Inherent Risk i) expanded into a national manufacturer of high technology sustainable energy products brings with it a range of uncertainties‚ including compliance requirements and logistical problems increased potential for misstatement due to the judgements required requiring more judgement such as research and development (valuation)‚ intangible assets (valuation)‚ inventory (valuation) and property plant and equipment (valuation). ii) assets include “intellectual property rights”
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THE RELATIONSHIP OF RISK ASSESSMENTS AND INFORMATION TECHNOLOGY TO DETECTED MISSTATEMENTS Lizabeth A. Austen Assistant Professor University of Arkansas Aasmund Eilifsen Associate Professor Institute of Accounting‚ Auditing and Law Norwegian School of Economics and Business Administration William F. Messier‚ Jr. Deloitte & Touche Professor Georgia State University Professor II Institute of Accounting‚ Auditing and Law Norwegian School of Economics and Business Administration Preliminary Draft:
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Inherent risk Computerizing risk Non-routine transactions (Beasley 2010‚ p268) ‘Transactions that are unusual for the client are more likely than routine transactions to be incorrectly recorded‚ because of the client often lacks experience in recording them.’ Why it is risk: Santos use a series of computerizing or IT technology to support their business for increase market competition. IT technology has been used for trade ordering systems between customs and Santos. Customers can order
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Inherent Risk * i/3 of audit risk model.. lesast amount of evidence awailable use professional judgement * not static‚ assessed at the planning stage mostly and audit too Major factors that an auditor should consider when assessing inherent risk 1) Nature of clients business – the more susceptible the client the greater the risk ( if the client is in a business with heavy changes in technology 2) Nature of data processing – the more poorly the IT system is made
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IDBI BANK LTD. | RISK AND TRUST IN RETAIL BANKING(Retail Asset) | Guided by: Mr. Akhilesh Prakash | Submitted by:SAURABH MEHTA Admission
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Inherent Risk Inherent risk is the susceptibility of an account balance or class of transactions to misstatement that could be material either individually or when aggregated with misstatement in other balances or classes assuming that there were no related internal controls. This risk mainly arises at the level of management and the risk factor generally being high. Factors Affecting Inherent Risk: At the level of financial statement Integrity of management; Management’s experience and
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Segments in the Indian Retail Industry | | |[pic][pic| |] | The retailing sector of India can be split into two segments. They are the informal and the formal retailing sector. The informal retailing sector is comprised of small retailers. For this sector‚ it is very difficult to implement the tax laws. There is widespread tax evasion. It is also cumbersome
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experiment to see the concentrations Distilled water To clean out the beakers and conical flasks Funnel To help pour the chemicals into the burette calmly Glass rod To stir the solutions phenolphthalein To use as an indicator Risk assessment Hazard Risk Management Very likely likely possible remote HCL Irritant and can damage eyes Be cautious and wear safety glasses X NAOH Irritant and can cause damage to eyes Be cautious and wear safety glasses X Phenolphthalein Irritant and
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Analytics in Retail Industry Submitted By: Group 7 ROLL NUMBER | NAME | 65 | Vishal Nigam | 57 | Shveta Dang | 48 | Riju Mathew | 38 | Padmanava Gupta | 36 | Nidhi Babbar | 27 | Kavita Chatterjee | Date: 23rd April‚ 2013 Contents 1. Executive Summary 2. Introduction 3.1. Analytics and Retail Industry 3.2. Indian Retail Industry – An overview 3. Prerequisites of Analytical Retail 4. Current Status of Implementation of Analytics in the Retail Industry
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Executive Summary Retail Context for Innovation Study Objectives & Approach Key Learnings from the Innovation Study Implications for Retailers About RAI and Booz & Company The Indian Retail industry is today at cross-roads – many challenges threaten the true potential for “profitable growth” Projected Organized Retail in India US$ Billion 731 116 455 33 422 615 Key Challenges faced by Indian Retailers % responses‚ RAI – Booz Retailers Survey 2013¹ Organized Retail Unorganized Retail Real estate
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