Aat Project Based on the Internal Control of Cookridge Carpets Ltd

Auditors have the responsibilities as well as management to report internal controls. The auditors must examine closely management’s claim of effectiveness and also physically test the controls. After the examination, the auditors should express their opinion and any recommendations to fix any internal control weaknesses.

Auditors should always evaluate the design and test the operating effectiveness of a company’s internal control. The key procedures of the evaluation of design are fulfilled by inquires, observations, and inspections. The same procedures can be used to test the operating effectiveness as well.

Weekly meetings among division heads to discuss operational predicaments and setbacks are an example of an internal objective that may possibly be implemented for the benefit of the organization (Recruitment goals for seasonal staff are an example of an external objective of a company). By following this course of action, it becomes possible to determine the changes that need to take place within the organization by reviewing the business plans, goals, missions and objectives and it is the initial step towards building a fresh organization structure. In addition, it would be beneficial if the organization uses a wide span of control within the company. This basically means that every department head is expected to report to the general manager which in turns ensures a well-organized chain of command in the company’s structure. As the organization grows the number of divisional managers’ increase, as does it result in a lengthier chain of command, but by implementing a system of wide span control within the company there would undoubtedly be efficient organization within the company. It is also very important that the various departments within the organization’s responsibilities are clearly defined. Since the organization Asos.com is an online fashion store, high quality customer service is primarily very essential. In order to ensure customer satisfaction, it would

Professional scepticism is an attitude which is adopted by an auditor to conduct the audit. The auditor needs to maintain a questioning mind and seek independent evidence to corroborate information provided by client. In the aspect of professional judgement, an auditor uses the level of expertise, knowledge and training to conduct an audit. The auditor should judge the information source’s reliability and the evidence’s sufficiency. Due care means that auditor needs to apply standards and document each stage of the audit process when conducting an audit. In the case of Kleenmaid, the auditor needs to adopt an attitude of professional scepticism to recognize the possibility that a material misstatement could exist because of fraud. They must remain independent of their client and search for evidence thoroughly to validate information provided by Kleenmaid’s board of directors. Furthermore, the auditor has the responsibility to assess the risk of fraud by considering the incentives and pressures, and opportunities to perpetrate a fraud, and attitudes and rationalisation to justify a fraud. In the case, Kleenmaid had debts of nearly $100 million in 2009, which is the significant incentive or pressure considered by the auditor to commit a fraud. In addition, Kleenmaid operated as an importer and distributor of whitegoods, with 22 outlets, 15 franchises, and 22 staffs. This means the company will have a high volume of

Amid this week, "I have been hired as a consulant by the nearby chairman to outwardly analyze the sundry business structures. My part is to give dissection and answers to these principal inquiries that will profit the chairman comprehend the structures of a number of the organizations in his city." With a specific end goal to short the leader, I was given the errand to examine the different business structures and qualities of every that will be examined in incredible detail alongside samples of the sundry business structures. Different focuses that will be examined are: " true life case of the business sector structure in the leader 's city, high ingression hindrances into a market, the aggressive weights that are available, the value

The responsibility of this report is to show an opinion on these financial statements based on the audit for K&S Corporation Group. The audit report complied with the standards issued by the Auditing and Assurance Standards Board (AUASB). The standards comply with ethical requirements in order to plan and make a conclusion for assurance.

The report covers evaluation of accounting systems for improvement of Chic Paints Ltd (CPL), regarding particular reference to internal controls, ethical consideration and the prevention methods of fraud. Based on the above, the report gives recommendations on improvement to the Accounts weak areas and a cost benefit analysis for the new working methods offered.

The second part discusses the evaluations and comparisons of the business ethics and business norms/practices in both the organizations. It describes in detail, their customer care services and behavior towards the employees of the company and their attitude towards the environment.

Auditing is the efficient critical examination done by one person or group of people’s independent from the system audited. To do an audit, confirmed information must be present and some standards by which the auditor can evaluate the information. Another is gathering and evaluating any information to determine whether the information being audited is identified in accordance with establish criteria to satisfy the purpose of the audit and also auditors must be competent to identify the types and amount of evidence to accumulate to reach the correct conclusion after the evidence has been examined and finally the preparation of the audit report, which is the communication of the auditor’s findings

As long as there are opportunities, there are fraudsters. The crucial commitment of a company is to try to prevent a potential fraud, rather than recovering the losses after its occurrence. And in order for such risks to be eliminated or reduced to the least, effective and efficient information systems and internal control systems must be in place. The following report is going to be based on the new sales and sales returns system that will be implemented in Karla Kay plc, identifying and addressing its principal risks using an effective internal control system. Then, a description of the work that KK’s external auditors will have to undertake in respect of the internal controls of the new sales system and the new sales

Auditors have to face internal managers of the companies and the CPAS in companies, so that auditors have to enhance their professional judgment. Content of professional judgment include: 1) the importance indicators in the audit, 2) main objectives and conclusions of fraud audit, 3) efforts in internal control, 4) the trustworthiness of the internal control system, 5) the choice of the appropriate audit procedures and determine in the company 's financial statements whether properly and fairly reflect the current operating situation.

A business can not work out without an account system, which includes internal. Internal controls are used by companies to make sure financial information is accurate and valid. Strong internal controls are signs of a financially healthy company and protect the company’s integrity. Strong internal controls can also increase a company’s profitability. There are several types of internal controls that companies used to protect themselves such as: Segregation of duties, asset purchases, supervisor review, internal audits and adequate documents and records. This paper will discuss several topics from a case study about And the Fraud

In audit of Elementary Plc group, the audit risks from the information provided will be on gathering substantial information on the entire company considering it has subsidiaries. The main challenge is that audits of the subsidiaries are carried out by other independent auditors. Establishing the amount of work that the subsidiary auditors have done will mean inspecting all their work. While Tomos, the chief financial officer has resigned on personal grounds,

The main purpose of this thesis is to understand how auditing contributes to the achievement of corporate goals. To make this possible we must understand the influence of the audit. Data will be collected through qualitative approach using open ended question because this is a method that generates and analyzes descriptive data, such as the written or spoken words and individual 's behavior observations. The empirical method is based on observation, documentation and interviews. The qualitative method with theoretical research will allow us to answer my questions and achieve my objective.

Berbagai aspek resiko kecurangan akan mempengaruhi strategi audit siklus penggajian dan personalia, oleh karena itu hal-hal yang harus dipertimbangkan adalah: