"Challenges Of Tax Audit In Ethiopia" Essays and Research Papers

  • Challenges Of Tax Audit In Ethiopia

    Tax Investigation must be clearly separate from Tax Audit. Tax Investigation is an inspection of the tax payers business or individual books, records or document in order to ensure the tax payer had reported the correct amount of income and tax that need to pay in accordance with tax laws and provisions. Tax investigation will be carried on by surprise which also known as back duty case. It was conducted on behalf of owner and outsiders like investors. When there is suspected based on detailed and...

    Corporate tax, Income tax, Tax 1171  Words | 3  Pages

  • Maintaining the Accountability for the Public; Challenges Faced by Malaysian National Audit Department

    Malaysian National Audit Department plays a vital role in the process. The National Audit Department was also the foundation in the growth of the public sector accounting in Malaysia. The motive of the formation of National Audit Department is to support the financial management and public accountability through the audit of accounts and the activities done by the public sector. Therefore, the National Audit Department has been given the responsibility to conduct various types of audit in Malaysia. The...

    Audit, Auditing, Balance sheet 2353  Words | 7  Pages

  • Ethiopia

    Ethiopia food shortages. Ethiopia is located in the Horn of Africa and is bordered by Eritrea, Djibouti, Somalia, Kenya, South Sudan, and Sudan. What is famine? Famine contains three elements: • food shortage • starvation • excess mortality It has a greater effect on the most vulnerable in society. Famine is caused by many factors including: • poor climatic • environmental conditions • population growth • market failure • war. Over half of the Ethiopian...

    Beriberi, Drought, Ethiopia 515  Words | 3  Pages

  • Ethiopia

    Global Health in Ethiopia August 11, 2010 Introduction Ethiopia Ethiopia is a country completely surrounded by land, and positioned in the northeast region of Africa. Formally known as Federal Democratic Republic of Ethiopia, it is the second most populated country in Africa. As of 2009 the population is estimated to be greater than 79.2 million people, and ranked the tenth largest by area with 1,100,000 km per square inch. Sudan, Eritrea, Djibouti, Somalia, and Kenya are located on the outskirts...

    Addis Ababa, Derg, Ethiopia 2000  Words | 6  Pages

  • Ethiopia

    Ethiopia As the anthropologists say, all people come from Ethiopians. “Lucy’s” skeleton discovered in 1974 is considered the oldest human “trace”. It is believed that she lived more than 3 million years ago. At 435,071 square miles (1,126,829 km2), Ethiopia is the world's 27th-largest country. The major portion of Ethiopia lies on the Horn of Africa, which is the eastern most part of the African landmass. Bordering Ethiopia are Sudan and South Sudan to the west, Djibouti and Eritrea to the...

    Blue Nile, Ethiopia, Ethnic group 1134  Words | 4  Pages

  • Audit

    Q1 - What is the relationship between the risk assessment process and the collection of audit evidence? The risk assessment process happens at the very beginning of the engagement and is to determine the level of risk present in the company. The risk assessment phase is when the auditor assess the client’s situation, conducts an independence threat analysis and decides whether to accept the client or not. The risk assessment is influenced by various factors such as the degree to which external...

    Audit, Auditing, Auditor's report 970  Words | 3  Pages

  • Tax Auditor

    the report is an exploration of a career option and a Tax Auditor at Canada Revenue Agency. The purposes of this report are to not only prepare myself for the position by examining and learning but also introduce a different field of work to colleagues All residents in Canada must pay a tax and Canada Revenue Agency (CRA), formally known as Revenue Canada, is a federal agency that has as its main function the administration of Canadian tax laws for most of the provinces and territories of Canada...

    Audit, Auditing, Canada Revenue Agency 1332  Words | 5  Pages

  • Audit

    * Subject Synopsis This course introduces the elements of auditing. It discusses the principles and procedures of auditing, types of audits, scope and objectives of auditing. It also covers professional ethics in auditing, audit evidences, audit planning and various other aspects of auditing. Moreover it gives knowledge about objectives of doing audit. The course also aims to explain the liability and responsibility of the auditor and how the computerised environment effects the business environment...

