"Financial Audit" Essays and Research Papers

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Cbi Case Solution

companies agreed that TWC would have the right to take control of CBI in case of any so-called triggering events. Shortly after this deal in following 1992 and 1993 Castello and his subordinates were intentionally misrepresenting operating results and financial conditional for the end of fiscal years mainly for enlarging Castello bonuses. To be more specific CBI understated payables at the end of fiscal 1992 and 1993 due to its large vendors by millions of dollars particularly by developing the “advances”...

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Mr. Bukhari

being a top five player. The target company was a Caanja Ltd and its various subsidiaries. When the proposed acquisition was presented to the parent company, it received a very warm response and the parent company agreed to provide the necessary financial support to make the acquisition happen. During the negotiation process issues arose surrounding management structure, Value and due diligence. While you had concerns there was nothing tangible that you could point to. While your concerns were noted...

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ACC 491 Final Exam

applies to 3) Which of the following assertions is NOT made by management in placing an item in the financial statements? 4) Section 11 of the Securities Act of 1933 uses the term material fact to limit the amount of information required. Under the Act, the standard used to determine an item’s materiality 5) Individuals or entities the auditor knew or should have known and would rely on the audit report in making business and investment decisions are 6) Section 18 liability is relatively narrow...

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ACC 492 Week 3 Learning Team Apollo Shoe Case Assignment Study Guide

in Less Time! 100% Satisfaction Guarantee DESCRIPTION FOR THIS STUDY GUIDE: Dq1 What are the steps that are required for an auditor to finalize the audit? Which steps are the most crucial to the outcome of the audit? How will these steps affect the final audit decision? What are the steps that are required for an auditor to finalize the audit? Dq2 What other types of engagements are auditors involved in besides auditing? What are the other types of reports that auditors will issue? What types...

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Auditing 530

 Case Study 5-4 Audit Client Considerations The Ethics Environment ACCT 530 Week 5 Date: October 5, 2013 Audit Client Considerations With this particular case study I will discuss several questions and facts regarding audit client considerations. 1) A brief summary of the case. 2) Identify key behaviors, attitudes and ethical dilemmas (if any) faced by the auditors. 3) Assess the philosophical and practical alternatives summarized in the case questions and evaluations of those...

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Internal Control in Financial Statement Audit

…………………………………………………………………………………………..…………………5 Relationship Between the Assessments of Inherent and Control Risks…………………………..……..……6 Identifying Specific Controls Relevant to Specific Assertions………………………………………………..……..6 Types of Control Activities that Relate to Financial Statement Assertion……………………………..……..7 STAGE C: OBTAINBING EVIDENTIAL MATTER TO SUPPORT THE ASSESSED LEVEL OF CONTROL RISK…….7 Performing Tests of Controls………………………………………………………………………………………………………7 Nature of Tests of Control……………………………………………………………………………………………………...

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ACC303 Assignment Y3 S2 B11

legitimate mitigating factor(s). 3. Word limit : 1,500 words QUESTION 1 (20 marks) You are the audit senior on the audit of Airclean Sdn Bhd, a small sized manufacturer of air purifiers. This is the first year your firm has performed the audit. As part of the planning work, you have performed analytical procedures on an annualised basis and compared the results to industry averages and last year’s audited financial information. The results are given below : Airclean Sdn Bhd Industry Average Ratio 2012 2011...

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Auditing Introduction Letter

educated and trained personnel and high quality audit tools. Our audit approach is successful because it concentrates on understanding the clients' business and control issues, and combines diagnostic process, risk assessment, and audit testing procedures. My role in providing assurance is to ensure that there is sufficient audit evidence, to check the control present in the IT environment of your firm, testing control procedures, planning audit procedures, and assisting other auditors and experts...

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Recommendation Brief for an Internal Accountant

that a well-qualified internal accountant be hired by the company. An internal accountant will provide management with the necessary information needed to handle issues that arise, as well as preform system audits to maintain internal accountability. Setting forth a reliable internal audit system will build stability within the company and assist with violations occurring with laws and regulations. The role of an internal accountant will include, but are not limited to, working closely with the...

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Case 2.2 Dell Auditing

 Dell case According to the 10-K filed on 30/13/2012 on Dell’s website, the following data has been appeared on the fiscal 2012 financial statement. Sales: 62,071 Total Assets: 44,533 Net income: 3,492 Cash flows from operating activities: 5,527 Number of employee: 2012 109,400(106700 regular employee and 2,700 temporary employee) 2011 103,300(100,300 regular employee and 3,000 temporary employee) 39,900 located in USA and 66,800 in other countries Dell’s products Dell’s products...

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