The Demand for Audit and Other Assurance Services
|
|
|
- Audra West
- 6 years ago
- Views:
Transcription
1 The Demand for Audit and Other Assurance Services Chapter Prentice Hall Business Publishing, Auditing 12/e, Arens/Beasley/Elder 1-1
2 Sarbanes-Oxley Act The Act established the Public Company Accounting Oversight Board. It also requires auditors to attest to management reports on the effectiveness of internal control over financial reporting Prentice Hall Business Publishing, Auditing 12/e, Arens/Beasley/Elder 1-2
3 Learning Objective 1 Describe auditing Prentice Hall Business Publishing, Auditing 12/e, Arens/Beasley/Elder 1-3
4 Nature of Auditing (Konrath, 2002:5) Auditing Suatu Proses sistematis untuk secara objektif mendapatkan & mengevaluasi bukti Mengenai asersi tentang kegiatan-kegiatan dan kejadian-kejadian ekonomi untuk meyakinkan tingkat keterkaitan antara asersi tersebut dan kriteria yang telah ditetapkan & mengkomunikasikan hasilnya kepada pihak-pihak yang berkepentingan Auditing merupakan salah satu bentuk ATESTESI Yakni Suatu komunikasi dari seorang expert perihal Kesimpulan tentang realibilitas dari pernyataan seseorang 2008 Prentice Hall Business Publishing, Auditing 12/e, Arens/Beasley/Elder 1-4
5 Nature of Auditing Auditing is the accumulation and evaluation of evidence about information to determine and report on the degree of correspondence between the information and established criteria. Auditing should be done by a competent, independent person Prentice Hall Business Publishing, Auditing 12/e, Arens/Beasley/Elder 1-5
6 Information and Established Criteria To do an audit, there must be information in a verifiable form and some standards (criteria) by which the auditor can evaluate the information Prentice Hall Business Publishing, Auditing 12/e, Arens/Beasley/Elder 1-6
7 Accumulating Evidence and Evaluating Evidence Evidence is any information used by the auditor to determine whether the information being audited is stated in accordance with the established criteria Prentice Hall Business Publishing, Auditing 12/e, Arens/Beasley/Elder 1-7
8 Competent, Independent Person The auditor must be qualified to understand the criteria used and must be competent to know the types and amount of evidence to accumulate to reach the proper conclusion after the evidence has been examined. The competence of the individual performing the audit is of little value if he or she is biased in the accumulation and evaluation of evidence Prentice Hall Business Publishing, Auditing 12/e, Arens/Beasley/Elder 1-8
9 Audit Report The final stage in the auditing process is preparing the Audit Report, which is the communication of the auditor s findings to users Prentice Hall Business Publishing, Auditing 12/e, Arens/Beasley/Elder 1-9
10 Audit of a Tax Return Example Information Competent, independent person Federal tax returns filed by taxpayer Internal Revenue agent Accumulates and evaluates evidence Examines cancelled checks and other supporting records Determines correspondence Established criteria Internal Revenue Code and all interpretations Report on results Report on tax deficiencies 2008 Prentice Hall Business Publishing, Auditing 12/e, Arens/Beasley/Elder 1-10
11 Learning Objective 2 Distinguish between auditing and accounting Prentice Hall Business Publishing, Auditing 12/e, Arens/Beasley/Elder 1-11
12 Distinguish Between Auditing and Accounting Accounting is the recording, classifying, and summarizing of economic events for the purpose of providing financial information used in decision making. Auditing is determining whether recorded information properly reflects the economic events that occurred during the accounting period Prentice Hall Business Publishing, Auditing 12/e, Arens/Beasley/Elder 1-12
13 Learning Objective 3 Explain the importance of auditing in reducing information risk Prentice Hall Business Publishing, Auditing 12/e, Arens/Beasley/Elder 1-13