    Academia, Audit, Auditing 1492  Words | 6  Pages

  • Tax Administration and Tax Planning

    A taxpayer's average tax rate is determined by dividing the total tax paid by the total income of the taxpayer. A) True B) False Beginning in 2011, all paid tax return preparers must sign up with the IRS, pay a fee, and obtain a preparer tax identification number. A) True B) False 22. Taxpayers who are unable to pay their taxes may enter into a payment plan with the IRS if the amount they owe is within certain limits. A) True B) False 23. At which of the following IRS...

    Income tax, Progressive tax, Proportional tax 907  Words | 5  Pages

  • Tax Audit

    Conduct Tax Audit – Part 1 Analysis of Certain Clauses Audit under Section 44AB of the Income Tax Act By Raman Jokhakar, Chartered Accountant Objective To understand the purposes of this Form To learn nuances of the clauses To understand audit risk To effectively carry out attestation To document adequately To disclose standard notes, limitations and stands To know inter links between clauses To be aware of important stands taken by Courts To understand the objective of the tax department ...

    Audit, Auditing, Excise 6291  Words | 55  Pages

  • Audit

    which exceeds materiality of $50,000. c. The auditor should either propose an audit adjustment so that the unadjusted statement amount is less than materiality, and/or perform more testing to obtain a better estimate of the population misstatements. The additional testing will likely focus on receivables and inventory because they have the largest estimated misstatements. 9-28 a. The following terms are audit planning decisions requiring professional judgment: Preliminary judgment about materiality ...

    Audit, Auditing, Auditor's report 762  Words | 3  Pages

  • Tax Office Operation Transformation

    source of revenue for Government spending. This in turn requires well-designed tax policies (new taxes and tax reform) that are translated into clear legislation and are administratively feasible. Perhaps the greatest challenge facing these countries is to improve the effectiveness of their tax administrations.[1] Common Challenges Tax Administrations in developing country contend with the same range of challenges with developed nations, although the significance of typical collection issues...

    Developing country, Government spending, Progressive tax 848  Words | 3  Pages

  • audit

    Fundamental concepts of f/s audit Materiality misstatement of accounting information. is a matter of professional judgment Audit risk The auditor expresses an inappropriate audit opinion when the financial statements are materially misstated, Evidence (more than “per discussion with client) Major phrases of audit: Client acceptance/continuance; Preliminary engagement activities; Establish materiality and assess risks; Plan the audit ;Consider and audit internal control; Audit business processes and...

    Audit, Auditing, Auditor's report 670  Words | 1  Pages

  • the performance of Tax Audit in ERCA, LTO branch

     Institute of Tax and Customs Administration Department of Tax Administration (MA. Program) Individual Thesis Paper on Tax Audit and Risk Management A thesis submitted to the Department of Tax Administration in Partial fulfillment of requirements for the Master of Arts By - Awoke Damtie (January 2014) Jannuary, 2014 Addis Ababa Ethiopia Table of contents Title ...

    Audit, Progressive tax, Tax 10145  Words | 29  Pages

  • The Audit

    assertions and audit objectives - Define management assertions and the related audit objectives - Describe management assertions related to class of transactions, balances and presentation and disclosures - List out and describe general transaction related audit objectives, balance related audit objectives and presentation and disclosure audit objectives - Understand specific audit objectives and how they are linked to general audit objectives and management assertions Topic 4 – Audit evidence...

    Audit, Auditing, Auditor's report 1165  Words | 5  Pages

  • Audit

    1 Chapter 7: Audit Evidence I. Definition: Evidence – information used by the auditor to draw conclusions on the fair presentation of the financial statements. Audit objectives suggest the types of evidence to accumulate. II. Decisions on evidence accumulation A. Which audit procedures to use. General Objectives: Six TRAOs Eight BRAOs Four PDAOs Accounting Cycles: Five Management Assertions Specific Objectives: At least: Six TRAOs Eight BRAOs Four PDAOs Audit Procedures: At least one...

