be straightforward and honest in all the professional and business relationships. In this case‚ an auditor has to be integrity to present their honest and fair to the client. Even Game’s Limited’s managing director is unhappy with the existing auditing firm has been changed. Objective An auditor has to be objective and fair. Auditor has to be fairness and objective to provide financial report. The client’s point of view must not affect auditor’s objective. In this case‚ Games Ltd has been
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essential in a sales cycle (b) Outline three tests of control that should be performed by an auditor in each of the following areas: i. Cash receipts ii. Cash payments iii. Bank reconciliations (c) Summarize seven sources of internal control risks that have an impact on the financial reporting framework in an organization. Q2 (a) Outline four audit procedures you would carry out to verify the following items: i. Leased property ii. Goodwill (b) Makau and Associates‚ an accounting
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Adolescent Sexuality and Risk Factors Adolescence is that period between childhood and adulthood‚ when the adolescent is discovering his or her own identity and dealing with the transition. It is also a time of becoming more aware of sexuality and establishing patterns for future relationships. Those identifying as nonheterosexual i.e. Lesbian‚ Gay‚ Bisexual or Transgender (LGBT)‚ face even more challenges than their heterosexual counterparts. One challenge is their health. Russell and Consolacion
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Preventive Medicine 51 (2010) 73–77 Contents lists available at ScienceDirect Preventive Medicine j o u r n a l h o m e p a g e : w w w. e l s e v i e r. c o m / l o c a t e / y p m e d Lifestyle risk factors of students: A cluster analytical approach Lorna J. Dodd a‚⁎‚ Yahya Al-Nakeeb b‚ Alan Nevill c‚ Mark J. Forshaw d a Department of Psychology and Counselling‚ Newman University College‚ Genners Lane‚ Bartley Green‚ Birmingham‚ B32 3NT‚ United Kingdom Department of Physical Education and Sports
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Risk Factors Risks Relating to Honda’s Industry 1. Honda may be adversely affected by market conditions Honda conducts its operations in Japan and throughout the world‚ including North America‚ Europe and Asia. A sustained loss of consumer confidence in these markets‚ which may be caused by continued economic slowdown‚ recession‚ changes in consumer preferences‚ rising fuel prices‚ financial crisis or other factors could trigger a decline in demand for automobiles‚ motorcycles and power products
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Qiong Wu Instructor James Dutra ACC 412 March 26‚ 2014 Case 3.1 Dodgers Trolley Summary The Dodgers Trolley case is a simple problem related the internal control in auditing. Dodgers Trolley was original funded in New York‚ but Yankees performed much better. After nearly seven decades of mostly frustration on and off the baseball field‚ the Dodgers shocked the sports world by moving to Los Angeles in 1958‚ because Walter O’Malley saw the opportunity to introduce baseball to the increasing
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control framework used to conduct its assessment of internal controls. Discuss the options in selecting a control framework. Regarding the control framework‚ the SEC has made specific reference to COSO as a recommended model. Furthermore‚ the PCAOB Auditing Standard No. 5 endorses the use of COSO as the framework for control assessment. Although other suitable frameworks have been published‚ any framework used should encompass all of COSO’s general themes 24. Prior to SOX‚ external auditors were required
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Risk Factors of ABC Company Risk Factors of ABC Company ABC Company is a manufacturing firm that specializes in making cedar roofing and siding shingles. The current annual sales of the company are roughly $1.2 million. This is a 25% increase from the previous year. The goal of this company is to reach $3 million in annual sales within the next 3 years. The CEO has decided to expand the product line to include an additional product. The product expansion consists of manufacturing cedar
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make his major customer happy Pomerantz had to approve significant markdowns in Leslie Fay’s wholesale prices and grant those customers large rebate. In 1993‚ Donald Kenia‚ the company’s controller‚ took full responsibility for a large accounting fraud revealed to the press by John Pomerantz. Leslie Fay’s earnings had been overstated by approximately $80 million from 1990-1992 and about $130 million entries were fake. Upon the investigation of the Audit committee it was found out some audit tricks
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child turn to be fat as an adult. “ A child who is obese at age 6 has a 25% chance of being obese as an adult‚ and a child who is obese at age 12 has a 75% chance of being obese as an adult” (Barness‚ 2007). The roots of childhood obesity and their risk factors can be unhealthy eating‚ heritage and lifestyles. For example‚ children with parents that are already obese and with poor eating habit and sedentary lifestyle and their heritage will likely embrace the same lifestyles as their parents when growing
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