EXPLAIN THE RESPECTIVE ROLES AND RESPONSIBILITIES OF MANAGEMENT AND AUDITORS IN THE PREVENTION AND DETECTION OF FRAUD. The primary responsibility for fraud detection lies with management. This arises due to a contractual duty of care. Directors are able to discharge their duty toward prevention and detection of fraud and error in many ways‚ for example: * Complying with the Combined Code on Corporate Governance * Developing a code of conduct‚ monitoring compliance and taking action against
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There are many important reasons to be at the right time and place for reporting and accountability. The main reasons of importance are knowing the soldiers wellbeing‚ information‚ accountability‚ movements‚ and punishments. The first reason being that allows the Chain of Command to know that the soldier is well. Many issues could arise from the soldier not being ok. Not only worries of personal safety to the soldier (aka not dead in a ditch somewhere)‚ but as well to the Army‚ and OPSEC as
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Are Hong Kong people too concerned about how much they weigh? Hong Kong people‚ especially teenagers‚ are focusing too much on their weight‚ or their body shape in other words. It has always been a hot topic among teenagers about how to lose weight even though they are actually thin enough. This essay will evaluate the reasons behind this strange phenomenon‚ and it is mainly because teenagers face pressure from their peers and is imperceptibly influenced by the mass media. Peer pressure has
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Auditor Independence: An Impossible Dream In recent months there has been much discussion about the independence of CPA auditors; the leadership of the AICPA‚ the Auditing Standards Board‚ the Public Oversight Board‚ the Independence Standards Board‚ and most recently the proposed independence rules promulgated by the SEC have all attempted to clarify and strengthen auditor independence. Several newspaper and magazine articles have also addressed the issue. In my opinion‚ all the efforts to
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Financial Reporting Problem‚ Part I ACC/290 March 18‚ 2013 Tony Ames Financial Reporting Problem‚ Part I In today’s markets there are several factors that make up a public company and allow it to be desired by investors. * Total Current Assets: Previous Annual Reporting Period * * The total current assets at the end of the previous annual reporting period‚ December 31‚ 2011‚ was $22‚985‚000 in comparison to the most current year of 2012’s results of $22‚706‚000. Therefore
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Lisa Wilson Strick’s article “What’s So Bad about Being So-So?” states that‚ in today’s society‚ people are too serious to the point that no one does things just for fun‚ but only for competition. There are children who are acting like grown adults instead of children because they are so stressed out about being the best in everything that they do. Friendships are being ruined because no one is safe from today’s competitive edge. Strick’s article tries to instill the thought that we need to go back
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SUMMARY OF THE INDEPENDENT AUDITORS REPORT TO THE MEMBERS OF NIGERIAN ENAMELWARE PLC. NAME OF THE COMPANY: Nigerian Enamelware Plc. NAME OF THE AUDITORS: Akintola Williams Deloitte‚ Charted Accountant‚ Lagos Nigeria. SOURCE OF INFORMATION: Annual Report & Accounts 2012. SCOPE: The financial statement audited by the auditors include; the balance sheet‚ profit and loss account‚ statement of cash flow‚ value added statement‚ financial summary‚ significant accounting policies and other
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Why So Expensive? College is said to be some of the best years of your life. The parties‚ the freedom‚ and the new experience help you find new friends‚ hopefully a career and yourself‚ but rising college cost are having young adults stressing instead of enjoying the college experience. Every year less and less states are giving their college’s money and more and more students are asking for financial aid or taking out student loans. The more that college tuition continues to rise the more of
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LEARNING OBJECTIVES Meaning and objectives of vouching Importance of vouching Types of vouchers Vouch various transactions like vouching of trading Transactions and vouching of cash transactions VOUCHING • Meaning • Vouching is concerned with examining documentary evidence to ascertain the authenticity of entries in books of entries in books of accounts. • Evidence supporting and substantiating the transaction made in the books. • It is a technique to judge the truth of
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Why the Axis powers were so successful from 1939-42 The primary reason for the Axis powers’ success during this period of time was the fact that they were militarily superior to most other countries in Europe. By 1939‚ they had the second largest air force in the world with 8295 aircrafts. Only Russia‚ (10382 aircrafts)‚ had a larger air force. The German’s and the Russians were allies at this time and so Germany didn’t view Russia as a threat. There was a similar scenario with troops. Hitler
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