    Accounts payable, Accounts receivable, Audit 702  Words | 4  Pages

  • Audit

    Standards Introduction Self-regulated: the standards governing audits were established by members of the profession themselves Sarbanes-Oxley Acct of 2002 Created: Public Company Accounting Oversight Board (PCAOB) to provide external and independent oversight over the audits of public entities Responsible for registering public accounting firms, establishing standards for audit engagements, and inspecting the quality of audits conducted by public accounting firms ****Generally Accepted Auditing...

    Audit, Auditing, Auditor's report 590  Words | 3  Pages

  • Audit

    expectations for revenue accounts Recognize factors that lead to precise expectations of account balances Appreciate the degree of professional judgment involved in evaluating differences between expected and reported account balances Understand the audit planning implications of using analytical procedures as substantive tests of account balances Burlington Bees, an independent, minor league baseball team, competes in the North-west Coast League. The team finished in second place in 200X with...

    Audit, Auditing, Baseball 756  Words | 4  Pages

  • Audit

    SEMESTER 1, 2013 SEMINAR 9 - PROBLEM QUESTIONS PROBLEM 9.1 While assessing the risk of material misstatement and determining the appropriate response with regard to the inventory of Ace Computers Ltd (Ace) for the year ended 30 June 2011 audit, you become aware of the following information: 1. The best-selling computer presentation package has been experiencing a high level of returns owing to suspected software problems. 2. Based on closing inventory, inventory turned over...

    Auditing, Employment, Financial audit 455  Words | 3  Pages

  • Audit

    theft. D. Expected effectiveness of controls. 13. The risk that an auditor’s procedures will lead to the conclusion that a material misstatement does not exist in an account balance when, in fact, such misstatement does exist is referred to as A. Audit risk B. Inherent risk C. Control risk D. Detection risk 14. Evidential matter concerning proper segregation of duties ordinarily is best obtained by A. Preparation of a flowchart of duties performed by available personnel. B. Inquiring whether...

    Audit, Auditing, Balance sheet 990  Words | 3  Pages

  • Audit

    Name: Maharshi Pandya Student ID: PCC2388 Audit Assignment 1 Answer 1. In our case study, King and Queen are the auditors and the plaintiff that is taking legal action against them is EFL. Negligence can be defined as any conduct that is ‘careless or unintentional in nature and entails a breach of any contractual duty or duty of care in tort owed to another person or persons’.(Godsell, 1993 P23) If EFL wants to claim for negligence than they will have to prove that the four elements exists...

    Audit, Auditing, Auditor's report 1067  Words | 4  Pages

  • introduction to tax

    II. Criteria for Evaluating a Tax Structure Adam Smith -canons of taxation Equality Convenience Certainty Economy III. Tax Structure Tax base: Tax rates: Incidence of tax: Examples: Income $10 $20 $30 $3 (30%) $6 (30%) $9 (30%) $3 (30%) $7 (35%) $12 (40%) IV. Major Types of Taxes Property Taxes Transaction Taxes Death Taxes Gift Taxes Income Taxes Employment Taxes Other U.S. Taxes V. Formula for Federal Income Tax on Individuals Figure...

    Income tax, Income tax in the United States, Internal Revenue Service 323  Words | 5  Pages

  • Audit

    5.30 (Medium) Sufficient appropriate audit evidence has not been obtained to support the conclusions. | | Procedures | General point | Quality (appropriate evidence) | Quantity (sufficient) | (a) | Observation of stock take - went according to instructionsInventory test counts and cut-off prove satisfactory. | To conclude that the ACCOUNT balance is fairly stated (i.e. in $$ terms), all material assertions must be verified. | Existence assertion (an overstatement test) has been tested from the...

