assignment 3 Essay

1087 Words Jan 20th, 2015 5 Pages

Submitted by
Mohammed A Khan

Submitted to
Prof: Wendy Achilles
Course: Acc 562 Advanced Auditing
Dated: 12-14-2014

• Freescale Semiconductor Inc. (FCI) is a global leader in embedded processing solutions, providing industry leading products that are advancing the automotive, consumer, industrial and networking markets. • From microprocessors and microcontrollers to sensors, analog integrated circuits and connectivity –
FCI’s technologies are the foundation for the innovations that make the world greener, safer, healthier and more connected.

Continued from previous slide
• Some of Free scale's key applications and end-markets include automotive safety, hybrid and all-electric
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Internal Control Tool to avoid a fraud: Under this case • Role of independent Partner – responsible for sharing insider information to anyone. His actions should be monitored by other authorized persons of E & Y company since this is very sophisticated matter and also involved a reputation of the company.
• Market reaction after involvement – E & Y should closely monitor the market fluctuations on that specific share after their involvement.

Continued from previous slide
• Monitor the beneficial – E& Y can ask for the trading report for 2 weeks from the share trading company of that particular entity (Freescale Semiconductor, Inc.)

How Murdoch can avoid this allegation
• Means of communication – It revealed that Murdoch and Gansman communicated about 400 times via text massage and telephone which is recordable.
Physical communication is not recordable with substance. • No. of beneficial – Murdock also leaked the information to her relatives.

Continued from previous slide
• Financial Relationship – It was revealed that Gansman and Murdoch






reasonably understandable to the parties who are questioning that particular leaking.

Auditor’s responsibility in terms of consulting and audit engagement
• Use – Consulting engagement of the auditor is an internal service to the company whether

may be an

investment will be feasible or not. But Audit engagement

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