VINAND PETROLEUM CASE Financial statements could be examined with varied degrees‚ as part of the client acceptance procedures Paige CPA got to perform a horizontal and vertical analysis‚ and financial ratio analysis of Vinand Petroleum financial statements. These procedures are not as in depth as other procedures used by auditors on financial statements‚ but these procedures may show areas of concern for auditors. From 2006 to 2007‚ Vinand’s long term debt tripled and its interest expense paid for
Premium Financial audit Audit Auditing
specilSpecialised audit services SECTION 2: SPECIALISED AUDIT SERVICES 2003-04 This section of the report includes information on audits conducted over and above the regularity audits. These include the following: • Forensic audits • Performance audits • Integrated audits • Performance information reviews For an explanation of each type of audit‚ please refer to my 2003-04 Activity Report. It is important to highlight that some of the forensic and performance audits result in a report to management
Premium Audit Auditor's report Auditing
| | |Ann Inc.: Audit Risk Analysis | | | |
Premium Revenue Board of directors Balance sheet
Chesapeake Petroleum & Supply Inc. operates as a distributor of automotive lubricants and other related products in the Mid-Atlantic region. It offers bulk and packaged oils‚ filters‚ anti-freezes‚ wiping materials‚ lubrication equipment‚ refrigerants‚ disposable wipers and absorbent pads‚ sealants‚ wiper blades‚ reconditioning and car wash chemicals‚ floor mats and seat covers‚ aerosols‚ ECP protective coatings‚ wheel weights‚ hydraulic fluids‚ and diesel fuel supplements (Company Overview). The
Premium Fraud Cash Chief financial officer
Print Form 00-1 2009 General Audit Engagement Checklist 20‚401 Section 20‚400 General Audit Engagement Checklist Checklist for Review of Audit Engagements Contents Section I. The Auditor’s Report With Regard to the Auditor’s Report............................................................................................... II. General Audit Procedures With Regard to Client Acceptance .................................................................................................. With Regard
Premium Audit Auditing Financial statements
EXAMPLE AUDIT ENGAGEMENT LETTER This example engagement letter is intended solely for general educational purposes. It is not intended for the purpose of providing specific legal‚ accounting‚ or other professional advice to any particular recipient or with respect to any particular jurisdiction. The author‚ publisher‚ and distributor of this document (1) make no representations‚ warranties‚ or guarantees as to its technical accuracy or compliance with any law ( federal‚ state‚ or local) or professional
Premium Balance sheet Financial statements Internal control
ADEYEMI G.A OMEGA 2013 The petroleum industry has evolved over the years to become a gigantic industry. Personnel in the areas of sciences & applied sciences are required: • Petroleum engineers • Mechanical engineers • Chemical engineers • Electrical engineers • Computer scientists • Physicists • Chemists • Marine biologists & • Geologists engineers • Others There 2 broad classifications of global petroleum industry: • National Oil Companies (NOC)
Premium Petroleum
PETROLEUM I. HISTORY The petroleum industry includes the global processes of exploration‚ extraction‚ refining‚ transporting (often by oil tankers and pipelines)‚ and marketing petroleum products. Petroleum in an unrefined state has been utilized by humans for over 5000 years. Oil in general has been used since early human history to keep fires ablaze‚ and also for warfare. The largest volume products of the industry are fuel oil and gasoline (petrol). Petroleum is also the raw material for many
Premium Petroleum
INTERNATIONAL STANDARD ON AUDITING 320 AUDIT MATERIALITY (This Standard is effective‚ but contains conforming amendments that become effective at a future date)* CONTENTS Paragraph Introduction ................................................................................................... Materiality ..................................................................................................... The Relationship Between Materiality and Audit Risk ................................. Evaluating
Premium Auditing Financial audit Financial statements
CHAPTER 17 COMPLETING THE AUDIT ENGAGEMENT Answers to Review Questions 17-1 A contingent liability is defined as an existing condition‚ situation‚ or set of circumstances involving uncertainty as to possible loss to an entity that ultimately will be resolved when some future event occurs or fails to occur. FASB ASC Topic 450‚ “Contingencies‚” classifies uncertainties into three categories: 1. Probable: The future event is likely to occur. 2. Reasonably possible: The chance of the future
Premium Auditing Financial statements Balance sheet