required to file Cost Audit Report and Compliance Report in XBRL format and what is the authority for the same? Ministry of Corporate Affairs has mandated filing of the Cost Audit Report and Compliance Report from the financial year 2011-12 onwards (including overdue reports relating to any previous year) by all cost auditors and companies concerned by using the XBRL taxonomy. MCA vide Circular No. 18/2012 dated July 26‚ 2012‚ has extended the last date of filing of cost audit reports and compliance
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INTRODUCTION Internal auditing is a management-oriented discipline that has evolved rapidly since World War II. Once a function primarily concerned with financial and accounting matters‚ internal auditing now addresses the entire range of operating activities and performs a correspondingly wide variety of assurance and consulting services. By definition‚ according to Institute of Internal Auditors (IIA)‚ internal auditing is an independent‚ objective assurance and consulting activity designed to
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Strategic Audit Staples‚ Inc. Hudson Chodos Andrew Nelson David Pearson Management 3800: Public Policy Professor Bowen 11/3/11 I. Current Situation Looking at Staples current performance in the past year‚ we will look at three things: return on investments‚ market share‚ and profitability. * Return on Investments: 9.95% * Market Share: 90% of market cap when comparing Staples‚ Office Depot (5.72%)‚ Office Max (3.89%) * Profitability - $24.5 Billion in sales; $6.7 Billion
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this report is to develop an audit plan using the 2007/2008 annual reports of the WesFarmers. This report will provide an understanding of the underlying concepts of an overall audit strategy. This strategy will bring forward the direction and scope of the WesfFarmers audit plan. This report will address five major points these are as follows: • Understanding the entity and its environment • Making preliminary judgements about materiality levels • Considering the audit risk • Understanding internal
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profile failures of financial services firms‚ the issues about ‘audit expectation gap’ have never been more important. Though it would take an enormous amount of effort to address these issues‚ I will argue that tremendous amounts could be done in order to close the gap down. In this essay I will discuss some of these issues and in particular the strategies to reduce the gap. Definitions Various definitions have been proposed for the audit expectation gap. Humphrey‚ Moizer and Turley (1992)‚ suggest
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particular question‚ no credit will be given for that question. 1. Which of the following is not a Sarbanes-Oxley requirement for audit committees? A. The audit committee should view itself as the “client” of the external auditor. B. The audit committee must be chaired by the chair of the board of directors. C. Audit committee members must be financially literate. D. Audit committee members must be outside directors. 2. There are several reasons why users of information desire assurance services
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Ana Decastro Western Civilization I Professor Sarah M. Lane The crusades were religious wars promoted by the Catholic Church to regain entrance in holy places in Jerusalem in the thirteenth century. Both‚ Muslims and Jews had similar opinions about the crusades differing from the Christians who approved of them. Pope Urban‚ organizer of the papal monarchy and the Roman Curia‚ was a faithful believer of the crusades. At his speech in Clermont in 1095‚ he warned Europeans to accept the crusades
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ROLE OF BANKS First‚ they take a leading role in developing other financial intermediaries and markets. Second‚ due to the absence of well-developed equity and bond markets‚ the corporate sector depends heavily on banks to meet its financing needs. Finally‚ in emerging markets such as India‚ banks cater to the needs of a vast number of savers from the household sector‚ who prefer assured income and liquidity and safety of funds‚ because of their inadequate capacity to manage financial risks Definition
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The purpose of the Supply Chain Operations Audit is to help you find the answer to this crucial question. The Audit is divided into five main sections: Strategy‚ Organisation‚ Process‚ Information and Performance. The Supply Chain Audit Part 1 – Strategy Objective: To determine if the enterprise has a clear strategy tuned to business expectations and focused on profitably servicing customer requirements. Scope: How the enterprise’s supply chain strategy reflects its business goals and external
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Ernst Hans Gombrich was an Austrian art historian as well as a writer. E.H. Gombrich lived in the 20th Century. Gombrich graduated from the University of Vienna. After that he worked at the Warburg University of London as a Research Assistant in 1936. During the Second World War the BBC employed him as a Radio Monitor. In 1956-1959 Gombrich was a professor of the History of Art at the University. Throughout his life Gombrich had many jobs‚ such as historian professor‚ director and a writer. Gombrich
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