choices made by the financial report preparers. When undertaking an audit‚ the auditor should use professional scepticism‚ professional judgement and due care. Auditors should be independent of the client. Independent auditors have no incentives to aid the entity in presenting their results in the best possible light. They are concerned with ensuring that the information contained in the financial report is reliable and free from any significant (material) misstatements (error or fraud). A user needs
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part of our audit process‚ we will request from Tesla Motors‚ written confirmation concerning representations made to us in connection with the audit. We will issue a written report upon completion of our audit of Tesla Motor’s financial statements. Our report will be addressed to the board of directors of Tesla Motor’s. We cannot provide assurance that an unmodified opinion will be expressed. Circumstances may arise in which it is necessary for us to modify our opinion or withdraw from the engagement
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DEPTT OF MBA COLLEGE OF ENGINEERING ROORKEE – SCHOOL OF MANAGEMENT (UTTARAKHAND TECHNICAL UNIVERSITY) ACKNOWLEDGEMENT It is not a single man’s effort which is sufficient from the accomplishment of a research. Various factors situation and persons integrate to provide the back ground for accomplishment of a task requires the effort of so many people and the work is no different. I am very grateful to Mrs. Khyati Kapil
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In the business world nowadays‚ being ethical is vital to maintain the confidence of consumer. Meanwhile‚ the professional ethics of auditors are more significant to increase usefulness of financial statement and users’ confidence towards financial statement. 5 professional ethics that auditors must possess are (1) Objectivity‚ member should not allow bias‚ conflict of interest or undue influence of others to override professional or business judgement. (2)Professional behaviour‚ member should
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is mainly attributable to its low-cost strategy. Since its inception‚ BuyGasCo has attempted to be a low-cost distributor of gasoline. The operations at each service center are designed to be simple in order to keep costs at a minimum. This company does not spend excessively on things deemed to be unnecessary to the basic operations and success of the business‚ such as widespread advertising and extensive facilities modernization. For example‚ the company uses targeted sales advertising and promotions
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the proceeds received from a lump-sum sale of securities based on the securities’ par values. 7.Companies should record stock issued for services or noncash property at either the fair value of the stock issued or the fair value of the consideration received. 8.Treasury stock is a company’s own stock that has been reacquired and retired. 9.The cost method records all transactions in treasury shares at their cost and reports the treasury stock as a deduction from capital stock.
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Computer Assisted Audit Technique The test data technique is primarily designed to test the effectiveness of the internal control procedures which are incorporated in the client’s computer program. The objective of the test data technique is to determine whether the client’s computer programs can correctly handle valid and invalid conditions as they arise. To accomplish this objective the auditor prepares test data (fictitious transactions) that consist of valid and invalid conditions. The
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Fall 2011-2012 Final Exams Schedule Exam Period 08:00 -10:00 Monday Dec 19 2011 M-W-F 08:00 - 08:50 Classes M-W 08:00 - 09:15 Classes 11:00 - 13:00 M-W 11:00 - 12:15 Classes 14:00 -16:00 M-W-F 14:00 - 14:50 Classes M-W 14:00 - 15:15 Classes W 12:30 - 15:20 Classes 16:00 - 18:00 M-W 17:00 - 18:15 Classes Exam Day Tuesday Dec 20 2011 T-TH 08:00 - 09:15 Classes T-TH 11:00 - 12:15 Classes T-TH 14:00 - 15:15 Classes T 15:30 - 18:15 Classes Wednesday M-W-F 09:00
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Diversity Audit In order to recognize the benchmark or assess the present circumstance inside of the association concerning a specific zone or sub-process‚ audit is conducted. Diversity audit is a key procedure to implement and plan. The review ought to cover all gatherings of workers and the greatest number of HR procedures of the Sam’s club as it can‚ since differing qualities affects all individuals and business related components. Additionally‚ the audit could concentrate on both
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Case 2.1 (Doughtie’s Foods‚ Inc.) In the late 1970s‚ William Nashwinter accepted a position as a salesman with Doughtie’s Foods‚ Inc.‚ a publicly owned food products company headquartered in Portsmouth‚ Virginia.1 The ambitious young salesman impressed his superiors with his hard work and dedication and was soon promoted to general manager of the Gravins Division of Doughtie’s‚ a promotion that nearly doubled his salary. The Gravins Division was essentially a large warehouse that wholesaled frozen-food
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