Environmental Auditing Guide

Describe how you would conduct the audit process, incorporating the analytical procedures you would use to investigate selected business transactions?

This course is the first in a two-part series that deals with auditing a company 's financial reports, internal controls, and

Compare the primary auditor objectives in auditing historical financial statements to auditing internal controls over financial reporting. Identify at least two (2) objectives that are the most significant in reducing the risk of reporting errors or misstatements in financial statements. Provide a rationale for your response.

Discuss the audit risk model, and ascertain which sampling or non-sampling techniques you would use in order to establish your preliminary judgment about materiality. Justify your response.

looking at the solutions will test your. Integrated Audit Practice Case, 5th edition, by Kerr, Elder & Arens (ISBN No.

Two types of audits are conducted: internal control and performance audits. The internal audit is done to ensure that an agency is keeping proper records, adhering to policies and procedures. It evaluates and tests rules and regulations to ensure officials use public resources with integrity. On the other hand, Performance Audits assess how efficiently and effectively a local government runs aspects of its

These environmental costs are evidently known to negatively affect the animals and also the citizens in regions around such buildings and facilities. Again, the company Entergy, for instance has made a hefty amount of money functioning as a Nuclear Power Plant that produces electricity. Initially the plant had a 30 year license to operate, which was supposed to expire in March of 2012. But in March 2011 the Nuclear Regulatory Commission (NRC) extended the license to operate for another 20 years. But more recently this has changed and as an example of how beneficiaries have been less able to put environmental costs on others. The continued operations of this power plant specifically have become complicated/ compromised very recently and on August 28th 2013, Entergy announced that economic factors, particularly the lower cost of electricity provided by competing natural gas fired power plants, had led them to consider stopping operations and schedule the closing of the plant at the end of the year 2014. This is however, is in some ways a misstatement because when asking Angela Mrozinski about this she

There are four things that an auditor needs to assess prior to performing an audit:

During environmental scanning of a company, there is a thorough assessment into a complete global analysis. This involves companies, markets, clients, industries, and businesses in the same market. For this study will consider the trends, technological events, successes, and expectations in business.

|Develop Audit programs for the substantive audit procedures for the balance sheet and income statement |35 |

Auditing standards that give guidance for internal control reporting are AS 2 & AS 5.

This paper contains the summary of the details and results of the audit tests on

a. “Analytical procedures are an important part of the audit process and consist of evaluations of financial information made by a study of plausible relationships among both financial and nonfinancial data. Analytical procedures range from simple comparisons to the use of complex models involving many

3 pillars of effective internal audit services- independence and objectivitiy, proficiency, and due professional care.

Social Factors - The California Pizza Kitchen sells pizzas, pastas, salads, etc. and the ambience of the restaurants is quite informal and homely. Its primary key to its success has been that they were the first pizza restaurant that offered fresh and non-traditional ingredients for its pizzas. On a whole, the American consumer base is traditionally not very nutritional conscience when it comes to dining out. Regionally, the consumer preferences are suiting the business model of the company in most areas; however changes in the consumer