"Auditors Report" Essays and Research Papers

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Auditors Report

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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Auditors Report

SUMMARY OF THE INDEPENDENT AUDITORS REPORT TO THE MEMBERS OF NIGERIAN ENAMELWARE PLC. NAME OF THE COMPANY: Nigerian Enamelware Plc. NAME OF THE AUDITORS: Akintola Williams Deloitte, Charted Accountant, Lagos Nigeria. SOURCE OF INFORMATION: Annual Report & Accounts 2012. SCOPE: The financial statement audited by the auditors include; the balance sheet, profit and loss account, statement of cash flow, value added statement, financial summary, significant accounting policies and other...

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Auditing: Financial Audit and Auditors Reports Date

PRINCIPLES OF AUDITING Course: Auditing Title: Auditing Operations and Completing the Audit, Auditors Reports Date: March 25, 2014 Justin Kealey, CPA, is auditing Tustin Companies, Inc. Kealey has accumulated known and likely misstatements for the current year to evaluate whether there is a sufficiently low risk of material misstatement of the financial statements to issue an opinion. However, Kealey notes that there are several misstatements that have been...

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Auditors Independence

WHY IS AUDITOR INDEPENDENCE SO IMPORTANT? Auditing is the efficient critical examination done by one person or group of people’s independent from the system audited. To do an audit, confirmed information must be present and some standards by which the auditor can evaluate the information. Another is gathering and evaluating any information to determine whether the information being audited is identified in accordance with establish criteria to satisfy the purpose of the audit and also auditors must...

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Sample Audit Report with Predecessor Auditor 2011

INDEPENDENT AUDITOR’S REPORT the stockholders and board of directors XYZ CORPORATION Company Address Report on the Financial Statements We have audited the accompanying financial statements of XYZ CORPORATION which comprise the statement of financial condition as at December 31, 2011 and the statement of operations, statement of changes in equity and cash flows for the year then ended, and a summary of significant accounting policies and other explanatory information. Management’s...

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 Quistions on Academic Research Case The need for an Internal Auditor Report to External Stakeholders to Improve Governance Transparency Naimah AlBaharnah Prof. Liotta, Joseph P AC629, Contemporary Issues In Auditing June 19, 2014 What is the issue being addressed in the paper? 
 Sarbanes Oxley mandates requires all public companies to establish internal controls and procedures for financial reporting. In addition they must document, test and maintain those controls and procedures to ensure...

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Earnings Management and Auditors

a. There are three ways of managing reported earnings and the reasons behind each way may be different. (1) Report lower earnings. Managers intend to report lower earnings for mainly three reasons. Firstly, they want to hide profit for future use. In some years, the company presents a strong performance and has earned huge profit; however the manager may worry that the company’s future performance would not be as strong as current year, which gives them the incentive to save the profit by reporting...

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Tax Auditor

Introduction The topic of the report is an exploration of a career option and a Tax Auditor at Canada Revenue Agency. The purposes of this report are to not only prepare myself for the position by examining and learning but also introduce a different field of work to colleagues All residents in Canada must pay a tax and Canada Revenue Agency (CRA), formally known as Revenue Canada, is a federal agency that has as its main function the administration of Canadian tax laws for most of the provinces...

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auditor independence

Auditor Independence: An Impossible Dream In recent months there has been much discussion about the independence of CPA auditors; the leadership of the AICPA, the Auditing Standards Board, the Public Oversight Board, the Independence Standards Board, and most recently the proposed independence rules promulgated by the SEC have all attempted to clarify and strengthen auditor independence. Several newspaper and magazine articles have also addressed the issue. In my opinion, all the efforts to...

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Auditor Responsibility

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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