Internal Auditors Objectivity in the Banks Operating in the United Arab Emirates: (A Field Study) Dr. Riham Muqattash‚ Asisstant professor‚ Al-Ain University of Science and Technology‚ Abu-Dhabi ABSTRACT Since the demand for range of non-audit services increases‚ the need for appropriate supervision and standards for assuring professionalism and especially objectivity in audit services also increases‚ this study examined the factors affecting the objectivity of internal auditors in the internal
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Unit 9 Final Project: Integrity in Accounting “In 2001 and 2002 corporate giants like Enron‚ Global Crossing‚ and WorldCom were forced to declare bankruptcy‚ and massive accounting and other irregularities were revealed… In response to the public outcry that ensued‚ the [Sarbanes-Oxley] Act was enacted” (Lander‚ 2004‚ p. 1). Officials feared that because of these scandals in the financial reporting industry that investor confidence would be lost‚ which would cause the economy to deteriorate.
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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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ANTI-VIRUS REALITY CHECK As companies increasingly rely on the data contained on their computer systems‚ threats to the data are also growing. Threats to data‚ or to information‚ can come in the form of a breach of confidentiality‚ a violation of integrity‚ or a denial of availability. These threats can come from various sources including computer hackers with malicious intent‚ natural or unnatural disasters‚ the lack of security policies‚ the failure to enforce security policies and computer viruses
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Coursework Essay Topic: Why is it important for external auditors to be independent? Relate your answer to the primary role of external auditors. Give examples of specific ways the lack of auditor independence may impact adversely on an audit. In 2001‚ there was an event that had shaken the whole business world. The crash of Enron in US‚ followed by worldwide collapse of its auditor‚ Arthur Andersen. It was a greatest corporate failure uncovered in business
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recipients FUNDAMENTAL PRINCIPLES INTEGRITY • Straightforward & honest in all pro & business rship • Also implies fair dealing & truthfulness • PA shall not knowingly be assoc with reports‚ returns‚ comms or other inform where PA believes: o Contains a materially false or misleading statement o Contains statements/info furnished recklessly o Omits/obscures info req to be included = misleading • When aware‚ PA shall take steps to be disassoc from that info OBJECTIVITY • Not allow bias‚ conflict of
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Izzy Lowell-Forker May 13‚ 2014 Credito Culturales Los Cumpleanos en Espanola In Spanish countries birthdays for young and old are celebrated with much consideration. But Birthdays are celebrated just a little different from how we celebrate them in the USA. In Spain‚ instead of getting a punch in the arm for every year of your life‚ you get a tug on your ear… plus one for good luck. Another different custom in Spain is when you are old enough; you throw your own parties and treat your friends
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effective in preventing major scandals on the lines of Enron and Worldcom. 1.0 ABSTRACT 2.0 ENRON-CORPORATE FIASCOS 3.0 HOW DID THE AUDITORS FAIL TO CATCH PROBLEMS AT ENRON? 4.0 HOW TO PREVENT RECURRENCE OF ENRON? 5.0 NEW RESPONSIBILITIES OF AUDITORS ACCORDING TO SARBANES-OXLEY ACT 2002 6.0 CONCLUSION 7.0 REFERENCES 1.0 ABSTRACT The responsibility of an auditor is to express an opinion on the financial statements based on his audit which means verification or check in accordance with International
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the firm should have carried out in determining whether it should accept the appointment as auditors to Gramjon Limited. The most general definition of an audit is an evaluation of a person‚ organization‚ system‚ process‚ project or product. Audits are performed to ascertain the validity and reliability of information‚ and also provide an assessment of a system ’s internal control. (Wikipedia‚ 2009) Auditors have to do a lot of research on a firm before accepting an appointment. The main matters they
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ASSESSMEMT STUDENT NAME: POOJA PRADHAN STUDENT NUMBER: 11505769 ECO130 Business Economic Assessment item-1 Multiple Choice Quiz ECO130 ASSESSMENT NUMBER 1 (201330) (NOTE there are 20 multiple choice questions. You should allocate yourself 1.5 minutes per multiple choice question (i.e. a total of 30 minutes). This is NOT an open book exam. Choose the best answer
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