ETHICS AND ITS THREATS TO AN AUDITOR BY UADIA CHRISTOPHER 14027674 Ethics Ethics can be defined broadly as a set of moral principles or values The word “Ethics” was derived from the Greek word ethos‚ meaning ‘character’. Ethics are standards of behaviour that describes how people react when they encounter different situations Ethics for Professionals The professional Ethics code is a part of Ethics which answers the question: how should the profession be practised? Professionals
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Phase 2 Planning Due: 18 May 2013 Required: Given the details established in phase 1 (Instigation) and further details below you are required to prepare a 1-2 page document stating your investigative hypothesis and then deduce your strategy for proving/denying your hypothesis. Your deduction should include a table with three columns stating the information you propose to review‚ where the data would be found and what you are specifically looking for in analysing the data. Information – what
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Independence of external auditor By:- shubham kanchhal Auditor independence refers to the independence of the auditor from parties that may have a financial interest in business being audited. Independence requires integrity and an objective approach for the audit process. This concept requires the auditor to carry his work freely and in an objective manner. The purpose of an audit to enhance the credibility
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Proactive Fraud Auditing End of Chapter 4 in Albrecht FRAUD DETECTION Recognizing the Symptoms of Fraud Identify Risk Exposures Proactively Look for Symptoms & Exposures 1 2 Actg 537 Identify Fraud Symptoms for Each Exposure 3 4 Investigate Identified Symptoms Symptoms of Fraud What are some irregularities in source documents to look for? Missing Documents Payee Names & Addresses = Employee “Stale Items” on Bank Items” Reconciliation Excessive Voids or Credits
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M1. Case Study Assignment: Fraud at WorldCom 1. Who were the major characters in WorldCom? There are a couple of major characters that played their roles in the downfall of WorldCom. Mr. Bernard J. (Bernie) Ebbers‚ one of the founders of the original small long-distance carrier‚ was asked to take charge of the company during its early struggles. It was under his tenure that WorldCom began its expanding pursuits and aggressive acquisitions. Although Mr. Ebbers was he head of the company‚ their CFO
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1. Auditor Liability in Canada A & B Is it reasonable for a potential investor or existing shareholder to rely on audited financial statements that a corporation makes available for public consumption? Should an investor be able to sue a corporation’s auditor if audited financial statements materially misrepresent the financial status of the company audited? a. Should a potential investor only be able to sue the corporation? b. Should there be any limit on the auditor’s liability?
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Welfare fraud refers to various intentional misuses of state welfare systems by withholding information or giving false or inaccurate information. Some common types of welfare fraud are failing to report a household member‚ claiming one or more imaginary dependents‚ failure to report income‚ or providing false information about not being able to work. There have been cases of people feigning illness in conjunction with welfare fraud. Welfare fraud seems to be a big and expensive problem
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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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positions hurts Field Auditor 2 (Senior Auditor) and Field Auditor 3 (Internal Auditor). That’s just the classification they can be called anything; however‚ it hurts because it’s what’s indicated on the job description. Additionally‚ they posted the minimum salary of $33K & 30K which I’m going to pay a lot more than that which of course hurts things. I’m working with HR to remove the minimum salary‚ move to mid range‚ or something for the next posting. I’m sure that will
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The European Court of Auditors Introduction The European Court of Auditors is the fifth institution of the European Union (EU). It was established in 1975 in Luxembourg to audit the accounts of EU institutions. This report will cover 3 aspects which are history‚ organization and president. Then it will give some criticism about the declaration of assurance and the size of the court. History The Court of Auditors was created by the 1975 Budgetary Treaty and was formerly established on 1977-10-18
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