    Auditing, Depreciation, Expense 1374  Words | 5  Pages

  • Tax Policy in Nigeria

    INTRODUCTION A tax policies represent key resource allocator between the public and private sectors in a country. It is usually imposed on individuals and entity that make up a country. The funds provided by tax are used by the states to support certain state obligations such as education systems, health care systems, pensions for the elderly, unemployment benefits, and public transportation. A nation’s tax system is often a reflection of its communal values or the values of those in power. To...

    Corporate tax, Income tax, PAYE 2265  Words | 7  Pages

  • Audit

    Tutorial 2: Audit of Sales and Collection Cycle ------------------------------------------------- QUESTION 1 Part A (a) Define a ‘test of control’ and a ‘substantive procedure’. [2 marks] (b) State ONE test of control and ONE substantive procedure in relation to sales invoicing. [2 marks] Part B Cleanwell Sdn Bhd (CSB) is a window cleaning company. Customers’ windows are cleaned monthly, the window cleaner then posts a stamped addressed envelope for payment through the customer’s...

    Accounts payable, Accounts receivable, Balance sheet 785  Words | 3  Pages

  • Challenges

    BIGGEST CHALLENGES AND BIGGEST OPPURTUNITIES INTRODUCTION In this we are going to discuss the biggest challenges and opportunities faced by the managers while entering the industry in the current economic climate. what is the type of source? It is an online publication and it is mainly for the things faced by the managers entering the industry.in this we will discuss about the skills and the acceptance of the managers while entering the industry. In the current economic climate...

    Climate, Management, ManaGeR 947  Words | 4  Pages

  • To Tax or Not to Tax

    To Tax or Not to Tax: The Problem of America Money, like a cookie, is something everybody wants, and when it is gone a person blames everybody else for its absence; realizing later they were the one to consume it in the first place. Taxes, since the beginning of an organized economy, have been argued over for centuries. At the end of 2012 after surviving the “end of the world,” tax payers were faced with another apocalyptic situation, the Fiscal Cliff. It had the potential to raise taxes to outrageous...

    Deficit, Government debt, Money 1189  Words | 4  Pages

  • To Tax Or Not To Tax

    William Pittman 10/14/14 Writing COMP – Han To Tax or not To Tax Two authors by the names of Paul Krugman and Fred E. Foldvary have varying opinions on the topic of taxing the rich. The debate they’re writing about is whether or not the US should increase the tax burden on the rich. Foldvary states in his “The Evil of Taxing the Rich” article that there are a lot of negative affects that would come along with taxing the rich. Mainly, he says the rich are paying a much larger percentage of federal...

    Tax, Taxation, Working class 1294  Words | 5  Pages

  • AUDIT MGMT

    MIS - MIB DMS - DBM - PGDM - BBM – DBA – PGDM www.mbacasestudyanswers.com www.casestudysolution.in aravind.banakar@gmail.com ARAVIND 09901366442 – 09902787224 AUDITING Q1) H.W.P. Private Ltd. Is having only two members H and W. During the audit of accounts for the year ended 31st March 2000, you as a auditor find that : a) H, who is incharge of purchases has introduced fictitious purchase bills of Rs 50 lakhs. b) W, who is incharge of sales has sold goods worth Rs 1 crore without bringing...

    Audit, Auditing, Auditor's report 799  Words | 3  Pages

  • TYPES OF AUDITS

    TYPES OF AUDITS Operational PURPOSE: To evaluate whether operating procedures are efficient and effective USERS: Management of the organization NATURE: Highly non-standard; often subjective FREQUENCY: PAs: Frequently AGs: Frequently CRA: Never Internal: Frequently Compliance PURPOSE: To determine whether the client is following specific procedures set by higher authority USERS: Authority setting down procedures, internal or external NATURE: Highly non-standard; often subjective FREQUENCY: PAs:...

    Audit, Auditing, External auditor 508  Words | 3  Pages

  • Audit 1

    Company for the year ended December 31, 2014. We will audit the company’s balance sheet for December 31, 2014, and the related statements of income, retained earnings, and cash flows for the year then ended. The purpose of our audit is to form an opinion as to whether these statements are fairly presented in accordance with accounting principles generally accepted in the United States of America. We will review the company’s federal and state income tax returns for the fiscal year ended December 31, 2014...

