Essay on Example Auditing Case

Include front matter and back matter. Be sure to identify problem, analyze data adequately, and recommend solution (s). Organize your report coherently.

) There was a lack of adequate cut-off procedures to ensure the timely recording of certain period-end accruals. This resulted in an audit adjustment of $3,578,000. The benchmark for overall materiality is $3,508,000, I would consider the audit adjustment of $3,578,000 a material misstatement. Control environment, principle 2 the board of directors and management exercise oversight of development and performance of internal controls. Due to the severity and material weakness of lack of adequate cutoff procedures to ensure timely recording of period end accruals. Management and the board of directors should evaluate performance of internal control activities including adherence to standards of conduct and expected levels of competence. In

Financial statement includes such as balance sheet, income statement and cash flow as well as related statement with them. The financial statement should contain all the formal data of the financial activities of business, person and other entity. Since there are over $10 million expense were only mentioned in prospectus but not in the financial statement, the Financial Report does not include a full set of financial statements.

3. (TCO 1) To design a report you should do all of the following EXCEPT (Points : 5)

Review Exhibits 1 and 2; audit memos G-3, and G-4i and audit schedules G-5, G-6 and G-7. Based on your review, answer each of the following questions:

Weakness: The weakness is that we inputted information that is irrelevant or unnecessary in our first submission. We must be straightforward without information. Don’t fluff the information

In the present day forensic accounting plays a huge role in many of the court cases publicized by the media. With the spotlight on the profession, this is a good opportunity to discuss the following topics:

Evaluate whether the approaches identified in Section 2 above are the most effective for your organisation in the near future (3-5 years), justify any recommendations you make for a different approach (1,043 words)

On the contrary, there were some areas of weaknesses that the tutor suggested that needed corrections such as, the content development, and the organization of the paper. For example, in the content development, he suggested to utilize more specific language

* On the job training is the primary method for employees to learn policies and procedures.

Other requirements consist of (1) addressing the report to the company’s shareholders and management;(2) unifying the format of the report; (3) disclosing the independence of the auditor (4) adding a specific phrase in the required placement.

After reviewing exhibit 7.4.2, list what you regard as the major problems with the Darby appraisal system. Make specific recommendations about changing the system.

2011 Valuation Edition Yearbook.” (Exhibit VIII). We would like further clarification and documentation surrounding this number, and would like to look into other sources that may estimate small stock premiums of this size to compare the appraiser's estimates.

iii. Weaknesses. In what ways would this plan fall short of effectively fulfilling these requirements or criteria?

This report contains the supporting information to perform a full financial status review of our company, before the upcoming government contract bid. This report will cover the possible impacts that occupational fraud and abuse will have on the company, U.S. Governmental oversight of accounting fraud and abuse, and potential corruption schemes within the company.