Nobody downloaded yet

Audit Project - Essay Example

Comments (0) Cite this document
Summary
Firm employee reads and saves articles about issues that may affect critical clients. Which the regulations management rely upon to increase sales of solar-electro. Second article claims that pinnacle lack the knowledge and personnel necessary to perform in solar power engine…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER94.8% of users find it useful
Audit Project
Read TextPreview

Extract of sample
"Audit Project"

Download file to see previous pages 3. New computerized manufacturing equipment that has a stamp “product of Welburn manufacturing, Detroit Michigan”. Under this condition, the fraud risk is significant since there is miscommunication.
4. Pinnacle employees constructed a building because of employee idle and to save time. The controller said there was coordination with the construction company responsible for the addition. The fraud risk under this case is very significant since there might be a coalition between the construction company and the controller.
5. Auto-electro accounts for nearly 15% of the companys account receivable balance and the customer has not made payments for several months. The fraud risk under this case can be very significant because it can lead to lose a lot of money.
6. The directors raised a significant amount of debt to finance the construction of new manufacturing plant for solar-electro division and modification to the property on which the plant will be built. The fraud risk under this circumstance is insignificant since there is approval by directors.
7. Pinnacle president while wearing a golf shirt with the words ‘‘Todd-Machine” and repairmen who repair company own by vice president of Pinnacle. The fraud risk is very significant because it seems the vice president has an interest in two competing companies.
8. Significant turnover in the internal audit department. There was a conclusion that the turnover is only present at the higher level positions. The fraud risk under this case is significant because high turnover is a bad sign
9. While review debt agreements, It several restrictive covenants was identified ,two requirements are to keep the current ratio above 2.0 and debt below 1.0 at all times. This is normal business adjustment, and the fraud risk is insignificant
10. CPA notification that Brian Sioux will be visiting pinnacle facilities to investigate an ongoing dispute between the internal revenue ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Audit Project Essay Example | Topics and Well Written Essays - 1250 words”, n.d.)
Audit Project Essay Example | Topics and Well Written Essays - 1250 words. Retrieved from https://studentshare.org/finance-accounting/1681269-audit-project
(Audit Project Essay Example | Topics and Well Written Essays - 1250 Words)
Audit Project Essay Example | Topics and Well Written Essays - 1250 Words. https://studentshare.org/finance-accounting/1681269-audit-project.
“Audit Project Essay Example | Topics and Well Written Essays - 1250 Words”, n.d. https://studentshare.org/finance-accounting/1681269-audit-project.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document
CHECK THESE SAMPLES - THEY ALSO FIT YOUR TOPIC
I would like to do my Capstone Project/Strategic Audit on the Kodiak Oil & Gas Corp. Kodiak Oil & Gas Corp, has been an innovati
.... The following figure portrays an ideal value chain model. Figure 1: Value Chain Model (Source: Hax, 2009, p.212) As per the above value chain model, each organization should maintain its primary and supporting activities. Based on above value chain model, multiple activities are discussed below in respect of Kodiak Oil & Gas Corp. Kodiak is in oil and gas industry and this industry requires high technological expertise with better infrastructure. Therefore, in order to establish a growth oriented business structure, it has incorporated necessary supporting activities for business improvements. The company has invested huge capital for infrastructural improvements. The following table shows its expenditure for infrastructure in its major...
15 Pages(3750 words)Thesis
Post Project Implementation Audit; Office Move Scenario
...? Post Project Implementation Audit; Office Move Scenario Lecturer: Introduction The office move scenario provides a lesson learning activity to be used in future project of similar nature. The audit serves to evaluate the project goals and achievement. This is measured against the initial project plan, the budget estimates, time schedules, the conformance of deliverables to specifications and customer satisfaction. Project goals. Was the project goal achieved? This serves to ask whether the project goals were achieved. The goal of this project was to transfer the branch...
3 Pages(750 words)Coursework
Audit
...?Audit Table of Contents Introduction 3 A Brief Perception on the Purpose of the External Audit Report 3 A Brief Explanation about How and Why the Wording has Evolved in the External Audit Report 4 A Critical Appraisal of the IAASB’s Proposals, Possible Alternatives and Expected Reaction from Stakeholders 6 A Critical Discussion and Comment on Possible Future Developments In Relation To Audit Reporting 7 8 Conclusion and Recommendations 9 References 10 Bibliography 12 Introduction The ‘International Auditing and Assurance Standard Board (IAASB)’ was formed in the year 1978 and formerly it was known as ‘International Auditing Practices Committee (IAPC)’. In the year 1991, the different principles of IAPC principles were recodified... as...