    Audit, Auditing, Auditor's report 1365  Words | 4  Pages

  • Audit Process

    Audit Process Typically an audit flows through a series of logical steps culminating in the ‘Audit Report’. Background Research Preparation of the Audit Plan Accounting Systems review Internal Control System review Substantive Testing Analytical review techniques Analytical review of financial statements Preparation and signing of the Audit Report Background Research 1. Present condition and future prospects for the industry 2. History, present and future prospects...

    Audit, Auditing, Balance sheet 448  Words | 4  Pages

  • Improvement of Corporate Tax Audit: Factor of Increasing Tax Compliance in Malaysia

    | Improvement of Corporate Tax Audit: Factor of Increasing Tax Compliance in Malaysia | | Table of Contents Executive Summary 3 Introduction………………………………………………………………………………………..4 Tax Compliance, Tax Evasion and Tax Audit…………………………………………………….4 Tax Audit in Malaysia…………………………………………………………………………….6 Organization Structure…………………………………………………………………………….8 Tax Audit Process…………………………………………………………………………………9 Tax Audit: Constraints and Problems……………………………………………………………11 Recommendations………………………………………………………………………………...

    Audit, Progressive tax, Tax 5470  Words | 16  Pages

  • Critique Paper on Completing the Audit and Post-Audit Reponsibilities

    2013 Antonio, Mark Earl Angelo P. ACT162 – B74 3/3/2013 2013 Antonio, Mark Earl Angelo P. ACT162 – B74 3/3/2013 Critique Paper #03: Completing the Audit and Post-Audit Responsibilities Critique Paper #03: Completing the Audit and Post-Audit Responsibilities Summary The first article of Moez Bennouri, entitled “Does Auditors’ Reputation ‘Discourage’ Related Party Transactions? The French Case” studies the relationship between the frequency of RPTs and the external auditors’ reputation...

    Audit, Auditing, Auditor's report 2291  Words | 7  Pages

  • The Collapse of Hih – Solvency and Audit Risk

    The Collapse of HIH – Solvency and Audit Risk Following the collapse of HIH, considerable debate, comment and speculation have arisen regarding whether and at what point HIH became insolvent. When a company is close to insolvency, the risk associated with auditing that company is considerably higher than for one that is solvent. This report investigates methods of determining insolvency, the roles of directors and auditors, and the level of audit risk associated with HIH prior to its collapse. ...

    Audit, Auditing, Auditor's report 1438  Words | 4  Pages

  • Oracle Audit

    ORACLE DATA SHEET ORACLE AUDIT VAULT KEY BENEFITS AND FEATURES • Consolidate and secure audit R Satisfying compliance regulations and mitigating security risks are two of the top security challenges businesses face today. Oracle Audit Vault reduces the cost and complexity of compliance and helps detect suspicious activity by automating the collection and consolidation of audit data. Out of the box compliance and entitlement reports provide cost effective monitoring of enterprise databases...

    Adaptive Server Enterprise, Data management, Database management system 897  Words | 4  Pages

  • The Role of Multiparty System in Ethiopia

    System in Ethiopia SUBMITTED BY - GROUP (I) MEMBERS: Alembante Lealem Liya Lugaine Maithri Obsa Matewos Temesgen Getaneh Selam Araya Tsega Yohannes SUBMITTED TO ― MICHEAL SISAYE November, 2013 Addis Ababa Table of Contents Introduction This paper basically attempts to identify and critically examine the role of a multi-party system in Ethiopia. Besides laying emphasis on the role of multi-party system in Ethiopia, it discusses...

