Audit : Page - 5

Inherent RiskDiscuss about the Strategic and Operational Risks. In the current business domain, every business concentrates to gain higher competitive advantages from its initial stage, which in certain circumstances, lead them towards unfavorable or unexpected situations. This in turn might cause to excessive cash outflow, fraud, crime, vandalism, inefficiency in management among others. Apart from this, this kind of situations might...

Involvement of the AuditDescribe about the Content Audit or Inventory for Public Money. In large listed companies, public money is involved and so it is necessary that the financial information presented to the stakeholders is free from any material misstatements. An audit serves as a check on the compliance and includes areas like quality management and secretarial due diligence. The audit provides a fair opportunity for the evaluation o...

Section 1: Organizational OverviewDiscuss about the Challenging and Competitive Business Era. For this research paper, I would like to select Toowoomba chamber of commerce as a research organization. In this paper, I will design a marking audit for the selected organization. It is because of a marketing audit is very essential for the success and growth of the business organization. The marketing audit also plays a significant role in ord...

Question: Write a report on Client Risk Profile.   Answer: We have been appointed as an auditor of Performance Sports Group Ltd for the year ended May 31, 2016. In order to express an opinion on the true & fair view of the financial statements, it is the prerequisite to have an understanding of the internal and external environment of the business entity under the audit. Performance Sports Group Ltd. is a top manufacturer of spo...

Who could be an Auditor?Discuss about the case study Audit Analysis for Government Regulations. An audit of a company involves an overview of financial records to ensure that they are in compliance with the government regulations and that they are no cases of fraud. The purchases of products and business transactions are checked and the books of records are reviewed. The audit is carried out at a specific time and it ensures that the ...

Ethics and Organizational Ethics: ConceptDiscuss about the Ethics in the Organization.  The ethics in organization refers to a way of working in the organization ethically. In other words, it refers to working in the enterprises by considering social norms and corporate culture that is by behaving ethically and use of ethical practices. Disdain the several theories on ethics that have been created still there is no surety about ...

DiscussionDiscuss about the Foundations in Accounting for Pros and Cons for investors . The following assignment report is based on the two companies of Australia, Westpac Banking Corporation and BP Australia Limited presenting the understanding the conceptual framework for reporting organizations within the Australia. The report provides the explanation and requirements of Australian Accounting Standards Board (AASB) 1053 and Statement o...

Discuss about the Nature of the Audit Evidence. Audit evidence can be referred as the evidences, which are collected during various stages of an audit program and duly documented in the audit working papers. The nature of the audit evidence uses to vary with different stages of auditing . In the audit planning stage, auditors use to consider those information as the audit evidence, which can be regarded as the most useful and compete...

Case Study 1 - Developing Substantive Procedures to Test AccuracyQuestions:As a result of work undertaken during the planning stage and audit evidence collected for the tests of controls stages of the audit, Robert Smith has determined that there is a low risk of material misstatement (low inherent and control risk) for the following account balances: Wages and salaries Electricity Repairs and maintenance Due to the expected reliability ...

Sustainable Practices in the Banking IndustryQuestion:Identify sustainable practices in an industry, country or region. Take the same steps as in Assessment 2 (below) except apply them to a broader context. 1. Select an organisation that you can easily access information about.2. Identify its sustainable practices – these may be human, physical environmental or other.3. Discuss them in detail.4. Comment on their value to the organisation a...