14 Economic Demand for Auditing Information risk reflects the possibility that the information upon which the business risk decision was made was inaccurate. Auditing can have a significant effect on information risk Prentice Hall Business Publishing, Auditing 12/e, Arens/Beasley/Elder 1-14
15 Learning Objective 4 List the causes of information risk, and explain how this risk may be reduced Prentice Hall Business Publishing, Auditing 12/e, Arens/Beasley/Elder 1-15
16 Causes of Information Risk Remoteness of information Biases and motives of the provider Voluminous data Complex exchange transactions 2008 Prentice Hall Business Publishing, Auditing 12/e, Arens/Beasley/Elder 1-16
17 Reducing Information Risk User verifies information User shares information risk with management Audited financial statements are provided 2008 Prentice Hall Business Publishing, Auditing 12/e, Arens/Beasley/Elder 1-17
18 Learning Objective 5 Describe assurance services and distinguish audit services from other assurance and nonassurance services provided by CPAs Prentice Hall Business Publishing, Auditing 12/e, Arens/Beasley/Elder 1-18
19 Assurance Services An assurance service is an independent professional service that improves the quality of information for decision makers. Assurance services can be performed by CPAs or by a variety of other professionals Prentice Hall Business Publishing, Auditing 12/e, Arens/Beasley/Elder 1-19
20 Assurance Services (Konrath, 2002:4) Yang dikelola adalah: Reliabilitas (keandalan) dari sistem informasi Cukup tidaknya sistem manajemen resiko Efektifitas dari sistem pengukuran kinerja Cukup tidaknya keamanan atas transaksi komersial 2008 Prentice Hall Business Publishing, Auditing 12/e, Arens/Beasley/Elder 1-20
21 Attestation Services An attestation service is a type of assurance service in which the CPA firm issues a report about the reliability of an assertion that is the responsibility of another party. An attestation memberikan opini atas reliabilitas dari pernyataan seseorang 2008 Prentice Hall Business Publishing, Auditing 12/e, Arens/Beasley/Elder 1-21
22 Attestation Services 1. Audit of historical financial statements 2. Attestation of internal control over financial reporting 3. Review of historical financial statements 4. Attestation services on information technology 5. Other attestation services 2008 Prentice Hall Business Publishing, Auditing 12/e, Arens/Beasley/Elder 1-22
23 Attestation Services (Konrath, 2002:4) 1. Assersion on Internal Control 2. Assersion on Compliance to the Contract Points Agreement 3. Assersion on Compliance to the Acts and Roles 2008 Prentice Hall Business Publishing, Auditing 12/e, Arens/Beasley/Elder 1-23
24 Relationships Among Auditors, Client, and External Users Client or audit committee hires auditor Auditor Auditor issues report relied upon by users Client External Users 2008 Prentice Hall Business Publishing, Auditing 12/e, Arens/Beasley/Elder 1-24
25 Other Assurance Services Most of the other assurance services that CPAs provide do not meet the formal definition of attestation services. The CPA is not required to issue a written report. The assurance does not have to be about the reliability of another party s assertion about compliance with specified criteria Prentice Hall Business Publishing, Auditing 12/e, Arens/Beasley/Elder 1-25
26 AICPA Assurance Services The AICPA formed the Special Committee on Assurance Services (SCAS) Prentice Hall Business Publishing, Auditing 12/e, Arens/Beasley/Elder 1-26
27 Attestation Services on Information Technology WebTrust is an attestation service, and the WebTrust seal is a symbolic representation of the CPA s report on management s assertions about its disclosure of electronic commerce practices Prentice Hall Business Publishing, Auditing 12/e, Arens/Beasley/Elder 1-27
