HW & KH Winter 2014 MGAD10 Case Assignment 1 Case Question You‚ CPA‚ CA/CGA/CMA‚ are an auditor at a large public accounting firm. Shortly after receiving your professional designation‚ you were approached by the President of your Provincial Institute about joining the Professional Conduct Committee (PCC) as a volunteer investigator. The PCC is responsible for investigating potential breaches of the rules that govern the conduct for auditors of financial statements (i.e. Rules of Professional
Premium Audit Invoice Accounts receivable
DATE: Sept 14‚ 2014 TO: Edward Sloane‚ Senior Audit Partner FROM: XXXX‚ CPA‚ CGA Subject: I have been auditing Vehicles For Hope Limited (VHL) for the last five years‚ however during my recent meeting with the accountant I was informed of several changes that have taken place during the last one year. I am writing this memo to apprise you of these changes and seek your feedback on audit planning. Significant Donations: Two months ago a long standing board
Premium Board of directors Auditing Audit
Audit and Assurance (International) Wednesday 9 December 2009 Time allowed Reading and planning: Writing: 15 minutes 3 hours ALL FIVE questions are compulsory and MUST be attempted. Do NOT open this paper until instructed by the supervisor. During reading and planning time only the question paper may be annotated. You must NOT write in your answer booklet until instructed by the supervisor. This question paper must not be removed from the examination hall. The Association
Premium Auditing Audit
market. Sarbanes Oxley Act Section 802 pertains to corporate and criminal fraud accountability. The section imposes penalties of up to ten years imprisonment for accountants who knowingly and willingly violate the maintenance or review papers of an audit (Sarbanes). The section also imposes fines and imprisonment up to twenty years for knowingly destroying documents or falsifying records that impend a legal investigation (Sarbanes). The strict fines and penalties help to detour accountants and business
Premium Enron Audit Big Four auditors
Fraud Auditing and Different type of fraud Introduction Over the years‚ the role of auditors become increasingly important especially in a capitalist economy as the process of wealth creation and political stability depends heavily upon confidence in processes of accountability and how well the expected roles are being fulfilled. An auditor has the responsibility for the prevention‚ detection and reporting of fraud‚ other illegal acts and errors is one of the most controversial issues in auditing
Premium Auditing Fraud Audit
Bangor Berhad. FCB had appointed Kenchana& Associates as its external auditor. The Protagonist Mr Chuah Mun Soong is the main character in this case. He is an auditor for FCB. He needs to present the financial report of Flat Cargo Berhad to the audit committee of FCB in two weeks. However‚ there are several inconsistencies reported by his subordinates in the accounts of FCB. The main problem faced by Mr Chuah is there might be high possibility that his client company (FCB) involved in fraud.
Premium Audit Auditor's report Auditing
the Economy Public Accounting 1) audtiors provide opinions on financial statements and‚ as part of an integrated audit‚ ausitors provide opinions on internal control effectiveness a. Confidence in financial system decreases when fails 2) Unqualified audit report a. When auditor has no reservations about financial statements or internal control 3) Financial Statement Audit a. Objectively obtaining and evaluation evidence regarding economic actions and events b. Management responsible for
Premium Audit Internal control Auditing
Anderson audit team in the Enron crisis was not as direct as those on the executive committee. However‚ Arthur Anderson completed the annual audits of the Enron financial statements and issued an unqualified opinion. Anderson failed to make proper acknowledgement of the revenue recognition practices and use of SPE’s to divert debt. They did not react until Enron started its financial decline. Anderson spends over 50% of its time at Enron consulting. Had they invested more time on the audit process
Premium Enron Audit Auditing
Chief Financial Officer or CFO of the Enron corporation‚ he had a major influence. He was guilty of fraud‚ money laundering‚ inside trading‚ and conspiracy‚ among other crimes. Due to his acts such as misleading Enrons board of directors and audit committee on risky accounting practices and pressuring Andersen to ignore the issues and allow his proposal. B. Lay being the founder and CEO of the Enron corporation was very much influential to its operations and decision making. He was one of the
Premium Enron Audit Auditing
INTERNAL AUDIT DIVISION AUDIT REPORT UNHCR recruitment process for national staft in the Democratic Republic of the Gongo Inadequate monitoring of recruitment actions resulted in unnecessary delays of more than one year in lllling key posts 16 June 2O09 { Assignment No. ARIIOOS/{ 0/04 Unies United Nations rurtions @ INTEROFFICE EMORANDUM M oFFtcE oF TNTERNALvERsrcHT sERvtcES o I M E M O R A N O U MN T E R I E U R B U R E A UD E s s E R V t c E s o E c o N T R O L E T N T E R N E I N
Premium Audit Democratic Republic of the Congo Auditing