al audit department for the first time and he is looking for some guidance as to what is required for an effective internal audit department. Required: Explain the key considerations Ahsan Suleman should consider when setting up an

How can a financial auditor use the following topic in his future work? Analyze the roles of the parties that contribute to corporate governance, recognizing that each has its own internal governance structures Evaluate the prescribed roles and responsibilities of the parties involved in corporate governance against their real-world manifestation Recognize both the motivations of and temptations faced by those involved in the governance process and evaluate them against processes and controls aimed towards ensuring ethical behavior and transparent, high-quality reporting. Distinguish form from substance as it relates to parties exercising control over an entity and learn to apply this knowledge when evaluating a variety of different accounting and auditing matters Dissect elements of certain seminal accounting and auditing events in order to evaluate their effect on the corporate governance landscape.

Look at the following descriptions of how management, the auditor and the audit committee (or board of directors) interact with one another.  Choose the one that best describes the interactions. a) Management works closely with the Board of Directors. Included amongst Management's duties is the hiring of Independent Auditors   b)The Board of Directors is all knowing and all seeing. They employ Management as their Agent to run the company.  Their monthly Board meetings suffice to satisfy them that Management is performing in the Shareholders' interest.   c) Agency theory explains many things including why Management hires Independent Auditors to audit the financial statements   d) Shareholders select a Board of Directors to oversee the Shareholders' business. The Board of Directors hire Management to run the day to day operations of the business. The Board of Directors hire Agents to assist it in monitoring Management. Amongst these Agents is the independent auditor.

1. Johnson & Johnson CPAs, is considering accepting an engagement to perform an audit for a new client, whose prior period financial statements had been audited by another CPA. Johnson & Johnson would like to make certain that they understand the auditor's objective in conducting an initial audit engagement. Which title of Professional Standards addresses this issue , and, will be helpful in understanding the auditor's objectives in conducting an initial audit engagement? Enter the exact section and paragraph with helpful information.

If you were given the task of creating a Corporate Code of Ethics.  What are some of the items that you would include?  Feel free to research corporate websites and view existing corporate code of ethic's reports.  Required: Please respond by including at least five items that you would include in your new Corporate code of Ethics.

I need the answer as soon as possible

Are there key areas that seem to be missing from any current auditing processes? Be sure to provide examples.

Identify the drivers of audit quality as specified by the Financial Reporting Council's Audit Quality Framework.  Please use the illustration below to help you answer the question.

An employee of which of the following companies would likely serve as an internal auditor? PwC EY Coca-Cola Deloitte

Steve Ankenbrandt, president of Beeb Corporation, has been discussing the company’s internal operations with the presidents of several other multidivision companies. Ankenbrandt discovered that most of them have an internal audit staff. The activities of the staffs at other companies include financial audits, operational audits, and sometimes compliance audits.   Required: Describe the meaning of the following terms as they relate to the internal auditing function: a. Financial auditing.       b. Operational auditing.       c. Compliance auditing.