THE UNIVERSITY OF BURDWAN DIRECTORATE OF DISTANCE EDUCATION TERM PAPER ON CORPORATE GOVERNANCE PRACTISE BY DIFFERENT COMPANIES OF INDIA AND OTHER COUNTRIES. COURSE: MASTERS IN BUSINESS ADMINISTRATION PAPER: BUSINESS LAWS AND CORPORATE GOVERNANCE. PAPER CODE: MBD 107. SEMESTAR: 1ST SUBMITTED BY SOUMYA KANTI BOSE ENROLLMENT NO: DDE/MBA/JUL2013/14. REGISTRATION NO: APPLIED FOR. SESSION: JULY 2013 - JUNE 2015. INDEX PARTICULARS | PAGE NO | Introduction | 03 | Objectives of Study
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controls: its audit committee its management team or its independent auditors? Explain The management has the final responsibility for the authenticity of internal controls. The client prepares the financial statements and the management makes certain claims or assertions about these numbers. The auditor's validate the management's assertions by identifying audit objectives, which are the auditor's version of assertions on the financial statements. The auditors are hired by the audit committee,
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Framework Provides for Internal Audit and Corrective Action……………………………………………………………………..4 V. Summary..………………………………………………………………...4 VI. References………………………………………………………………...5 II. Why Transparency? Due to many of the scandals that have arisen in recent years; Enron, AOL Time Warner, Adelphia Communications and other corporations according to Forbes (2002, Patsuris). Due to these scandals, the United States government stepped in and started making regulatory changes such as disclosure requirements
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she considers necessary. Other findings that could result in modification of the auditor’s report. Compliance of Auditing Standards and Audit Documentation – a must for all practice units satisfy any applicable legal or regulatory requirements for records retention. Internationally the norm is assemble the final audit file and submit it for archiving within 60 days from the date of our audit report. The PCAOB standard has shortened this period to 45 days. 51 The auditor would also need to adopt
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Introduction This manual sets forth the official compliance policies of Edward Jones. All individuals employed by or working at the firm are required to familiarize themselves with the content and review the manual at least annually. While the manual addresses policies of a compliance nature, individuals are expected to conform to the laws, rules and regulations of the industry and their particular jurisdiction regardless of whether they are covered in this manual. Standards of fairness and
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THE RESULTS, AND (G) INTERESTED USERS. 2. A financial statement audit involves obtaining and evaluating evidence about an entity's financial statements for the purpose of expressing an opinion on whether the statements are presented fairly in conformity with established criteria--usually GAAP. Thus, the nature of the auditor's report is an opinion on the fairness of the financial statement presentation. A compliance audit involves obtaining and evaluating evidence to determine whether certain
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Audit From Wikipedia, the free encyclopedia For other uses, see Audit (disambiguation). The examples and perspective in this article may not represent a worldwide view of the subject. Please improve this article and discuss the issue on the talk page. (January 2010) This article needs additional citations for verification. Please help improve this article by adding reliable references. Unsourced material may be challenged and removed. (October 2010) Accountancy Key concepts Accountant
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THE AUDIT FIRM GOVERNANCE CODE A PROJECT FOR THE FINANCIAL REPORTING COUNCIL Audit Firm Governance Working Group Chairman: Norman Murray January 2010 The ICAEW operates under a Royal Charter, working in the public interest. Its regulation of members, in particular in respect of auditors, is overseen by the Financial Reporting Council. As a world leading professional accountancy body, the ICAEW provides leadership and practical support to over 132,000 members in more than 165 countries, working
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Trading, and oil and Gas) with a commitment to contribute to the economy of the country. A highly dynamic, growth oriented, federated organization where daily changes in business interests, processes and key personal is a business norm. Internal regulatory requirements are the presentation of quarterly enterprise performance reports to the shareholders for a portfolio of 5 holding companies, where each holding has several operating companies, investments and joint ventures. A second requirement is
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Regulatory and Compliance Issues Paper •If auditing of financial statements is required primarily for the protection of public investors, should not all PCAOB members be taken from the investment community that uses audited financial statements? •What regulatory compliance requirements apply to various business situations? The Public Company Accounting Oversight Board (PCAOB) is a private-sector, nonprofit corporation created by the Sarbanes–Oxley Act of 2002 to oversee the audits of
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