28 Attestation Services on Information Technology SysTrust is an attest-type engagement to evaluate and test system reliability in areas such as security and data integrity Prentice Hall Business Publishing, Auditing 12/e, Arens/Beasley/Elder 1-28
29 Principles for WebTrust and SysTrust Services 1. Online privacy 2. Security 3. Processing integrity 4. Availability 5. Confidentiality 6. Certification authorities (WebTrust only) 2008 Prentice Hall Business Publishing, Auditing 12/e, Arens/Beasley/Elder 1-29
30 Nonassurance Services Provided by CPAs 1. Accounting and bookkeeping services 2. Tax services 3. Management consulting services 2008 Prentice Hall Business Publishing, Auditing 12/e, Arens/Beasley/Elder 1-30
31 Other Assurance Services Examples Controls over and risks related to investments, including policies related to derivatives assessing the processes in a company s investment practices to identify risks and to determine the effectiveness of those processes Prentice Hall Business Publishing, Auditing 12/e, Arens/Beasley/Elder 1-31
32 Other Assurance Services Examples Mystery shopping performing anonymous shopping to assess sales personnel dealing with customers and procedures they follow Prentice Hall Business Publishing, Auditing 12/e, Arens/Beasley/Elder 1-32
33 Other Assurance Services Examples Assess risks of accumulation, distribution, and storage of digital information assessing security risks and related controls over data and other information stored electronically, including the adequacy of backup and off-site storage Prentice Hall Business Publishing, Auditing 12/e, Arens/Beasley/Elder 1-33
34 Other Assurance Services Examples Fraud and illegal acts risk assessment developing fraud risk profiles and assessing the adequacy of company systems and policies in preventing and detecting fraud and illegal acts Prentice Hall Business Publishing, Auditing 12/e, Arens/Beasley/Elder 1-34
35 Other Assurance Services Examples Compliance with trading policies and procedures Compliance with entertainment royalty agreements ISO 900 certification Environmental audit 2008 Prentice Hall Business Publishing, Auditing 12/e, Arens/Beasley/Elder 1-35
36 Assurance, Attestation, and Nonassurance Services ASSURANCE SERVICES ATTESTATION SERVICES Audits Reviews Internal Control over Financial Reporting Other Attestation Services (e.g., WebTrust, SysTrust) Certain Management Consulting Other Assurance Services 2008 Prentice Hall Business Publishing, Auditing 12/e, Arens/Beasley/Elder 1-36
37 Assurance, Attestation, and Nonassurance Services NONASSURANCE SERVICES Other Management Consulting Certain Management Consulting Accounting and Bookkeeping Tax Services 2008 Prentice Hall Business Publishing, Auditing 12/e, Arens/Beasley/Elder 1-37
38 Learning Objective 6 Differentiate the three main types of audits Prentice Hall Business Publishing, Auditing 12/e, Arens/Beasley/Elder 1-38
39 Types of Audits Operational Compliance Financial Statement 2008 Prentice Hall Business Publishing, Auditing 12/e, Arens/Beasley/Elder 1-39
40 Operational Audit Example Information Established Criteria Available Evidence Evaluate computerized payroll system for efficiency and effectiveness Number of records processed, costs of the department, and number of errors Company standards for efficiency and effectiveness in payroll department Error reports, payroll records, and payroll processing costs 2008 Prentice Hall Business Publishing, Auditing 12/e, Arens/Beasley/Elder 1-40
41 Compliance Audit Example Information Established Criteria Available Evidence Determine whether bank requirements for loan continuation have been met Company records Loan agreement provisions Financial statements and calculations by the auditor 2008 Prentice Hall Business Publishing, Auditing 12/e, Arens/Beasley/Elder 1-41
