1. Auditor Liability in Canada A & B Is it reasonable for a potential investor or existing shareholder to rely on audited financial statements that a corporation makes available for public consumption? Should an investor be able to sue a corporation’s auditor if audited financial statements materially misrepresent the financial status of the company audited? a. Should a potential investor only be able to sue the corporation? b. Should there be any limit on the auditor’s liability?
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Guidelines for the Recommendation Report Your team ’s target document is a collaboratively written recommendation report which comments upon the potential for either the construction and maintenance of a Web site (feasibility study) or revisions to an already existing page (usability study). This document should effectively mediate between the client ’s needs and the course ’s goals for this project. Your team ’s work should reflect consideration of both the client ’s desires and resources and
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important to ensure that the auditing profession meets its responsibilities to its clients. While working for a company to audit their financial information‚ they are also at the same time working for the public and regulators who rely on externals auditors to prove credibility to the financial information that companies release (Cooper‚ Coram‚ Richardson‚ & Leung‚ 2009). To assist in quality assurance‚ the profession‚ and government have developed multilevel framework which is designed to regulate
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Q 2.5 ■ The external auditor is the person appointed by the local government under the Local Government Act 1995 to undertake an audit of the accounts and financial report for each financial year. ■ The internal auditor is the person appointed by the local government to undertake an audit of the adequacy and effectiveness of the internal control structure and may include financial controls‚ legislative compliance‚ information systems‚ employment practices and risk management. The primary role
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WHAT THEY DO: Accountants and auditors examine financial statements for accuracy and conformance with laws. Accountants and auditors prepare and examine financial records. They ensure that financial records are accurate and that taxes are paid properly and on time. Accountants and auditors assess financial operations and work to help ensure that organizations run efficiently. Duties Accountants and auditors typically do the following: • Examine financial statements to be sure that they are
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Institute of Accountants has approved this Guideline for publication. These guidelines have been adapted by the Internal Audit Committee of the Malaysian Institute of Accountants from the publication "Guidance for Internal Auditors" issued in June 1990 under the aegis of the Consultative Committee of Accountancy Bodies (CCAB) in the United Kingdom. These guidelines provide advice to internal auditors on the main issues and procedures which they need to consider as part of their work in both the commercial
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conservative growth strategy. The airline focuses on growing internally and expanding within their current routes. It is estimated that in any given year‚ 85% of Southwest’s expansion is internal. The company purchases new planes to add capacity to their system. By next year‚ they will be using 14 to 16 new planes for internal expansion. At times‚ Southwest expanded externally‚ but only when an opportunity was present. The company faces a problem with expansion. Southwest Airlines is asked to join new markets
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[pic] [pic][pic][pic][pic][pic] JOURNAL OF RESEARCH IN NATIONAL DEVELOPMENT VOLUME 8 NO 1‚ JUNE‚ 2010 THE ROLE OF AUDITORS IN FRAUD DETECTION‚ PREVENTION AND REPORTING IN NIGERIA Akinyomi Oladele John Department of Financial Studies‚ Redeemer’s University‚ Mowe E-mail: delejohn21@yahoo.com Abstract This study investigates the role of auditors in the detection‚ prevention and reporting of fraud. Data were obtained from 184 respondents in Nigeria. The findings revealed that the respondents
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INTERNAL AUDIT 1 Internal audit ‘Internal audit’ is an appraisal activity established by management for the review of accounting and internal control systems as a service to the entity. It reviews‚ monitors and make recommendations for the improvement of systems. Other activities include: Examination of financial information Review of economy‚ efficiency and effectiveness (‘value-for-money’ audits) Review of compliance with external laws and regulations Review of internal policies Review
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------------------------------------------------- Examples of good letters of recommendation Guidelines and examples of good letters of recommendation Even if you are an employer and have been asked by an employee to write a recommendation letter don’t jut say "sure"; first ask yourself if you are you the right person to write such a letter. If you are asked‚ you need to discuss the subject candidly with the requester. All examples of good letters of recommendation show that they are most effective when a person who
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