Substantive Procedures for Cash Outflow Irregularities Substantive Procedures for Cash Outflow Irregularities There are many irregularities that can arise within the different accounting departments at Apollo Shoes. An audit program will be designed according to the three cycles that will be outlined below. The first cycle that will be discussed is cash‚ then accounts payable and finally the payroll function. These cycles will be evaluated for substantive procedures for Apollo Shoes
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Substantive Procedures for Cash Outflow Irregularities Substantive Procedures for Cash Outflow Irregularities Apollo Shoes has recognized that there is a risk of loss due to irregularities in cash outflows‚ accounts payable‚ and payroll. Substantive procedures for cash outflows‚ accounts payable‚ and payroll are needed to detect irregularities in each of these. Failure to implement appropriate procedures will lead to loss irregularities. Substantive Procedures to Evaluate Cash Irregularities
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Substantive law is law that defines rights and duties‚ such as crimes and punishments‚ civil rights and responsibilities in civil law. An example of substantive law is the law of murder: intentionally killing another person. Substantive law basically answers the question: What is the law? Procedural law is the law governing the machinery of the courts and the ways by which both the state and the individual enforce their rights in the courts. Procedural law is more like when a person can be arrested
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You must make a substantive response to each of the questions listed below. Be thoughtful in your response. Quantity is not as essential as creative thinking. Two or three substantial sentences would generally be appropriate. In your opinion‚ what is the major ethical issue in this case? Underage workers and working conditions in third world countries. Identify the Stakeholders (stated or implied) Nike‚ Its competitors‚ customers‚ Nike employees‚ Labor organizations‚ Universities‚ Mass media
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Chapter 15 Audit Sampling for Tests of Controls and Substantive Tests of Transactions ← Review Questions 15-1 A representative sample is one in which the characteristics of interest for the sample are approximately the same as for the population (that is‚ the sample accurately represents the total population). If the population contains significant misstatements‚ but the sample is practically free of misstatements‚ the sample is nonrepresentative‚ which is likely to result in
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The JA does not allow courts to award damages for the breach of equitable obligation therefore‚ it is argued that substantive fusion has not occurred. This strengthens the dualism argument and supports Ellesmere’s comment. However‚ as common law and equity are administered in one court it is argued that each jurisdiction has borrowed from the other but‚ this has not happened because the remedies do not cross over. However‚ it is argued that the different remedial responses of the common law and equity
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Explain what “Substantive rules” are and give one example how it can be used in public policy making. A substantive rule is an administrative rule created by a government agency’s exercise of delegated quasi-legislative authority. It is adopted by government agencies in accordance with the notice and comment requirements of the Administrative Procedure Act. These rules have the force of law. A substantive rule is also known as the legislative rule. http://definitions.uslegal.com/s/substantive-rule An example
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Cash & Cash Equivalents Introduction: Cash & cash equivalents may constitute a significant proportion of the total assets of an entity. It is the most liquid asset found within the asset category of a company ’s balance sheet. It is an important criterion to evaluate the liquidity and the short term solvency of a business venture. Liquidity and short term solvency means the ability of the business to pay its short term liabilities. Inability to pay-off short term liabilities affects its credibility
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Cash or Not? Whether or not cash should be eliminated is a big debate in our world today. Cash should not be eliminated to provide for safer control of your money. Without cash‚ plenty of problems appear like acts of crime‚ not having banking connections‚ and having your personal information on record. To start off with‚ criminals and hacking progress as technology does. In the Upfront magazine article called "The End of Cash"‚ the author says‚ "Security experts worry‚ for example‚ that hackers could
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Substantive Procedures - Asset Irregularities ACC/556 November 24‚ 2014 Introduction This next phase of the auditing process for Apollo Shoes Inc. (Apollo) is the designing of an audit program‚ which will detail substantive procedures for detecting irregularities in the accounts receivable‚ inventory‚ and fixed assets audit cycles. Fixed Assets Apollo’s irregularities in fixed assets‚ has caused concern for substantive procedures to be designed to audit this cycle. The most common schemes where
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