42 Audit of Historical Financial Statements Example Information Established Criteria Available Evidence Annual audit of Boeing s financial statements Boeing's financial statements Generally accepted accounting principles Documents, records, and outside sources of evidence 2008 Prentice Hall Business Publishing, Auditing 12/e, Arens/Beasley/Elder 1-42
43 Learning Objective 7 Identify the primary types of auditors Prentice Hall Business Publishing, Auditing 12/e, Arens/Beasley/Elder 1-43
44 Types of Auditors Independent certified public accounting firms Governmental general accounting office auditors Internal Revenue agents Internal auditors 2008 Prentice Hall Business Publishing, Auditing 12/e, Arens/Beasley/Elder 1-44
45 Learning Objective 8 Describe the requirements for becoming a CPA Prentice Hall Business Publishing, Auditing 12/e, Arens/Beasley/Elder 1-45
46 Three Requirements for Becoming a CPA Educational requirement Uniform CPA examination requirement Experience requirement 2008 Prentice Hall Business Publishing, Auditing 12/e, Arens/Beasley/Elder 1-46
47 CPA Examination Sections Auditing and Attestation Financial Accounting and Reporting Regulation Business Environments and Concepts 2008 Prentice Hall Business Publishing, Auditing 12/e, Arens/Beasley/Elder 1-47
48 End of Chapter Prentice Hall Business Publishing, Auditing 12/e, Arens/Beasley/Elder 1-48
THE DEMAND FOR AUDIT AND OTHER ASSURANCE SERVICES
THE DEMAND FOR AUDIT AND OTHER ASSURANCE SERVICES CHAPTER 1 Copyright 2017 Pearson Education, Ltd. 1-1 CHAPTER 1 LEARNING OBJECTIVES 1-1 Describe auditing. 1-2 Distinguish between auditing and accounting.
Chapter 1. The Demand for Audit and Other Assurance Services
Solutions Manual Auditing and Assurance Services an Integrated Approach 15th Edition Alvin A. Arens Instant download and all chapters Auditing and Assurance Services an Integrated Approach 15th Edition
Solution Manual for Auditing and Assurance Services 14th Edition by Arens
Chapter 1 Solution Manual for Auditing and Assurance Services 14th Edition by Arens Link download full: https://testbankservice.com/download/solutionmanual-for-auditing-and-assurance-services-14th-edition-by-arens/
Chapter 1 The Demand for Audit and Other Assurance Services Review Questions
Solution Manual for Auditing and Assurance Services 14th Edition by Arens Elder and Beasley Link download full: https://digitalcontentmarket.org/download/solution-manual-forauditing-and-asurance-14th-edition-by-arens-elder-and-beasley/
Lecture 1 The demand for Audit, the audit report. Part 1: Chapter 1 The demand for Audit Assurance Services and Audit
22522 - Assurance Services and Audit Lecture 1 The demand for Audit, the audit report Part 1: Chapter 1 The demand for Audit Learning Objectives 1.! Describe assurance services, and distinguish audit services
Chapter 25 Other Assurance Services. Copyright 2014 Pearson Education
Chapter 25 Other Assurance Services Understand the level of assurance and evidence requirements for review and compilation services. Describe special engagements to review interim financial information
AUDIT RESPONSIBILITIES AND OBJECTIVES
AUDIT RESPONSIBILITIES AND OBJECTIVES CHAPTER 6 Copyright 2017 Pearson Education, Ltd. 6-1 CHAPTER 1 LEARNING OBJECTIVES 6-1 Explain the objective of conducting an audit of financial statements and an
Chapter 2. The CPA Profession
Chapter 2 The CPA Profession Review Questions 2-1 The four major services that CPAs provide are: 1. Audit and assurance services Assurance services are independent professional services that improve the
Chapter 1 The Demand for an Auditing and Assurance Profession
Chapter 1: The Demand for an Auditing and Assurance Profession Chapter 1 The Demand for an Auditing and Assurance Profession Audit Challenge 1-1: Assessing Privacy Practices 1. Hospital data could be obtained