    Coalition, Elections, Forms of government 2077  Words | 7  Pages

  • HR Audit

    What is an HR audit? :  What is an HR audit? An HR audit is a process to review implementation of your institutions policies and procedures, ensure compliance with employment law, implement best practices and educate your managers. HR Audit refers to an examination and evaluation of policies , procedures and practices to determine the effectiveness of personnel management. HR AUDIT COVERS :  HR AUDIT COVERS MEASUREMENT & EVALUATION OF PERSONNEL PROGRAMMES , POLICIES, & PRACTICES. ...

    Employment, Equal Employment Opportunity Commission, Fair Employment Practices Commission 1413  Words | 6  Pages

  • audit homework

    Safeguards Objective Assessment a) The lending of staff by the firm to an audit client may create a self-review threat. (APES110.290.142) Referring to APES110,290 142, it states that if the firm lend the staff to audit client, and it will create the self-review threat. The possible safeguards are as following: Pay more attention on the work done by the loaned staff while in audit engagement. Do not assign any audit responsibility to the task that is performed by that loaned staff. Remove...

    Audit, Auditing, Family 1060  Words | 4  Pages

  • Present Day Bangladesh Audit Objective

    Present Day Bangladesh Audit Objective Today the business world has expanded its empire and captured the whole world. Without the growth of business the economy will cease to exist. This growth is only possible in a protected environment where the business can grow without the fear and anxiety of corruption and dishonesty. This required atmosphere can only be provided by proper audit. The auditor in charge of this auditing determines how far the business world can grow. A dishonest and corrupted...

    Audit, Auditing, Auditor's report 2058  Words | 7  Pages

  • Completing the Audit

    Completing the Audit Concepts: Nature of a balance sheet approach to the audit & implications for auditing the income statement * Obtain sufficient, competent, evidential matter for all balance sheet accounts * Note that if all balances are fairly stated, and the balance sheet balances, then Retained Earnings must be correct * If Retained Earnings is correct, then the Income Statement’s net income cannot be materially in error * Therefore, less work is done auditing the income...

    Audit, Auditing, Balance sheet 576  Words | 3  Pages

  • Audit Syariah

    Edmund 62288211087 Audit 1 Audit Syariah Definition Audit is a process to investigate and verify an account, while Syariah is the rule of Islam (Hukum Islam). Therefore, Audit Syariah is the process to analyse, check, investigate and to make sure the operation and the management of Islamic Financial Institution (IFI) is accordance to the principal and the Syariah’s guidelines, mainly for the production of a product. Syarikah al-Rajhi al-Masrafiyyah LiL Istismar has define the Audit Syariah as “parties...

    Audit, Finance, Fiqh 820  Words | 3  Pages

  • Audit Approach

    The approach adopted by an audit firm to a specified audit assignment will be a key factor in determining the outcome of the audit. If auditors fail to adopt the correct audit approach then the likelihood of audit failure increases, failure which could lead to a damaged reputation and potentially costly litigation against the firm. This article is the first of a series on risk‑based auditing and audit evidence. AUDIT APPROACHES Essentially there are four different audit approaches: the substantive...

    Audit, Audit risk, Auditing 1490  Words | 5  Pages

  • Per: Internal Audit and Challenge Questions

    answering challenge questions answering challenge questions [SECTION TITLE] 1 2 CONTENTS Practical experience requirements (PER) 4 challenge questions 5 sample answers 01 Demonstrate the application of professional ethics, values and judgement 6 03 Raise awareness of non-financial risk 7 04 Manage self 8 05 Communicate effectively 10 08 Improve departmental performance 12 10 Prepare financial statements for external purposes 13 13 Contribute to budget...

    Internal audit 5204  Words | 20  Pages

  • What Is Tax

    What is Tax The tax revenue is the most important source of public revenue. A tax is a compulsory payment levied by the government on individual or companies to meet the expenditure which is required for the public welfare. According to Hugh Dalton, “a tax is a compulsory contribution imposed by a public authority, irrespective of the exact amount of service rendered to the taxpayer in return, and not imposed as penalty for any legal offence” A good tax system is one which is designed on the...

