Example Of Auditor Competence

610, Using the Work of Internal Auditors Paper for ACCT 343 Auditing Wendy Popowich Carrie Prosser Bachelor of Applied Business Administration – Accounting NAIT School of Business Submitted: October 20, 2010 Due: October 20, 2010 TABLE OF CONTENTS Executive summary 3 Introduction 4 Limitations in changes to the ISA 610 before implementation….. 5 Format and wording changes within the exposure draft 5 Using direct assistance from internal auditors 6 Using examples in the proposed exposure draft

UNIVERSITY OF NAIROBI Principles of auditing term paper GROUP 3 NAME REG. NO 1. KINUTHIA ROSEMARY D33/2395/2011 2. OMONDI BRADLEY D33/2389/2011 3. KEMUNTO DOLLY D33/2375/2011 4. MENGICH NOAH D33/2460/2011 DECLARATION We declare that this assignment is our original work and has not been submitted elsewhere for examination, award of a degree or publication. Where other people’s work, or our own work has been used, this has properly been acknowledged

The Auditors’ responsibility for the detection of fraud is an ongoing issue that is surrounded by much controversy (Gray, Manson and Crawford, 2015). It is believed by many people that Auditors are responsible to detect fraud and have the ability to do something about it, while In fact they have a very limited role in the detection of fraud. The public’s misconception of the auditors roll and what the auditors roll actually is, is referred to as the expectation Gap. In the auditing profession

This could have a negative impact on the degree of quality of the audits and review engagements being performed as potentially less experienced employees are working in these areas. This could also lead to employees reviewing their own work. For example, if an employee that had been performing an audit was then moved to review the same audit, they may feel inclined to give their own work a positive review. When individuals review their own work they may also miss the same mistakes they had made in

1. The main elements highlighted within the C.I.M.A. code of ethics The C.I.M.A code is includes three parts. Part A explains which fundamental principles of professional ethics should be professional accountants complied. Part B is suitable for professional accountants who work in public practice. And Part C applies to the professional accountants who work in business. Among these three parts, the main elements highlighted within the C.I.M.A. code of ethics could be grouped into three. 1.1. Fundamental

occurred. They let the fraud and deceit occur right under their noses. There are three terms that from auditing class that I remember more than the rest of the class itself. First is competence. There is no doubt in my mind based on the research and the facts that the AA team didn’t have the proper training and competence to do their job at Enron. AA was a top five auditing firm in the entire world. To be working for the company and their standards you had to be able to do the job properly. Second

Sodergard (300308402)   Assignment 1 Discussion questions 1. Favours and concerns about acceptance Factors Favoring Acceptance Concerns about Acceptance Responses to inquiries of predecessor auditor were complimentary about Oceanview. Predecessor auditor spoke highly of Oceanview’s employees’ integrity, competence, and dedication to running a successful business. (Para 26, PES 3(Amended), pg. 12) Liberal credit policies that does not require credit check of a customer is a risky business decision. This

acceptable level of detection risk, and designing an audit program to achieve an appropriately low level of audit risk. The auditor uses the audit risk assessment in determining the audit procedures to be applied, including whether they should include confirmation. The greater the combined assessed level of inherent and control risk, the greater the assurance that the auditor needs from substantive tests related to a financial statement assertion.

THE NORTH FACE, INC.: An analysis of Instructional Case Focusing on Ethical Issues Involving Financial Accountants and Independent Auditors Questions 1. Should auditors insist that their clients accept all proposed audit adjustments, even those that have an “immaterial” effect on the given set of financial statements? Defend your answer. To confirm that materiality is a pervasive concept in auditing, simply

important to ensure that the auditing profession meets its responsibilities to its clients. While working for a company to audit their financial information, they are also at the same time working for the public and regulators who rely on externals auditors to prove credibility to the financial information that companies release (Cooper, Coram, Richardson, & Leung, 2009). To assist in quality assurance, the profession, and government have developed multilevel framework which is designed to regulate