DEVELOPING YOURSELF AS AN EFFECTIVE TEAM MEMBER (M2.34) Understanding teams and teamwork The difference between a team and a group is that a team is internally organized‚ with specific roles for different members of the team. They all have the same aim and goal. A group is just a collection of people with something in common but each individual has a different goal. The Forming – Storming – Norming – Performing model of group development was first proposed by Bruce Tuckman in 1965‚ who maintained
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AUDIT ENGAGEMENT LETTER To the governing body Hood Furniture‚ Inc. Dated August 30‚ 2007 Dear Mr. Conrad Saws‚ As certified public accountant licensed to do audits in Oregon‚ we are happy that you have engaged our firm to audit your financial statements as of December‚ 31‚ 2007 and for the year then ended. This letter will substantiate our understanding of the arrangements regarding the financial audit we shall be making of the Hood Furniture Inc as of and for the year ended December 31‚ 2007
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Benefits of Conflict among Team Members Introduction Conflict is inevitable in the workplace. Countless documents research conflict and their important determinant in team building and team resolution. Tjosvold states‚ “For formulating strategy‚ avoiding disasters‚ and strengthening relationships‚ conflict has proved invaluable.”(13) Does conflict hinder a team’s ability to produce resolution in differences? Can differences in opinions create stronger relationships and produce effective and
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AUDIT PLANNING Audit planning procedures are the first and perhaps the most important step in carrying out a successful audit. Without adequate planning‚ the likelihood of missing a significant risk area or encountering engagement-related problems increases considerably. As baseball great and noted philosopher‚ Yogi Berra puts it‚ “If you don’t plan on where you are going‚ you could end up someplace different!” All too often the auditor does not give adequate attention to audit planning for a vast
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INTERNATIONAL ACCOUNTING Sources: 1) Financial knowledge enables central control to determine what is happening in different subsidiaries. That enable the integration and control of subsidiaries by the central control. (Belkauoi‚ 1991) 2) Management accounting’ involvement in currency management is also important as the fluctuations in the exchange rates can distort the financial results of the subsidiaries. (Eiteman‚ Stonehill and Moffet‚ 1992). 3) Management accounting is a means
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Fundamental concepts of f/s audit Materiality misstatement of accounting information. is a matter of professional judgment Audit risk The auditor expresses an inappropriate audit opinion when the financial statements are materially misstated‚ Evidence (more than “per discussion with client) Major phrases of audit: Client acceptance/continuance; Preliminary engagement activities; Establish materiality and assess risks; Plan the audit ;Consider and audit internal control; Audit business processes and
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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 Standards (GAAS)****
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Difference between Human Resource Management and Personnel Management Human resource management involves all management decisions and practices that directly affect or influence the people‚ or human resources‚ who work for the organization. In other words‚ Human resource management is concerned with ‘people centric issues’ in management. The Human Resources Management (HRM) function includes a variety of activities‚ and key among them is deciding what staffing needs you have and whether to use
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A PRESENTATION ON PERSONNEL SELECTION PSY 409(SEMINAR IN RESEARCH INDUSTRIAL AND ORGANISATION PSYCHOLOGY) Personnel selection Definition Personnel selection is defined as the process used to hire (or‚ less commonly‚ promote) individuals. The term can apply to all aspects of the process‚ recruitment‚ selection‚ hiring‚ acculturation etc. The most common meaning focuses on the selection of workers. In this respect‚ selected prospects are separated from rejected applicants with the intention
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staff by the firm to an audit client may create a self-review threat. (APES110.290.142) Referring to APES110‚290 142‚ it states that if the firm lend the staff to audit client‚ and it will create the self-review threat. The possible safeguards are as following: Pay more attention on the work done by the loaned staff while in audit engagement. Do not assign any audit responsibility to the task that is performed by that loaned staff. Remove the loaned staff from engagement team‚ Wendy is
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