After completing this Session, you should be able to answer the following questions:
About this Course Welcome to CMA Auditing Course, Part II. Below, you will find a short summary of the modules. Upon registration, further introductory resources will tell you: How the course is organized
AUDIT COMMITTEE CHARTER
AUDIT COMMITTEE CHARTER A. Purpose The purpose of the Audit Committee is to assist the Board of Directors (the Board ) oversight of: the quality and integrity of the Company s financial statements, financial
Chapter 2. The CPA Profession
Chapter 2 The CPA Profession Review Questions 2-1 The four major services that CPAs provide are: 1. Audit and assurance services Assurance services are independent professional services that improve the
Auditing & Assurance Services, 7e (Louwers) Chapter 2 Professional Standards
Auditing & Assurance Services, 7e (Louwers) Chapter 2 Professional Standards 1) Control risk is A) the probability that a material misstatement could not be prevented or detected by the entity's internal
Auditing and Attestation (AUD) - Content Outline Effective January 2014
Auditing and Attestation (AUD) - Content Outline Effective January 2014 The Auditing and Attestation section tests knowledge and understanding of the following professional standards: Auditing standards
Assurance Research Advisory Group Firm Data
Assurance Research Advisory Group Firm Data Program Summary The AICPA Assurance Research Advisory Group (ARAG) seeks to drive research relative to private company assurance issues that are most pressing
Chapter 02. Professional Standards. Multiple Choice Questions. 1. Control risk is
Chapter 02 Professional Standards Multiple Choice Questions 1. Control risk is A. the probability that a material misstatement could not be prevented or detected by the entity's internal control policies
SOUTHWEST AIRLINES CO. AUDIT COMMITTEE CHARTER
SOUTHWEST AIRLINES CO. AUDIT COMMITTEE CHARTER The Audit Committee of the Board of Directors of Southwest Airlines Co. shall consist of at least three directors, each of whom shall meet the independence
Chapter 18. Integrated Audits of Public Companies. McGraw-Hill/Irwin. Copyright 2012 by The McGraw-Hill Companies, Inc. All rights reserved.
Chapter 18 Integrated Audits of Public Companies McGraw-Hill/Irwin Copyright 2012 by The McGraw-Hill Companies, Inc. All rights reserved. Nature of an Integrated Audit Auditors of public companies should
2-2 The major characteristics of CPA firms that permit them to fulfill their social function competently and independently are:
Link full download Solution Manual : http://testbankair.com/download/solution-manual-forauditing-and-assurance-services-16th-edition-by-arens-elder-beasley-and-hogan Link full download test bank: http://testbankair.com/download/test-bank-for-auditing-andassurance-services-16th-edition-by-arens-elder-beasley-and-hogan/
GAP INC. AUDIT AND FINANCE COMMITTEE CHARTER February 23, 2016
GAP INC. AUDIT AND FINANCE COMMITTEE CHARTER February 23, 2016 The Audit and Finance Committee of the board of directors assists the board in fulfilling its oversight responsibilities relating to the integrity
Audrey A. Gramling Kennesaw State University. Larry E. Rittenberg. University of Wisconsin Madison. Karla M. Johnstone
Auditin Audrey A. Gramling Kennesaw State University Larry E. Rittenberg University of Wisconsin Madison Karla M. Johnstone University of Wisconsin Madison /% SOUTH-WESTERN *% CENGAGE Learning- Australia
BIOSCRIP, INC. CHARTER OF THE AUDIT COMMITTEE OF THE BOARD OF DIRECTORS
BIOSCRIP, INC. CHARTER OF THE AUDIT COMMITTEE OF THE BOARD OF DIRECTORS Statement of Purpose 1. Oversight Responsibility. The purpose of the Audit Committee of the Board of Directors of BioScrip, Inc.,
STARWOOD HOTELS & RESORTS WORLDWIDE, INC. CHARTER OF THE AUDIT COMMITTEE OF THE BOARD OF DIRECTORS