    Corporate tax, Income tax, Indirect tax 1583  Words | 4  Pages

  • Tax Administration

    A RESEARCH PROPOSAL ASSESSING THE EFFECTIVENESS AND EFFECIENCY OF TAX ADMINISTRATION IN KUMASI BACKGROUND OF THE STUDY Tax administration attaches great importance to all forms of taxes, in the sense that they aim at reducing tax evasion to its minimum level. Ghana has relatively a long tax history on tax administration. According to the Report of the Tax Review Commission (Parts 1, 2 & 3)," Accra, (1977) the first custom law was first passed under colonial rule in 1855 and later replaced...

    Income tax, Indirect tax, Internal Revenue Service 2381  Words | 7  Pages

  • Marketing Audit Approach

    primary care physicians. A marketing audit of Schering Plough will be conducted to analyze the marketing strategy of the company. The marketing audit will provide information on the external environment, internal structure of the company, assess the company's marketing program, performance, how the company's business objectives translated into successful marketing plans and provide recommendations for future consideration. The following parts of the marketing audit will be discussed. Executive Summary ...

    Four Ps, Marketing, Marketing mix 740  Words | 3  Pages

  • Audit Independence

    independent in light of investments by auditors or their family members in audit clients, employment relationships between auditors or their family members and audit clients, and the scope of services provided by audit firms to their audit clients. The amendments also identify certain non-audit services that, if provided by an auditor to public company audit clients, impair the auditor's independence. Finally, the new rules identify non-audit services that might impair an auditor’s independence. For all annual...

    Audit, Auditing, Auditor's report 1018  Words | 4  Pages

  • Tax Evasion and Ethics

     Who did it?  eBay avoided £ 50m in tax  Starbucks paid less than 1% tax on its profit  IKEA halved its tax bill  Former Italian Prime Minister Bersculoni  List goes on….  How do they do it?  Special Purpose Entities (SPEs)  Sister Company  Round Tripping  Tax havens  Influencing audit committees Who is affected?  Government  Less of taxes  Profits siphoned off to other countries  Fiscal deficit  General public  Less spending from govt., less...

    Business ethics, Deficit, Government 291  Words | 3  Pages

  • Tips for Carrying Out an Audit

    for carrying out an Audit. Before an audit is assigned to staff, there are few matters that should be considered such as: - The size of the company to be audited. (If it is a private limited co .i.e. Sdn.Bhd. 2 or 3 staff will be required. If it is a Public Listed Company 3 or 4 staff and if it's a Group audit 6 or 7 staff depending on the number of subsidiaries.) - The budget is very important as we are always advised to stay within the budget so that the audit fees is sufficient to...

    Accounts receivable, Audit, Auditing 1315  Words | 5  Pages

  • History Assignment - Tewordros (Ethiopia)

    'A prophet of change who could not achieve his vision' to what extent do you agree with this statement of Tewodras II of Ethiopia Theodore II (Tewodros) had great visions and aims for Ethiopia but the ways in which he tried to achieve these aims and restore unification within Ethiopia was somewhat a failure and caused him to be unsuccessful in the eyes of some historians, hence the statement ‘A prophet of change who could not achieve his vision’. Theodore was born in 1818 by the name of ‘Kasa’...

    Amharic, Army, Ethiopia 1346  Words | 3  Pages

  • Innovation Audit

    o i solutions limited Innovation Audit See the gaps in your innovation and develop plans for new products, services, processes and cost savings. Below is a summary of the Audit we recommend and can conduct. The full Audit varies dependent upon the organisation. Key Issues There are hard and soft factors that will determine how innovative an organisation is. Those key factors: • CEO and Board Commitment • A Learning Organisation ie being open, adaptive and forward thinking • A culture that encourages...

