an organization’s overall level of ITGC risk within the context of an integrated audit. Keywords: internal controls; general control; ITGC; risk assessment. T INTRODUCTION he Sarbanes-Oxley Act (SOX 2002) and the Public Company Accounting Oversight Board (PCAOB) Auditing Standard No. 5 (PCAOB 2007) require that the organization’s chief executive officer (CEO) and chief financial officer (CFO) include an assessment of the operating effectiveness of their internal control structure over financial
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The SEC’s Case against California Micro Devices: A Lesson in Using Professional Skepticism and Obtaining Sufficient Appropriate Evidence This particular case‚ involving the SEC‚ Coopers & Lybrand‚ and California Micro Devices‚ Inc. encompasses charges for neglecting to comply with auditing standards. The Securities and Exchange Commission makes these charges against Michael Marrie‚ audit partner‚ and Brian Berry‚ manager‚ of Coopers & Lybrand. There are three main areas in which the
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|Francis Marion University | |Exposure of the Accounting Profession To Increasing Liability | |Response of the Profession | |
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org/Rules/PCAOBRules/Pages/Section_5.aspx#rule5105 Audit Evidence. Auditing Standard No. 15. PCAOB‚ n.d. Web. Retrieved February 17‚ 2014. http://pcaobus.org/Standards/Auditing/Pages/Auditing_Standard_15.aspx#auditevidence AU Section 9326. Public Company Accounting Oversight Board. N.p.‚ n.d. Web. Retrieved February 17‚ 2014. http://pcaobus.org/Standards/Auditing/Pages/AU9326.aspx#2 Statements on Standards for Tax Services. AICPA. N.p.‚ n.d. Web. Retrieved February 17‚ 2014. http://www.aicpa.org/interestareas/tax/re
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Chief Auditor It is a distinct pleasure to speak to this group that uniquely blends a passionate interest in auditing standards‚ practice‚ and education. I have the honor of being the first Chief Auditor of the Public Company Accounting Oversight Board – the primary advisor to the Board on policy and technical issues related to the auditing of public companies‚ including auditing standards‚ and the head of the PCAOB’s professional standard-setting division. However‚ the views I express today
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Chapter 1 The Canadian Financial Reporting Environment Prepared by: Dragan Stojanovic‚ CA Rotman School of Management‚ University of Toronto The Canadian Financial Reporting Environment Role of Financial Reporting • Financial statements and financial reporting • Accounting and capital allocation •Stakeholders Objective of Financial Reporting •Management bias •Users’ needs Standard Setting • Need to develop standards • Parties involved in standard setting • Standard setting in a political
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Internship Project Acknowledgment First of all‚ I thank: Mr.Zeeshan Ahmed Senior Manager - Risk Assurance Services (Systems & Process Assurance) at Price Waterhouse Coopers. He offered comprehensive business and technical training‚ professional examination training support as well as an excellent environment for career development. Ahmed Godil Manager-Risk Assurance Services-Internal Audit at PricewaterhouseCoopers Dr Kaup Mohammed. The Dean and Director of the London American
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Confirming Pages 15th Edition Financial Accounting Jan R. Williams University of Tennessee Susan F. Haka Michigan State University Mark S. Bettner Bucknell University Joseph V. Carcello University of Tennessee wil28701_fm_i-xxxiii.indd i 12/3/10 4:21 PM Confirming Pages FINANCIAL ACCOUNTING Published by McGraw-Hill/Irwin‚ a business unit of The McGraw-Hill Companies‚ Inc.‚ 1221 Avenue of the Americas‚ New York‚ NY‚ 10020. Copyright © 2012‚ 2010‚ 2008‚ 2006‚ 2003
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federal agencies. Congressional oversight refers to the review‚ monitoring‚ and supervision of federal agencies‚ programs‚ activities‚ and policy implementation. Congress exercises this power largely through its congressional committee system. However‚ oversight‚ which dates to the earliest days of the Republic‚ also occurs in a wide variety of congressional activities and contexts. These include authorization‚ appropriations‚ investigative
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war‚ they control finances for war and can therefore discontinue a war’s funding. II. Two provisions of the War Power Resolution that were designed to limit the President’s power over war making a. Requires the president to obtain congressional approval before committing U.S. forces to a combat zone b. Requires the president to withdraw troops within 60 days unless Congress votes to declare war III. Two other formal powers Congress has over war making
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