Essays on Audit

Financial Auditing in Firms in United States
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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
Words • 419
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
Words • 532
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 Assertion That Auditors Will Probably Emphasize In The Revenue And Collection Cycle Is:
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Pages • 9
The sample essay on The Assertion That Auditors Will Probably Emphasize In The Revenue And Collection Cycle Is: deals with a framework of research-based facts, approaches and arguments concerning this theme. To see the essay's introduction, body paragraphs and conclusion, read on.Chapter 7 Overall Audit Approach for the Revenue and Collection Cycle * Audit risk- the risk that auditors will issue and unqualified opinion on financial statements that contain a material misstatement * Inherent risk and control risk * 3…...
Phar Mor Fraud Case Analysis
Words • 1963
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…...
Revenue Recognition Fraud: Methods and Reason
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Pages • 5
In today’s corporate arena, fraud has taken its seat among the top priorities of those who make policies and set standards. The majority of large-scale fraud is perpetrated by the improper recognition of company revenues and is, in practice, generally simple. Revenue recognition fraud can be carried out by keeping the books open past the end of the accounting period, recording consignment goods as sales, improper bill-and-hold transactions, failure to record offsetting accruals, and many other methods that boost earnings.…...
AccountingAccounting EthicsAuditEconomyEthicsFinance
What Did Arthur Andersen Contribute To The Enron Disaster
Words • 1123
Pages • 5
The following academic paper highlights the up-to-date issues and questions of What Did Arthur Andersen Contribute To The Enron Disaster. This sample provides just some ideas on how this topic can be analyzed and discussed. Ethics in Accounting and Auditing Name: Date: What Did Arthur Andersen Contribute To The Enron Disaster Ethics in Accounting and Auditing Arthur Anderson was an accounting professor who was a co-founder of Arthur Anderson LLP (AA). It was one of largest and most respected firms…...
AccountingAuditBusinessCorporationEnronEnron Scandal
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…...
Zzzz Best Case
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Pages • 6
This sample essay on Zzzz Best Case 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.Auditing Concepts ZZZZ Best Company, Inc Case Solutions: 1. A review is performed to obtain a reasonable basis for providing limited assurance that the client’s financial statements have been prepared in conformity with generally accepted accounting principles. An independent audit is designed to provide a reasonable basis for…...
This Sample Paper on JB Fay Company
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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
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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
Gaas Audit
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Pages • 4
I chose Section 200 – General Standards Accounting Principles, better known as Generally Accepted Auditing Standards ( GAAS ) . They were developed by the AICPA in 1947 and have undergone minor alterations since so. ( 4 ) These are sets of regulations and guidelines promulgated by the AICPA ‘s Auditing Standards Board. ( 1 ) Its auditing criterions place necessary making and features of hearers and steer the behavior of the audit scrutiny. [ ( 2 ) p.39 ]…...
Me as Change Leader
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The following sample essay on "Me as Change Leader" is a self-portrait. And it has a job description, career analysis and development plan. When I am at my best I bring out the charm that best highlights my strong interpersonal traits. Often many people have a notion that accounting is all about looking at numbers, paperwork and sitting quietly behind a desk and therefore no need to use your conversational skills. That is actually a very wrong perception of this…...
The Enron Case and Its Outcome
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Pages • 3
The following sample essay on "The Enron Case and Its Outcome" examines the aftermath of this scandal. In addition, there will be conclusions from this story. Enron case stun as it was viewed as the greatest outrage and insolvency case ever of US . Because of this scandal coming up next are its outcomes: UnEmplyment : the organization's liquidation, a large number of its representatives got themselves jobless, and lost billions from their annuities. Debt-to partners: Enron's obligation to its…...
AccountingAuditEnronEnron Scandal
Audit Expectation Gap
Words • 3288
Pages • 14
The study investigates the existence of audit expectation gap in relation to society’s unreasonable expectations out of auditing in Bangladesh. This also identified the effects of auditing knowledge on the gap. Among all the classes of our society the accounting graduates are expected to have more knowledge on auditing, who represented 60% proxy of the users.For the purpose of the study, the four groups who are chosen as sample users are: (1) General investors (naive) (2) Students not completing any…...
AccountingAuditFinanceFinancial StatementManagement
Sarbanes-Oxley Act
Words • 317
Pages • 2
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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Pages • 20
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
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Pages • 14
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
Words • 2344
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…...
Maybank S Core Values As Organization Values Accounting Essay
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Pages • 10
Introduction Khoo Teck Puat went to work for OCBC, get downing his calling as a simple bank clerk. By the 1950s, Khoo had risen to a place of senior executive. By the terminal of the decennary, nevertheless, Khoo recognized that his chances at OCBC remained limited. Given the deficiency of farther promotion unfastened to him at OCBC, every bit good as what he considered the company 's narrow position on its hereafter, Khoo decided to put up his ain bank…...
AccountingAuditBusinessInternal ControlLifePersonality
A Brief History Of Internal Auditing In Mauritius Accounting
Words • 1294
Pages • 6
Nowadays, it is going progressively hard to disregard the construct of Internal Audit in the concern universe. Among the well known definitions of IA, there is the Institute of Internal Auditors ( IIA ) ( 2009 ) which defined it as: `` An independent, nonsubjective confidence and consulting activity designed to add value and better an organisation 's operations. It helps an organisation carry through its aims by conveying a systematic, disciplined attack to measure and better the effectivity of…...
Most Important Macro Environment Factors In Qantas Tourism Essay
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Pages • 9
Corporate scheme of Qantas has been back uping all its concern aims and besides employee degree single aims so that the company produces better consequences for the satisfaction of clients. Airline industry is a immense topographic point where different companies are working and if planning and strategic determinations do non run into the demands of the current environment of the concern than it would be bad for the company. Selling and Auditing are the cardinal countries where the strategic determinations…...
AirlineAuditBehaviorConsumer BehaviourEconomyEnvironment
Auditor's Independence Case Study
Words • 10765
Pages • 44
A series of financial scandals revealed a key weakness in the American business model: the failure of the U. S. auditing system to deliver true independence. We offer a two-tiered analysis of what went wrong. At the more micro tier, we advance moral seduction theory, explaining why professionals are often unaware of how morally compromised they have become by conflicts of interest. At the more macro tier, we offer issue-cycle theory, explaining why conflicts of interest of the sort that…...
AccountingAuditBiasFinancial StatementInternal Control
Corporate Governance in Malaysia
Words • 2406
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 Did Arthur Andersen Contribute To The Enron Disaster
...6. The benefit is that any crimes committed by a person in the said occupation are punishable by law. Its drawback is that it does not specify what is considered as an occupation in the law. Most occupational crimes include corruption and money laund...
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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