SPU 27 Problem Set 7 Due in TF’s homework box before class on Thursday‚ October 31st You are encouraged to work in groups‚ but all submitted work must be your own. If you work with others‚ please note who they are. Please type or write your answers on a separate sheet of paper. Your work must be organized and legible – if your TF can′ t understand what you wrote‚ they won′ t give you credit. Show your work for derivations and calculations. Be sure to calculate all results fully (don′ t leave
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Introduction Independence is a fundamental to the reliability of auditors’ reports. It is an attitude of mind characterized by integrity and an objective approach to professional works. A professional auditor should work both independent and seen to be so. Nowadays‚ but‚ the trend of providing non-audit services to audit clients seem to be sweeping accounting firms all over the world; impacts of independence impairment caused by this trend should not be ignored. The Meaning of Independence The
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Auditor Quality 1. Introduction Over the past 20 years‚ research has been carried out to interpret audit quality and still no agreement on the method of measurement for audit quality. This is because audit quality depends on individual understandings‚ and those conceptions rely on whose perspectives are taken into consideration. The International Auditing and Assurance Standards Board’s (IAASB) lately established Framework for Audit Quality (the Framework) in the purpose to systemize the
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1.7 Moral Agency – Value Creation (Biddle 2006) 1.8 Accounting is perceived as a technical practice or as a social practice. 1.8 Technical Macquarie Dictionary / The American Accounting Association (AAA) (1966‚ P.1) 1.10 Social Lonergan (2009‚ p.24) 1.11 Theoretical analysis of social impact – Parker et al. (1989‚ p.10)‚ Miller’s (1994)‚ Carnegie and Napier (1996‚ p.8) 1.13 Technical and soft skills‚ knowledge and experience – TSKE SSKE 1.15 Accounting roles‚ activities and relationships
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Table of Contents 1.0 Introduction 1.1 Audit 1.2 nature of auditor independence 1.3 principle of auditor independence 2.0 The concept of auditor rotation 3.0 The history and current debates concerning auditor rotation 4.0 Different countries regimen should be considered 5.0 Conclusion 6.0 List of references 7.0 Appendices 1.0 INTRODUCTION 1.1 Audit Auditing is the analysis of the financial accounts or records‚ by a qualified accountant‚ and
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Certified Public Accountant profession in Germany – Wirtschaftsprüfer CPA is the american title for the profession as an auditor. In Germany it’s called Wirtschaftsprüfer and is one of the most coveted professions but has also the hardest state examinations. How to become a CPA in Germany? Becoming a CPA is a long way in Germany. The candidate needs to meet several requirements to get admission to the state exam‚ even personal ones. Requirements: • First of all the person needs
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Auditor Responsibility The expectation is that an auditor should be held responsible for the quality of his/her work. This is because a major error or omission by the auditor can result in a false opinion. Auditors have a moral‚ professional and legal responsibility. In the Companies Act 2006‚ Section 507 prevents auditors knowingly or recklessly causing an audit report to include any matter that is “misleading‚ false or deceptive in a material way”. To be proved in cases of civil liability
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Professionalism‚ Ethical Codes and the Internal Auditor: A Moral Argument Mary Ann Reynolds ABSTRACT. This paper examines the case of the internal auditor from a sociological and ethical perspective. Is it appropriate to extend the designation of professional to internal auditors? The discussion includes criteria from the sociology literature on professionalism. Further‚ professional ethical codes are compared. Internal auditors’ code of ethics is found to have a strong moral approach‚ contrasting
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A Framework for Auditor Independence The ISB lays a foundation for future guidance. By Susan McGrath‚ Arthur Siegel‚ Thomas W. Dunfee‚ Alan S. Glazer and Henry R. Jaenicke January 2001 EXECUTIVE SUMMARY THE INDEPENDENCE STANDARDS BOARD issued an exposure draft for a conceptual framework for auditor independence containing the concepts and basic principles that will guide the board in its future standard setting. THE NEED FOR A FRAMEWORK AROSE FROM the jumble of confusing independence rules
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non-alcoholic beverage industry is at the growth stage of its life cycle. This is evidenced by: (1) Consumption of non-alcoholic beverage in Australia increased form 179.7 liters per capita in 2005 to 228.5 liters per capita in 2009‚ representing a 27% increase. (2) As Australian per capita consumption follows US pattern‚ Australian’s current level of 63% of US per capita consumption indicates significant opportunities for growth. (3) According to Table 4: revenue for non-alcoholic beverage has
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