Audit Risk Ann Inc. Essay

1. Member Board of Directors – Each Director serves for three-year terms and may be reelected. There are 21 members currently serving on the Board.

* The price earnings ratio has dropped by 5.510%, meaning that investors in 2009 were willing to pay slightly less per dollar of earnings than in 2008.

in order to obtain stronger or more persuasive evidence, the “bank balance” reported by the

We deliver superior customer experiences through our products and our actions. Everything we do we build on a strong network, systems and process foundation. The quality and reliability of the products we deliver are paramount. Customers pay us to provide them with services that they can rely on." Furthermore, their Board of Directors are: Lowell C. McAdam, Gregory D. Wasson, Kathryn A. Tesija, Rodney E. Slater, Robert W. Lane, Richard L. Carrión, Martha Frances, Shellye Louise, Clarence Otis, Donald T. Nicolaisen, and Melanie Liddle. Their management consists of Lowell C. McAdam Chairman, President & Chief Executive Officer; Michael Kleiman, Chief Operating Officer; Francis J. Shammo, Chief Financial Officer & Executive Vice President; Roger Gurnani, Chief Information Officer & Executive VP; Anthony J. Melone, Chief Technology Officer & Executive VP; Marc C. Reed, Chief Administrative Officer & Executive VP; Thomas J. Tauke, Executive Vice President; Daniel S. Mead Executive, Vice President; and Michael A. Mason, Chief Security

Quality Objectives - The quality objectives define measurable goals relative to the company's quality management system. Requirements on the quality objectives are in ISO 9001:2008 section 5.4.1.

The aim of this report is to develop an audit plan using the 2007/2008 annual reports of the WesFarmers. This report will provide an understanding of the underlying concepts of an overall audit strategy. This strategy will bring forward the direction and scope of the WesfFarmers audit plan. This report will address five major points these are as follows:

Each flowchart step is placed in the “Lane” for the group responsible for completing the task (Marketing, Sales, HR, etc.).

This report analyses Virgin Australia (ASX code VAH) and identifies its potential business and audit risks that will need to be addressed in the 2014 audit. It is presented to the Virgin Australia Audit Committee as part of the 2014 Audit planning process.

The following table sets forth certain information with respect to the executive officers and directors as of September 1, 2009:

• Directing appropriate attention to the different areas of the audit such as assessing materiality, so that when the detailed audit plan is prepared, audit procedures can be directed towards the material amounts.

Merry-Go-Round (MGR) is a clothing retailer that was founded in 1968. The company’s locations were in malls that targeted the youth and teen market. In the late 1980s, the company was listed by Forbes magazine as one of the top 25 companies. By the early 1990s, sales fell due to stiff competition from other retailers. Facing bankruptcy, the company hired turnaround specialists from Ernst and Young (E&Y) to help overcome the financial crisis. However, the company filed for Chapter 11 reorganization and due to that a group of 9,000 creditors filed a lawsuit against E&Y saying they were the main reason for MGR’s decline.

The Board of the Company consists of 11 (eleven) Independent Directors and 2 (two) Inside Directors. They have expertise in the areas of business, finance, law, audit and public companies.

Risk management is the term applied to a logical and systematic method of establishing the context, identifying, analyzing, evaluating, treating, monitoring and communicating risks associated with any activity, function or process in a way that will enable organizations to minimize losses and maximize opportunities. (Lecture notes)Risk Management is also described as 'all the things you need to do to make the future sufficiently certain'. (The NZ Society for Risk Management, 2001)

2001. It was the year that every individual; man, woman and children on Earth would remember. There was the September 11 event which was considered the worst terrorist attack that has happened in U.S. history, killing a total of 2, 977 people. And not long after that, in the business world, on December 2, the greatest corporate failure was exposed. The crash of Enron in US, followed by the worldwide collapse of its auditor, Arthur Andersen became one the most popular accounting scandal where it is still being talked about even after a decade has passed. Following this scandal, other massive organizations like WorldCom (2002), AIG (2004), and Satyam Computer Services (2009) shared the same fate. Since then, there have been questions being

3a. Who are the board members that are standing for election at Ford in 2010?