Essays on Audit

Financial Auditing in Firms in United States
Words • 677
Pages • 3
We precociously consume the risk we reduce. Just as advanced automotive safety technology makes for worse drivers*, the prevalence of government mandated auditors in the financial system has allowed us as investors to engage in riskier behavior than we would dare do otherwise. After all, apart from the few of us who are formally schooled in finance, who really glances at a 10-K Earnings Statement? Who reads the Fund Flyers? Who really has any idea where the money in the…...
An Introduction to the Relationship Between Governance and Internal Auditing
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Pages • 2
This study examines the correlation between corporate governance and internal auditing. The study also examines the value of internal auditing to an organization and if it should be done away with. It is a hypothesis in the study that internal auditing is an independent profession different from external audit. Evidence shows that internal auditing has in the recent past assumed the status of a full-fledged profession that is very distinct from external auditing. Next, we find that auditors charge high…...
An Overview of Generally Accepted Auditing Standards
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Pages • 3
April 10, 1996 Generally Accepted Auditing Standards are those guidelines which auditors must adhere to while conducting an audit of a company's or government entity's financial statements. It must also be stated in the audit report that the audit was conducted following Generally Accepted Auditing Standards. This has been required since 1941 after the investigation of a large drug company, McKesson & Robbins, Inc., which had had funds embezzled by its president and his three brothers. Neither the internal controls…...
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The Importance and Need for Auditing in a Business
Words • 262
Pages • 2
An audit is the gathering and evaluation of evidence in regards to information used to determine and report on the degree of correspondence between information and any criteria that has been established. Criteria for evaluating information is also dependent on what kind of information is being evaluated; when a CPA firm audits a company, GAAP or IFRS may be used, but when being audited by the IRS the criteria would be the Internal Revenue Code (Arens, Elder, & Beasley, 2014…...
The Impact of Blockchain Technology on the Audit Industry
Words • 1916
Pages • 8
Abstract This paper explores the impact that blockchain technology has on the auditing industry by analyzing how current audit procedures measure up to the abilities of blockchain. As a result of this technology, this paper further examines the necessary technological advancements and the roles that accountants will play in the future. Top players in the industry such as the Big Four accounting firms and the AICPA were evaluated as to their participation and forecasts in regards to blockchain. Research has…...
Can Double Entry Principle be Replaced by Blockchain?
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Pages • 2
A limited amount of academic research that has been conducted on the subject matter rarely mentioned the views to replace the double-entry principle with blockchain. It is pertinent to say that whatever emerges from the blockchain revolution, it is obvious that it played a significant role in the accounting and auditing profession, and could progress faster than expected. Moving accounting from a centuries-old double-entry system to an automated triple-entry system could mean a massive shift for all parties concerned with…...
Audit History and Modern Standards
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Pages • 4
Part 1 Internal auditing has been around since pretty much the beginning of time. According to Noorah Al ShamsiShamsi's article titled “A Brief History about Internal Audit Practice”, different reigns of time such as the Zhao dynasty of China and the reign of calif Omer bin Al Khattab established internal and external auditing for use of the cities that were under their command. (Al Shamsi, 2018) Our textbook mention that the beginning of modern internal auditing was implemented by the…...
Authentication, Authorization, and Auditing
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Pages • 2
In the information systems authentication, authorization and auditing reflect the main pillars of the information security of the organization. As each of these parameters is very important, it will be described individually as follows, Authentication Authentication is a gateway to recognizing a user’s identity. It is a process associated with an upcoming request having a set of identifying credentials (Killian, 2017). When someone logs into the system, the credentials are compared to those existing in the system and authorized the…...
Phar Mor Fraud Case Analysis
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Pages • 8
The essay sample on Phar Mor Fraud dwells on its problems, providing shortened but comprehensive overview of basic facts and arguments related to it. To read the essay, scroll down. In 1981, Giant Eagle acquired the Monus family grocery store run by Michael “Mickey” Monus. David Shapira, CEO of Giant Eagle, became familiar with the Monus family and was somewhat intrigued with Mickey’s talent as a hard bargainer and master retailer. In late 1982, Mickey and David decided to open…...
Role of Ethics Audit in a Company
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Pages • 6
This sample essay on Ethics Audit provides important aspects of the issue and arguments for and against as well as the needed facts. Read on this essay's introduction, body paragraphs, and conclusion. Ethics Auditing: Identify the benefits and limits of ethics auditing. Is there a strategic role that ethics auditing may play in a company? Ethics Auditing By definition, an ethics audit is a “systematic evaluation of an organization’s ethics program and/or performance to determine its effectiveness. ” (1) This…...
This Sample Paper on JB Fay Company
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Pages • 3
After reexamining the common size fiscal statements and the cardinal ratios of Leslie Fay. there some of the fiscal statement point that should hold been of peculiar involvement to BDO Seidman: Gross saless: the gross revenues has been turning steadily except the little bead in 1991. which is contrary to the industry recession. 2 Inventory: Leslie Fay has been known for non catching up the manner. there should be inventory write-off issue in the dress industry. which haven’t been reflected…...
Computer Risks and Exposures
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Pages • 6
The essay sample on Computer Risk dwells on its problems, providing a shortened but comprehensive overview of basic facts and arguments related to it. To read the essay, scroll down. Computer Risks and Exposures Computers of all kinds within an organisation are constantly faced with a variety of risks and exposures. It is helpful if we first define these terms: Computer risk Probability that an undesirable event could turn into a loss Computer exposure Results from a threat from an…...
