Standards Introduction Self-regulated: the standards governing audits were established by members of the profession themselves Sarbanes-Oxley Acct of 2002 Created: Public Company Accounting Oversight Board (PCAOB) to provide external and independent oversight over the audits of public entities Responsible for registering public accounting firms‚ establishing standards for audit engagements‚ and inspecting the quality of audits conducted by public accounting firms ****Generally Accepted Auditing
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1 Chapter 7: Audit Evidence I. Definition: Evidence – information used by the auditor to draw conclusions on the fair presentation of the financial statements. Audit objectives suggest the types of evidence to accumulate. II. Decisions on evidence accumulation A. Which audit procedures to use. General Objectives: Six TRAOs Eight BRAOs Four PDAOs Accounting Cycles: Five Management Assertions Specific Objectives: At least: Six TRAOs Eight BRAOs Four PDAOs Audit Procedures: At least one
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DeLL Inc. | Strategic Audit | MAN 4720 – Strategic Management | | Group 7 | 3/31/2012 | Dell‚ Inc. Dell‚ Inc. is an American multinational computer technology corporation based in Texas‚ United States. The company develops‚ sells‚ and supports computers and related products and services. Dell Inc. is one of the largest technological corporations in the world‚ employing more than 103‚300 people worldwide. Dell is listed at number 41 in the Fortune 500 list (2011). It is the third largest
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CHAPTER 20 Audit of Cash Balances Copyright 2003 Pearson Education Canada Inc. 20 - 1 What are the auditor’s primary concerns with regard to cash? Copyright 2003 Pearson Education Canada Inc. 20 - 2 What are the auditor’s primary concerns with regard to cash? - existence Copyright 2003 Pearson Education Canada Inc. 20 - 3 What are the auditor’s primary concerns with regard to cash? - existence - completeness Copyright 2003 Pearson Education Canada Inc
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AUDITING THEORY 1. Which of the following activities is an analytical procedure an auditor would perform in the final overall review stage of an audit to ensure that the financial statements are free from material misstatement? A. Reading the minutes of the board of directors’ meetings for the year under audit. B. Obtaining a letter concerning potential liabilities from the client’s attorney. C. Comparing the current year’s financial statements with those of the prior year. D. Ensuring that
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Yellowtail Marine Case Study (Summary) As I have read the case‚ Robyn Gilcrist has to start work on May 4 under the direction and supervision of Olaf Gunerson‚ founder and former owner of Yellowtail‚ over the next 12 months. But due to the unexpected death of Mr. Gunerson‚ Robyn will be taking control of Company on April 14 instead of May 4 as was planned before. Due to this sudden change Ms. Robyn will face very tough challenges as a president of Yellowtail Marine‚ Inc. Robyn arrived to her first
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What does it take to make integrated care work? Around the world‚ only a few health care providers deliver integrated care effectively. Their experiences offer useful lessons for organizations that want to pilot integratedcare programs. What does it take to make integrated care work? 2 Jenny Grant Two interrelated factors—the growing prevalence of chronic diseases and population aging—are placing a heavy burden on health systems. In all parts of the world except Africa‚ chronic diseases
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a flat platform of rock pockmarked with numerous rock pools; indents in the rocks which are filled with water and contain numerous forms of marine life. These pools can vary in size‚ from small cracks in the rock which have a changing water level or huge crevices which almost always have a level of water in them. Each rock pool has different species of marine life‚ in varying numbers. The platform lies at the base of a cliff‚ and is usually sheltered from the constant barrage of waves‚ except occasionally
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Chapter 1 Introduction The development of Integrated Reporting is designed to enhance and consolidate existing reporting practices‚ to move towards a reporting framework that provides the information needed to assess organizational value in the 21st century. The traditional reporting model was developed for an industrial world. Although it continues to play a valuable role with respect to stewardship of financial capital‚ it nonetheless focuses on a relatively narrow account of historical financial
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SEMESTER 1‚ 2013 SEMINAR 9 - PROBLEM QUESTIONS PROBLEM 9.1 While assessing the risk of material misstatement and determining the appropriate response with regard to the inventory of Ace Computers Ltd (Ace) for the year ended 30 June 2011 audit‚ you become aware of the following information: 1. The best-selling computer presentation package has been experiencing a high level of returns owing to suspected software problems. 2. Based on closing inventory‚ inventory turned over
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