Part 1 The purpose of Part 1 is to perform preliminary analytical procedures. You have been asked to focus your attention on two purposes of analytical procedures: Assess going concern and Indicate where there is an increased likelihood of misstatements Required for Part 1 Calculate at least ten ratios that are useful to assess going concern using Heritage’s financial statements‚ which are located on Blackboard‚ appendix 1 & 2. Document the ratios in a format similar to the following: Ratios
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01/01/2012 Raj‚ The following memo addresses the risk assessment of one our clients‚ Gold Explorer Inc.; a major public Canadian gold mining company. The firm has been auditing this company for the past 8 years‚ in which very few misstatements were discovered and where management integrity was never a concern. However‚ in this fiscal year‚ the audit of Gold Explorer Inc will be more challenging because of increases in inherent risk and lower levels of acceptable audit risk‚ resulting
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The Companies Ordinance‚ 1984 THE COMPANIES ORDINANCE‚ 1984 (XLVII OF 1984) ********* CONTENTS ………… PART I - PRELIMINARY Sections Pages Preamble 1 1. Short title‚ extent and commencement 1 2. Definitions 2 3. Meaning of "subsidiary" and "holding company" 9 4. Ordinance not to apply to certain corporations 9 5. Application of Ordinance to non-trading companies with purely provincial 10 objects 6. Ordinance to override memorandum‚ articles‚ etc. 10 PART II-JURISDICTION OF
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Flat Cargo Berhad Presented by: Presented to: ABDUL RAHMAN BIN YAACOB AC088467 AFIFAH BINTI HALIM AC088398 MAZIAH BINTI MOKHTAR AC088445 MOHAMMAD AZWAN BIN BASHIRUN AC088323 MOHD ZUBAIR BIN NOR AZMAN AC086470 NABILAH BINTI SAAD AC088349 SIR AZWAN ABD RASHID INTEGRATED CASE STUDY ACSB 413 INTRODUCTION Company Background 1997 Started operations with 2 aircraft - Boeing 737-200F - Cessna Grand Caravan Operating Primarily -Air cargo carrier Principal activities of FCB Subsidiaries
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documentation need to establish the fund‚ each fund will typically have an offering document or prospectus‚ documentation between the fund and its service providers and subscription agreement. The constitutional documentation of the fund will depend upon the vehicle used. Typically‚ the documentation tends to be generic and drafted to defer and be subject to the terms of the offering document or prospectus. If more tailored drafting is preferred‚ that can of course be accommodated. Whether a fund
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FORENSIC ACCOUNTING Abstract In today’s fast growing business world‚ it is necessary for an organization to evaluate its systems‚ internal control procedures and to analyze the risks involved to ascertain appropriate implementation and working of its processes. The organization must also identify‚ record‚ settle‚ extract‚ sort‚ report and verify past financial data. With increasing number of frauds within organizations‚ the regulatory framework has also been enhanced with introduction of
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The Auditor’s Responsibility to Consider Fraud and Error in an Audit of Financial Statements. The Accounting and Auditing Organization for Islamic Financial Institutions established on Safar 1‚ 1410 Hijri (February 26‚ 1990) at Algiers and registered in Bahrain on Ramadan 11‚ 1411 Hijri (March 27‚ 1991) has so far (April‚ 2004) set the following Financial Accounting Standards‚ Auditing Standards‚ Governance Standards & Code of Ethics for Accountants & Auditors of Islamic Financial Institutions:
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some cases‚ revise the amount used for materiality when evaluating audit misstatements. Consider if additional procedures are required to support the changed materiality. 8. Reconsider the assessments of internal control at the entity level and the risk of fraud. Their conclusions about the effectiveness of internal control could be affected by control exceptions found during testing. Consider whether any material misstatements indicate fraud. 9. Revisit planning documentation to determine that
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Q1 Executive Summary (a).Organisational structure Qantas Airways Limited ’s core business is passenger transport‚ air freight services‚ sale of holiday tours and associated support activities including catering‚ information technology‚ group handing and engineering and maintenance (Qantas n.d.). As a consequence of the revised structure that commenced in December 2013‚ the Qantas Groups split its international and domestic operations into two separate corporate entities (Qantas 2014a). This has
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as their forecasts for revenues * The firm’s failure to test the system-generated data and reports that support vital controls * The firm’s failure to identify and thoroughly test controls that are intended to address risks of material misstatements. By not properly identifying deficiencies in internal controls‚ the auditor’s would base substantive procedures on a level of reliance of internal control that was excessive. Therefore‚ internal control deficiencies often contributed to the deficiencies
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