BF3394 – AUDITING AND PROFESSIONAL ETHICS Module Number: Module Title: BF3394 AUDITING & PROFESSIONAL ETHICS 10 credits Number of Aston Credits: Total Number of ECTS Credits: 5 credits (European Credit Transfer) Staff Member Responsible for the Module: Dr Melina Manochin Finance and Accounting Group ABS Building‚ Room 410‚ Extension 3732 m.m.manochin@aston.ac.uk Availability: Please see office hours on door or group administrator‚ Ms Rosaleen Shirley‚ ABS 404‚ Extension 3238 Other Staff
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Summer 2010 Update for Auditing Assurance Services: An Integrated Approach 13th Edition and Alvin A. Arens Randal J. Elder Mark S. Beasley We are committed to providing students and faculty up‐to‐date content for use in the classroom and are pleased to provide this newsletter highlighting recent events affecting the audit and assurance profession. Pearson Prentice Hall SUMMER 2010 UPDATE AUDITING AND ASSURANCE SERVICES: AN INTEGRATED APPROACH‚ 13TH EDITION
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(E-Comm. Sem-VI) STRUCTURE Subject Code Name Marks E 6.1 Auditing 100 E 6.2 Information System Audit 100 E 6.3 Competitive Skills 100 E 6.4 JAVA Programming 100 E 6.5 Practical 100 E 6.6 Project 100 North Maharashtra University‚ Jalgaon (NACC Re-Accredited ‘B’ Grade University) FACULTY OF COMMERCE & MANAGEMENT B.B.M.(E-Comm.) Semester VI E – 6.1 Auditing 80 + 20 Pattern: External Marks 80 + Internal Marks 20 = Maximum Total
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CHAPTER AUDIT PLANNING AND ANALYTICAL PROCEDURES THE FALL OF ENRON: DID ANYONE UNDERSTAND THEIR BUSINESS? 8 LEARNING OBJECTIVES After studying this chapter‚ you should be able to 8-1 Discuss why adequate audit planning is essential. Make client acceptance decisions and perform initial audit planning. Gain an understanding of the client’s business and industry. Assess client business risk. Perform preliminary analytical procedures. State the purposes of analytical procedures and the timing
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ethical principle that has been breached is: a. auditor independence. b. auditor appointment. c. auditor rotation. d. auditor competence. 2. The term audit expectation gap refers primarily to differences in expectations between: a. auditors and users of audited financial reports. b. auditors and their clients. c. CPA Australia/ICAA and the ASIC. d. auditors and the ASIC. 3. The oversight structure of financial reporting
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The following are independent situations and you should refer to APES (Accounting Professional and Ethical Standards 110 “Code of Ethics for Professional Accountants”) and the Corporations Act 2001 as a minimum for each situation. You need to identify any breaches (under what section) and why. You should also consider any remedy or alternative course of action that should have been considered for each where appropriate. There is no word limit set for this assignment but it is expected that each
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and retained. The Professional Practices Framework for Internal Auditing (PPF) was designed by The IIA Board of Directors’ Guidance Task Force to appropriately organize the full range of existing and developing practice guidance for the profession. Based on the definition of internal auditing‚ the PPF comprises Ethics and Standards‚ Practice Advisories‚ and Development and Practice Aids‚ and paves the way to world-class internal auditing. This guidance fits into the Framework under the heading Development
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Control over Financial Reporting. Our responsibility is to express an opinion on the company’s internal control over financial reporting based on our audits. We conducted our audits in accordance with the standards of Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audits to obtain reasonable assurance about whether effective internal control over financial reporting was maintained in all material respects. Our audit of internal control
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independence is so crucial for auditors? b) Explain the difference between independence in fact and independence in appearance. Use examples 2) What is the difference between forensic and statutory audit? Explain the other kinds of audit that you know 3) What are the objectives of an audit? Are errors and fraud within the scope of any audit? Explain clearly 4) What is professional clearance? What is the importance of professional clearance in auditing? 5) An audit fee is an auditor’s remuneration. In
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Week 5 Assignment What is the correct relationship of internal audit to senior management? The correct relationship to exist between internal auditors to senior management is one that meets the risk areas as defined by importance to senior management; this includes assurance and consultative reporting result. The same premise is also true for creating a correct relationship with operational management and the audit committee; under these cases‚ operational management desires consultative results
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