6 Pages(1500 words)Essay
Audit
...?AUDIT REPORT FOR LITTLE DIGGERS Ltd I) The key audit risks to the audit for Little Diggers Ltd  It is d that all audit work entail some risk; this may be because of a set of company accounts having been misstated due to a mistake or fraud, or when an auditor unsuccessfully detects errors or fraud in accounts. Audit risk is the risk that the auditors may unintentionally fail to adjust their analysis on financial accounts that are greatly misstated. The following are the risks that Little Diggers Ltd is subject to. Inherent risk This is the likelihood of material misstatement of a claim before taking into consideration the client’s internal control....
8 Pages(2000 words)Case Study
Strategic Audit Project: SWOT Analysis
...Strategic Audit Project: SWOT Analysis SWOT Analysis In order to evaluate the internal business factors, it is vital to understand the strengths along with weaknesses and opportunities as well as threats of an organization. Thus, in this regard, the SWOT analysis of AuroraHealthcare /Aurora Vision Center has been presented in the following for comprehending its varied internal business aspects. Strengths Leadership. One key strength of Aurora Healthcare is its leadership. Aurora has established numerous councils in order to deliver proper care and effective clinical operations to the patients. These councils perform varied functions collaboratively with senior management team and share best practices...
2 Pages(500 words)Research Paper
Audit
... Audit Introduction In April 2014 the European Parliament has voted for bringing mandatory auditor rotation into the EU region. This initiative implies that European-listed companies, financial institutions, and banks will have to hire new auditors every 10 to 24 years. Appointment of a new auditor every decade can be extended in cases when companies appoint another audit firm to do a joint-audit or initiate bidding process at the 10-years mark (Chasan 2014). While the rules of mandatory auditor rotation were also initiated in the U.S by the 2002 Sarbanes-Oxley Act, Europe’s restrictions would be tougher. Even though the U.S. companies will not have to adhere to the new EU rules, the...
8 Pages(2000 words)Essay
Capstone Experience (Preliminary Strategic Audit) Course Project step 3/ 2
...Sony Strategic Audit Executive summary Sony Corporation has been successful over the few decades and has employed innovation to make billions in the electronic domain. In this papers introduction, the company’s good business strategy has so far factored in its value proposition, market position and competitive advantage. The paper will employ the Porter Five Forces and the PEST analysis, where the strengths and the weaknesses of the company are realized. For instance, in the porter five forces the risk of new entrances where, the company faces completion from other brands is one of the issues that affects it business strategy. When it comes to pest and look at the political aspect: Tax diminishment in EU nations will influence... histories....
7 Pages(1750 words)Assignment
Project Plan Audit
...Project Plan Audit al Affiliation Project Plan Audit California Technical Corporation is taking a massive project of making 7/8 Scale Ansari X Gauchito Rocket. To ensure the project goes as expected, the management and the team leader must outline a clear course of action by including the all the necessary details that will be required. To start off, the management introduces the project description and the scope. This is expected to give a highlight to the level of the work, costs involved and the time frame required to see the project through. The project will require the personnel to...
2 Pages(500 words)Coursework
Auditing - project ( Audit of the acquisition and payment cycle : Tests of controls and substantive tests of transactions. )
...Audit of Acquisition and Payment Cycle of Introduction This paper explains in detail the substantive tests and procedures that are carried out to establish whether the internal controls in practice are effective or not. In the case of the contrast, the paper highlights the correct measures necessary to correct the flaw. Also, it aims at providing the procedures both substantive tests like analytical review procedures that help to gather enough evidence for making a good audit opinion. Apart from that, tests of controls may be used like observation, enquiry and confirmation, inspection and even arithmetic recalculation and performance. They help to provide sufficient evidence on the effectiveness of any of...
7 Pages(1750 words)Assignment
Audit
...AUDIT Introduction In order to have an appropriate basis upon which an opinion will be expressed in regard to the financial statements, an auditor is required to plan his audit work well and implement it in order to obtain a reasonable assurance whether or not the financial statements are free of any material misstatement arising from errors or fraud. According to the Public Company Accounting Oversight Board’s (2015) findings, the reasonable assurance is obtained by an auditor by reducing the audit risk to an appropriately low level. The auditor achieves this by applying due professional care in addition to obtaining sufficient audit evidence. In the course of the...
6 Pages(1500 words)Assignment
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Let us find you another Essay on topic Audit Project for FREE!
Contact Us