    Diffusion of innovations, Innovation, Management 1042  Words | 4  Pages

  • Audit & Assurance

    statements, which are located on Blackboard, appendix 1 & 2. Document the ratios in a format similar to the following: Ratios 2009 2008 2007 Current assets 44,497 Current ratio: Current liab. 25,926 1.72 Debt to equity Net income before tax/sales Gross margin % Inventory turnover Interest to debt Gearing (10 Marks) Explain the term “materiality” and discuss this in relation to Heritage (5 Marks) Based on your calculations, assess the likelihood (high, Medium...

    Accounts receivable, Auditing, Balance sheet 1033  Words | 4  Pages

  • Tax Evasion

    2. Why is there little tax evasion in Singapore or any other country of your choice? Is it because Singaporeans fear state punishment or because they are satisfied with the performance of the state? Or is there any other explanation? Which explanation(s) do you find most persuasive? Why? Tax evasion, the illegal negligence in taxpaying and misrepresentation of tax returns to reduce one’s tax liabilities, is at a low level in Singapore. With Singapore’s strong tax enforcement, Singaporeans fear...

    Corporate tax, Government, Singapore 2142  Words | 7  Pages

  • Adverse Audit Opinion

    responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with approved standards on auditing in Malaysia. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures...

    Audit, Auditing, Auditor's report 1295  Words | 5  Pages

  • Tax Auditing Practices in Ethiopia:

    DETERMINANTS OF SMALLHOLDER FARMERS ACCESS TO FORMAL CREDIT: THE CASE OF METEMA WOREDA, NORTH GONDAR, ETHIOPIA M.Sc. Thesis SISAY YEHUALA April, 2008 Haramaya University DETERMINANTS OF SMALLHOLDER FARMERS ACCESS TO FORMAL CREDIT: THE CASE OF METEMA WOREDA, NORTH GONDAR, ETHIOPIA A Thesis Submitted to the Faculty of the Agriculture Department of Rural Development and Agricultural Extension School of Graduate Studies HARAMAYA UNIVERSITY In Partial Fulfillment of the Requirements...

    Agriculture, Amhara Region, Bank 36394  Words | 120  Pages

  • Audit Procedures

    CHAPTER 10 – AUDIT PROCEDURES Analytical Procedures – ISA 520 states that analytical procedures must be used at the planning stage to identify risks and at the completion stage of the audit as a final review. They are not just the comparison of one year with another AP’s can be used in ratio, trend analysis and proof in total. In order to use analytical procedures the following processed should be followed, create your own expectation of what you think the figure should be, compare with the actual...

    Asset, Audit, Auditor's report 960  Words | 3  Pages

  • Audit Practice Case Problem

    December 31, 2012. We will audit the company’s balance sheet for December 31, 2012, and the related statements of income, retained earnings, and cash flows for the year then ended. The purpose of our audit is to form an opinion as to whether these statements are fairly presented. We will review the company’s federal and state income tax returns for the fiscal year ended December 31, 2012. In addition, we will be available to consult with you concerning the tax effects of any transactions or changes...

    Audit, Auditor's report, Balance sheet 453  Words | 3  Pages

  • Audit Report Apollo Shoes

    Watershed is pleased to receive your notification to proceed with the audit and look forward to working with you. From the Audit Committee meeting minutes, we understand that Apollo Shoes requires help with the yearly audit because the former CPA firm withdrew unexpectedly (University of Phoenix, n.d.). Anderson, Olds, and Watershed will conduct the audit and “prepare the state franchise tax returns as well as the federal tax returns” (University of Phoenix, n.d., p. 9). Because of Apollo’s previous...

    Audit, Auditing, Balance sheet 1058  Words | 4  Pages

  • Audit Quality

    Meanwhile, they covered liabilities by using derivative financial instruments and complex financial transactions. (Parmalat Case Study, 2009) Audit failure to ‘cash and cash equivalents’ Given the risk of cash manipulation, auditor should have focused more on two main types of assertions in relation to ‘cash and cash equivalents’ before issue an audit opinion. One is about account balances. It requires GT-Italy to focus on both bank confirmation and tests of bank reconciliations (Gay and Simnett...

    Audit, Auditing, Auditor's report 1237  Words | 4  Pages

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