NATURE of AUDITING‚ ATTESTATION AND ASSURANCE SERVICES Let us understand a few terminologies before going further in the discussion of the details of auditing and assurance since these terms will be used often throughout the text. Auditing‚ attestation and assurance services are often used interchangeably because they encompass the same decision-process: defining the decision problem‚ defining the alternative choices‚ identifying and obtaining information relevant to the decision problem‚ evaluating
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as part of their work in both the commercial and public sectors. They should also be of benefit to organisations considering establishing an internal audit function. Internal auditors should read these guidelines in conjunction with the Approved Auditing Standards contained in the Members’ Handbook and the Institute’s By-Laws (On Professional Ethics‚ Conduct and Practice) [Issued January 2007] and any requirements regarding internal audit set out in the relevant statutes or regulations. These guidelines
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RELIANCE INDUSTRIES Reliance Industries Limited (RIL) is an Indian conglomerate holding company headquartered in Mumbai‚ Maharashtra‚ India. Backward vertical integration has been the cornerstone of the evolution and growth of Reliance. Starting with textiles in the late seventies‚ Reliance pursued a strategy of backward vertical integration - in polyester‚ fibre intermediates‚ plastics‚ petrochemicals‚ petroleum refining and oil and gas exploration and production - to be fully integrated along
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“Self Reliance” on Role Models Ralph Wald Emerson‚ a transcendentalist‚ wrote “Self Reliance” with thoughts that would end up starting arguments between people. In 1841‚ when Emerson wrote “Self Reliance‚” people were not ready for such a strong viewpoint by Emerson that argues that Conformity kills an individual. By doing this Emerson started something to what today is known as American individualism. In “Self Reliance‚” Emerson has many specific points‚ but one of them deals with role models
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A PROJECT ON INSURANCE INDUSTRY IN INDIA FOCUSING ON RELIANCE LIFE INSURANCE PREFACE The liberalization of the Indian insurance sector has been the subject of much heated debate for some years. The policy makers where in the catch 22 situation wherein for one they wanted competition‚ development and growth of this insurance sector which is extremely essential for channeling the investments in to the infrastructure
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ACKNOWLEDGEMENT Nothing concrete can be achieved without an optimal combination of inspiration and perspiration. No work can be accomplished without taking the guidance of the experts. It is only the views and advice from ingenious intellectual that help in the transformation of a product into a quality product. We owe my sincere gratitude to Mr. Amit Yadav‚ our honorable project guide. Last but not the least‚ no acknowledgement will be complete without mentioning our parents. They have also
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The future of auditing Called to account The auditing industry has yet to recover from the damage inflicted by an era of corporate scandals Nov 18th 2004 |From the print edition * * NO ONE becomes an auditor because the job is adventurous. In recent years‚ however‚ the profession has been really rather racy. Auditors have been implicated in fraud after fraud. The Enron scandal brought down Arthur Andersen‚ which had been one of the profession ’s five giant firms. Now a scandal at
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Unit 5 GEL Assignment – The Scientific Method Refer to Chapter 11 of the textbook‚ Objective Question 11-38. Assume that fraud has been discovered in the “Possible Errors and Fraud” list‚ shown as A through O in the problem. Select two of the fraud items from the list and note them here: Fraud Item #1 Invoices for goods sold are posted to incorrect customer accounts. Fraud Item #2 Invoices are sent for shipped goods and are recorded in the sales journal‚ but are not posted to any customer
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Auditing Theory 1. A control which relates to all parts of the EDP system is called a(n) a. Systems control c. Applications control b. General control d. Universal control 2. Which of the following is not an output control? a. Proper authorization of transaction b. Control totals c. Check digits d. Adequate documents 3. Should the auditor feel‚ after obtaining an understanding of the EDP internal control structure‚ that control risk cannot be reduced‚ he or she will a. Issue a disclaimer b. Issue
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A very short (250 word) opening reflection in which you will identify a problem of urgent importance to Canadian society today and how it might be solved through political or economic change. The common saying‚ “a chain is only as strong as its weakest link‚” can be translated into an analogy to describe modern society. The weakest link‚ in Canada and most other nations are the poor and socially vulnerable. While poverty is often a forgotten issue‚ with the growing unemployment rates‚ increased
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