describe the objective of fi nancial statements and the importance of fi nancial reporting standards in security analysis and valuation

Q: What is operational auditing? How does the AICPA view operational auditing?

A:

Q: Issues that can be caused by the following risks: Execution risk Strategic risk Technology risk…

A: Operational risk management (ORM) is characterized as a continuous cyclic process that comprises…

Q: In mitigating risks, discuss some of the important issues that must be addressed in developing a…

A: The purpose developing the reliable financial standard is needed for the company to making the…

Q: Explain implementation and maintenance of adequate internal controls.

A: Internal Controls: Internal controls are the controls established within an organization to check…

Q: What standards govern SSARS engagements?

A: American Institute of Certified Public Accountants (AICPA):   It is an association of certified…

Q: List all the IAS and IFRS Standards and state thier objectives

A: The accounting standards of IAS are as follows:

Q: Define enterprise risk management.

A: It is basically a strategy that helps businesses to find out the potential various type of risks…

Q: What are the IFRS and IAS standards trying to accomplish, and how broad is their scope?

A: In the era of globalization, businesses around the world work together. Investors have more…

Q: Explain types of Security Issuers and Guarantors?

A: Types of security issuers are described as follows: Banks– Banks generally issue securities to meet…

Q: Identify each of the following as a (a) purpose of an internal control system, (b) principle of…

A: Internal control system: Internal control system is a set of policies, procedures established to…

Q: grity of information. policies, plans, procedures, law ssets. efficiency of onerations

A: Segregation of duties is an internal control measure. It refers to the division of duties among more…

Q: 'The policy instrument must be observable and measurable, it must be controllable by the Centra…

A: Policy instrument refers to the techniques that are used by the authorities of government or the…

Q: Distinguish between the different types of security orders and explain how a confirmation statement…

A: A confirmation statement refers to a document that consists of general information related to…

Q: Standardize auditing procedures by identifying industry consensus (GAAS). What's the point of GAAS,…

A: The Question deals with standardize auditing procedures by identifying industry consensus (GAAS):

Q: Define each of the following terms:b. Enterprise risk management

A: Definition of Enterprise Risk Management   Enterprise risk management (ERM) is a plan-based business…

Q: Critically explain, including the use of a graph, the security market line (SML).

A: The Security Market Line (SML) is the graphical representation of capital asset pricing model (CAPM)…

Q: describe a spectrum for assessing fi nancial reporting quality;

A: A quality spectrum provides a basis for evaluating quality reports and ranges from reports that are…

Q: What forms of protection and regulation do regulators of FI's impose to ensure their safety and…

A: The financial institutions should regulate the economy in an efficient manner. The financial…

Q: Define what is meant by compliance auditing

A: Auditing: Auditing is the process by which assertions made by management about financial…

Q: describe the objective of audits of fi nancial statements, the types of audit reports, and…

A: The main objective of a financial report audit is to enable auditors to re-examine the financial…

Q: What is the purpose of an audit strategy memorandum? What information should it contain?

A: Audit Strategy Memorandum: After the calculation of all financial statement risks, identification…

Q: What principles are essential to an effective risk management program?

A: All types of organizations face different types of risks which may affect their chances of success.…

Q: Define Security Market Line (SML

A: When the cost of equity obtained from CAPM model is graphically presented, it is known as Security…

Q: Briefly explain the main purpose of Risk Governance Framework (RGF)

A: Every organisation maintains risk governance framework.It has certain objectives and purposes in…

Q: Auditors' activities about which of these GAAS

A: Option b is wrong because the planning of the work, assistants and supervision are affected by the…

Q: Locate and describe the primary policy-making organizations and their involvement in the development…

A: This question about explains the primary policy-making organizations and their involvement in the…

Q: Define the term assurance.

A: Assurance: Assurance is a financial coverage that delivers payment for an occurrence that is sure to…

Q: Outline the anti-avoidance provisions as they relate to dealings in security

A: Anti avoidance provisions means a cluster of statutory provisions designed to stop certain…

Q: describe the use of the results of the accounting process in security analysis.

A: Financial statements provide the basis for equity and credit analysis. However, analysts must make…

Q: Identify the major policy-setting bodies and their role in the standard-setting process

A: Auditing: Auditing is the process by which assertions made by management about financial…

Q: Risk management practice has seen significant development in recent time’. Provide a critical…

A: The whole process of risk management includes assessing the risk levels and extent in line with the…

Q: Explain the concepts and principles which underlie the SMEs standard

A: The concept and principle of sme standard are as follows

Q: Advanced auditing is enabled through the local security policy, by using Group Policy, or by using…

A: Advanced Security Audit Policy: This is a security policy which enables the audit security policy…

Q: recommended actions on how to address: Execution risk Strategic risk Reputation risk Process…

A: Financial risk refers to a variety of risks related with funding, such as financial transactions…