AuditInternal ControlInterviewManagementRisk
Ethical Dilemma Case Analysis
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Pages • 5
People find it easier to cheat what is received as a large, faceless entity like a corporation or the government than to cheat a friend or acquaintance, experts say. Games, 2002) Ethics is so important within our society that most ethical values have been integrated into the laws of our land. Society has to have ethical behavior in order to keep the supportive order that has been set. An ethical dilemma is a situation in which a decision must be…...
AuditEthical DilemmaEthicsPersonalityReasonResearch
Safeguarding Of Assets
Words • 1054
Pages • 5
Internal auditors should review the means of safeguarding assets and, as appropriate, verify the existence of such assets Safeguarding of assets is those policies and procedures that “provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of the company’s assets that could have a material effect on the financial statements. This definition is consistent with the definition provided in the Committee of Sponsoring Organizations (COSO), Reporting to External Parties, which provides the following definition of…...
AuditEconomyInternal ControlManagement
Accounting Report Provisions for Restructuring
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Pages • 2
In the financial report, Burns Philp, at the time of each acquisition, created a “provision” for rationalization. When restructuring cost was subsequently incurred, related expense was written off against the “provision” until the provisions were exhausted and, then, the expense was directly charged against the annual profit. This aggressive accounting treatment gave rise to problems as high restructure costs increased asset value in financial reporting despite uncertainty about the realization of the benefit in future. A slotting fee is an…...
AuditEconomyFinanceFinancial StatementRisk
Sarbanes-Oxley Act
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The following sample essay on "Sarbanes-Oxley Act": brief information about the law. Sarbanes-Oxley Act, signed into law by President George Bush on June 30, 2002, was crafted in order to improve securities legislature and to strengthen the requirements of audit checks. The act appeared in response to a string of corporate scandals and was meant as a reaction to these scandals. The article “Private Companies Feel Effects of Sarbanes-Oxley” by Thomas Hoffman concentrates on the effect the implementation of the…...
Hindustan Shipyard Apprenticeship
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Board of Directors Chairman's Address Notice Directors’ Report Comment of the Controller and Auditor General of India Auditors' Report Balance Sheet Profit & Loss Account Schedules to the Accounts Notes Forming Part of Accounts Balance Sheet Abstact & Company's General Business Profile Cash Flow Statement Social Overheads Last ten years at a Glance Ships Built 1 3 6 10 21 28 33 34 35 45 59 60 61 63 65 Front Page Back Page : "M. V. Good Pride" 53,000…...
AuditCorporate Social ResponsibilityEmploymentHospitalNavy
Broadway Cafe Cohesion Case System
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Pages • 8
Ryals Public Sector Interview Strayer University September 12, 2010 Public Sector Interview Name: Stephen Brannon Position: Supervisor Organization: Michigan Department of Correction Role: To supervise employees to ensure they are providing the public with safety. I selected Stephen Brannon to interview for my Public Sector assignment. Mr. Brannon is a supervisor at Michigan Department of Correction-Outer District. This government organization is responsible for providing public safety to the citizens by supervising convicted felons that have been placed on parole/probation for…...
AuditEmploymentJusticeLawSexual Harassment
corporate and business law
Words • 3277
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corporate and business law BY etu20110952 GASPARD vjrgile LAFITTE Pierre AC504E External auditing Take home case Pacific Sunwear of California Inc Executive summary ??” 3 The Sarbanes Oxley act: a compliance plan 4 Overview: 4 Summary of the Sarbanes-Oxley 4 The Sarbanes-Oxley act: ??” 404: Checklist: 5 Auditing standards n05: description of the procedures to comply with the section 5 International standards of auditing in reference with the 6 Processes to comply with the Section case...................................................... How to comply with…...
AuditBusiness LawEconomyFinanceFinancial StatementLaw
Case Study analysis of Satyam scandal
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Pages • 4
This paper is a case study analysis about Satyam Computer services. This case study analysis will identify key facts about the case in question and outline the problems within the case study, it will than conclude with solutions or recommendations to the problems stated backed up by Management theory. Satyam is a Nasdaq listed company and a major player in the global IT service industry. The chairman of Satyam is Ramalinga Raju. The Satyam case that broke out in early 2009…...
AuditCase StudyCorporate Social ResponsibilityCorruptionEducationEthics
What Happened in Enron
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Pages • 10
What happened In Enron and Arthur Andersen? United States' seventh largest company Enron, with the slogan "Ask Why" was admired for Its innovation, but it all ended up In bankruptcy and criminal matters. The company filed for bankruptcy in December 2001. This was one of the world's biggest corporate scandals In history. Aqua's seventh largest firm had In over sixteen years increased its assets from 10 billion to 70 billion US. Dollars, and was by the stock market analysts from…...
Corporate Governance in Malaysia
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Pages • 10
Corporate Governance is a concept in which it has been existence for decades; although not in the exact form that it has come to be understood today (Anandarajah, 2001). The term corporate governance was introduced in Malaysia in 1997 during the Asian Financial Crisis. It also drew the public’s attention on the weaknesses of the Malaysian corporate governance practice (Nor Azizah Zainal Abidin, 2007). Besides that, the downfall of Sime Bank, the Bumiputera Malaysian Finance (BMF) scandal, the irregularities in…...
AuditCorporate GovernanceEconomyFinancial StatementPolicy
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FAQ about Audit

What Happened in Enron
...The most important lesson would be that the relentless pursuit for profit is a major issue in our economic model. It can easily get out of control and people will get hurt. Additionally, regulations concerning subsidiaries and corporate spin-offs sho...
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