Inherent Risk Inherent risk is the susceptibility of an account balance or class of transactions to misstatement that could be material either individually or when aggregated with misstatement in other balances or classes assuming that there were no related internal controls. This risk mainly arises at the level of management and the risk factor generally being high. Factors Affecting Inherent Risk: At the level of financial statement Integrity of management; Management’s experience and
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JB Hi-Fi Limited Consulting Report 2014 Consulting Report 2014 JB Hi-Fi Limited Consulting Report 2014 Content Introduction ....................................................................................................... 1 1. SWOT Analysis ............................................................................................. 1 2. Key Capability Analysis ............................................................................... 3 3. Major Stakeholder Analysis ...........
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One inherent risk factor that would impact my audit procedures of Enron were the large number of highly complex accounting entries. For example energy traders were required to book all the projected profits from a supply contract in the quarter in which the deal is made. Such accounting procedures are inherently risky as they make assumptions about price forecasts which can drastically affect earnings. Another inherent risk factor is the frequency of related party transactions. The special purpose
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JB Hi-Fi ’s corporate governance structure Effective corporate governance structures encourage companies to create value‚ through entrepreneurialism‚ innovation‚ development and exploration‚ and provide accountability and control systems commensurate with the risks involved. Electronics retailer JB Hi-Fi‚ as a publicly listed firm‚ sees affective corporate governance as critical factor to achieving corporate goals and increasing the company ’s value. JB Hi-Fi ’s corporate governance structure
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period a statement of cash flows for the period notes‚ comprising a summary of significant accounting policies and other explanatory information. The JB Hi-Fi Limited financial report has been prepared in accordance with Accounting Standard. In the report there is a summary statistical analysis presented. This analysis presents the JB Hi-Fi Limited profit or loss‚ increasing or decreasing. This report is based on the consolidated financial statements which have been reviewed by Deloitte. Results
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Company Overview JB Hi-fi was established by John Barbuto (JB) in 1974 and opened its first shop in Melbourne. In 1983‚ it was sold to Bouris and Rodd who expanded the company and‚ later on‚ sold the majority of their holding to a private equity‚ Next Capital Pty Limited. The company’s share was floated in Australian Stock Exchange in 2003 at IPO price of $1.55. JB Hi-Fi‚ has diversified its business from predominantly selling music CDs‚ and is now a major retailer for televisions‚ audio/visual
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audit risk model‚ which is used to determine the nature‚ timing‚ and extent of audit procedures. Describe the components of the model and discuss how changes in each component affect the auditor’s need for evidence. The audit risk model is used to determine the nature‚ timing‚ and extent of substantive audit procedures. The components of audit risk model usually stated as follows: DR = AR/(IR x CR) Where: DR = detection risk; AR = audit risk; IR = inherent risk; CR = control risk Detection Risk: auditors’
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GiGi-Fi Technology Shivam Prajapati 0814331046(roll no.) Electronics and communication IMS Ghaziabad Agenda Introduction Former Technology IEEE 802.15 3C 802. GiGi-Fi Technologies Bluetooth v/s Wi-Fi WiHow a Gi-Fi Network Works GiArchitecture Features Applications of Gi-Fi GiConclusion Introduction . Gi Fi or Gigabit Wireless is the world’s first transceiver integrated on a single chip that operates at 60GHz on the CMOS process. 60GHz process. GiGi-Fi
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preliminary assessment of inherent risk and control risk at Queen Island Dairy. The preliminary assessment of risk‚ also known as the risk assessment phase‚ is the initial step in an audit that includes gaining an understanding of the client and identifying potential risk factors whilst developing an audit strategy and setting planning materiality. There are three key steps in the risk assessment phase‚ being; gaining an understand of the client‚ identifying potential risks and strategies to prevent
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Abstract of Li-Fi Technology Whether you’re using wireless internet in a coffee shop‚ stealing it from the guy next door‚ or competing for bandwidth at a conference‚ you’ve probably gotten frustrated at the slow speeds you face when more than one device is tapped into the network. As more and more people and their many devices access wireless internet‚ clogged airwaves are going to make it increasingly difficult to latch onto a reliable signal. But radio waves are just one part of the spectrum that
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