Audit Firm in Kedah

The audit planning is designed to allow the auditor to evaluate and conduct the business risks, develop specific audit program and scope to test in the audit process (KosmalaMacLullich, 2003). The auditors with a good audit planning will generate more efficient audits, it can help them to maintain the competitive and their clients because the efficient audits can increase the competence and the audit quality. If the auditor with a poor audit planning, will generate a poor allocation of work, the auditor will inadequate attention to high risk areas, they will difficult to find the material misstatements, it will make a loss of their competence and get a poor audit quality. (2)

Elder, A. A., Beasley, M., & Elder, R. J. (2014). Auditing and assurance services (15th ed.). Upper Saddle River, NJ: Pearson.

Visit the websites for the Institute of Internal Auditor and the Association of Certified Fraud Examiners:

Encyclopedia, B. F. (n.d.). Assurance. Retrieved 06 26, 2011, from Encyclopedia of Business Finance: http://www.enotes.com/business-finance-encyclopedia/assurance-services

Arens, A. A., Elder, R. J., & Beasley, M. S. (2013). Auditing and Assurance Services. Old Tappan, NJ: Pearson Education.

• Assess and establish a clinical pathway utilizing InterQual Guidelines with appropriate professional nursing judgment to determine medical necessity of current medical procedures/admissions, accurate length of stay, and anticipated discharge needs while maintaining compliance with ACA and URAC regulations and company standards.

The company’s financial report ending 30 June 2009 was audited by Mr. DELOITTE TOUCHE TOHMATSU and Mr. TOM EMBASSI, of the Charted Accountants firm “DELOITTE”

The behaviors and attitudes of the auditor’s was very professional in exercising due diligence and proper training in the following manners. Oloff tried to contact the attorney several times by phone, left five messages and when she inquired about voice mail and email received a no answer to both types of technology. She also tried to set an appointment but was fended off of this type of communication as well. Corliss was put off about speaking with the previous auditors by the owner citing that there were personality conflicts and his concern was they would speak ill of the company. Corliss reminded him that it is required part of the procedure to accept them as a client. Gabelli investigated the going concern aspect, in

The Phar Mor case is an example of a fraud that was collusive effort of multiple individuals within the upper management who continually worked to hide evidence from the auditors. With the signs of covering losses, creating fictitious inventory, misstating financial statements, and misappropriating the company’s dwindling assets; the fraud was significant but the oversight inept procedures by the auditors extended this fraud for nearly five-years Currently, accounting firms, with the leverage provided by Statement on Auditing Standard No. 99 are shifting from the cost-pressured audit situation of the past to more quality audits and fulfilling the responsibility to plan and perform.

This report plans the audit for the company Pacific Star Network Limited. This report covers only the first stage of an audit that is risk assessment. Planning of an audit requires that the auditor plan their audit by assessing the risk elements and try to reduce that risk using different audit risk procedure calculations. This report tells about the accounts, which have the most risk of being materially misstated in the Balance sheet and Statement of financial position of the company report of the year 2015 and 2014. For identify the misstated account, simple comparison analytical procedure is used. This report also set the materiality level for the purpose of audit. Therefore, the reason for material misstated can be identify.

Auditors should look out that the company may have the opportunity to carry out the fraud. There have certain conditions that will occur this opportunity

The auditing firm has been in engagement with the company throughout the period when the fraud was being committed. One of the common and clear indicators of possible fraud was the company’s cash flow statement. The company experienced positive growth in its profits from the year 1996 through to the year 1998. However, a close analysis of the cash flow statement shows that the company had experienced negative figures of cash flow from both operating and investing activities and positive cash flow from financing activities which would not sufficiently offset the negative cash flows from operating and investing. It is therefore evident

Company’s new CAE can explain to the non-audit employees that IAD’s objective is to add values and help improve the business processes as well as company performance, which will affect each employee significantly. It is important to let all employees understand that the answers or thoughts they provide to the internal auditors will not be used against them. Moreover, establishing good relationship and providing ongoing communication with the non-audit employees can make them feel more comfortable to share their feedback and thoughts, and can reduce the “us vs. them” relationship between company’s non-audit employees and the staff of internal auditors.

The Lakeside Company: Auditing Cases, 12th edition, has been updated in light of the accounting

Integrity might cause problems in this case as the main persons in this organization are family members and there are also family members with high functions in the bank and JRW Realty with which Prefab has close business relations. Moreover, the members of the audit and compensation committee are not all independent of the firm and therefore, the likelihood of fraud or material misstatements in the financial statements is quite high. The profitability of the engagement to the auditor should be considered as well. Due to the extensive investigation the auditor has to do, especially due to the relationships between the people at the top management and the independence of the audit and compensation committee, the profitability might be a concern. Furthermore, from the analysis of the business risks of accepting the audit it can be concluded that there are several severe problem areas in which fraud or material misstatements in the financial statements can take place. At the Prefab Sprout Company the risk of fraud or material misstatements is considered to be very high and therefore, the engagement should not be accepted.