART 1 FUNDAMENTALS OF HEALTHC ARE BENEFITS FROM THE EMPLOYER PLAN SPONSOR’S PERSPECTIVE INTRODUCTION Healthcare benefits are designed to meet the needs of beneficiaries. Benefits must rest on the foundation of the organization’s needs and expectations. As such, a benefit is not defined until there are analyses of demographics
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AIS Overview What can an AIS do? * Companies are able to track a variety of things. * The number of hours worked by employees all over the world. * The amount of sales taxes to be paid by one store. Types of AIS: Three categories of AIS: know the difference Manual systems * Generally used by small organizations. Entirely manual system would require: * Source document * Turnaround document- Company output sent to an external party, who often adds data to the document
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Management, Universiti Putra Malaysia Takiah Mohd Iskandar Faculty of Economics and Business Management, Universiti Kebangsaan Malaysia Hasnah Haron School of Management, Universiti Sains Malaysia ABSTRACT The Malaysian Approved Standards on Auditing, AI 240 on “Fraud and Error” (MIA, 1997) requires the auditor to assess the risk of fraud and error during the audit of financial statements. Based on the risk assessment, the auditor should design audit procedures to obtain reasonable assurance
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