STARWOOD HOTELS & RESORTS WORLDWIDE, INC. CHARTER OF THE AUDIT COMMITTEE OF THE BOARD OF DIRECTORS Starwood Hotels & Resorts Worldwide, Inc. (the Company ) has determined that it is of the utmost importance
Society of Louisiana CPAs. Annual Report on Oversight. Date Issued July 21, Period covered January 1, 2016 December 31, 2016
Society of Louisiana CPAs Annual Report on Oversight Date Issued July 21, 2017 Period covered January 1, 2016 December 31, 2016 Administering Entity Oversight Process and Procedures Oversight of Peer s
BIG LOTS, INC. AMENDED AND RESTATED AUDIT COMMITTEE CHARTER
May 2010 BIG LOTS, INC. AMENDED AND RESTATED AUDIT COMMITTEE CHARTER The Audit Committee (the Committee ) is appointed by the Board of Directors (the Board ) of Big Lots, Inc. (the Company ) to assist
Audit Committee Charter
Audit Committee Charter Purpose The purpose of the Audit Committee (the "Committee") shall be as follows: 1. To oversee the accounting and financial reporting processes of the Company and audits of the
Detailed competency map
Detailed competency map Additional competency requirements for entry to the Hong Kong Institute of CPAs qualification programme (Professional bridging examination) Fields of competency The items listed
Prerequisite(s): ACCT 1020 or permission of the Business & Technology Department Chair
Date Approved: Date Revised: 08/12 COURSE SYLLABUS Syllabus for: ACCT 2810 AUDITING Former Quarter Course(s): ACT 2810 Catalog Description: This course is a study of auditing theory and procedures with
Community Bankers Conference
3rd Annual Regional and Community Bankers Conference The Federal Reserve Bank of Boston Disclaimer NEVER WRONG DON T COMPLETELY RELY UPON Recent Developments in Audit Practice SOX, FDICIA 112, Other Robert
VERSION #1 PLEASE WRITE ON YOUR SCANTRON
VERSION #1 PLEASE WRITE ON YOUR SCANTRON ECON 132A MIDTERM #1 ANDERSON PLEASE answer multiple choice questions on green scantron and the rest in your blue book. When you are done put your scantron inside
CABOT OIL & GAS CORPORATION AUDIT COMMITTEE CHARTER
CABOT OIL & GAS CORPORATION AUDIT COMMITTEE CHARTER The Audit Committee is appointed by the Board of Directors to assist the Board of Directors in overseeing (1) the integrity of the financial statements
Presentation by: CPA Zachary Muthui
Audit Planning and Risk Assessment Presentation by: CPA Zachary Muthui Uphold public interest Audit planning Objectives of audit planning To ensure that the audit is performed in a smooth and effective
CRESCENT CAPITAL BDC, INC. AUDIT COMMITTEE CHARTER
CRESCENT CAPITAL BDC, INC. AUDIT COMMITTEE CHARTER I. Purpose The audit committee (the Audit Committee ) of Crescent Capital BDC, Inc., a Delaware corporation (the Company ), is appointed by the board
SOC Reports: What are they and what should you do with them? berrydunn.com GAIN CONTROL
SOC Reports: What are they and what should you do with them? berrydunn.com GAIN CONTROL AGENDA SOC REPORTS OVERVIEW RELEVANT SECTIONS TO REVIEW SOC REVIEW CHECKLIST 2 SOC REPORTS OVERVIEW 3 SOC REPORTS
SUNEDISON, INC. AUDIT COMMITTEE CHARTER (Adopted October 29, 2008)
SUNEDISON, INC. AUDIT COMMITTEE CHARTER (Adopted October 29, 2008) I. Purpose The primary purpose of the Audit Committee of the Board of Directors (the Committee ) is to assist the Board of Directors in
1. Auditors may be independent in fact but not independent in appearance. 3. Attestation standards provide guidance for a wide variety of engagements
Chapter 02 Professional Standards True / False Questions 1. Auditors may be independent in fact but not independent in appearance. True False 2. Auditing Standards issued by the PCAOB are the sole source
AUDIT COMMITTEE CHARTER
PURPOSE AUDIT COMMITTEE CHARTER (Adopted as of March 28, 2014 and effective as of the closing of the Company s initial public offering, amended as of February 12, 2018) The purpose of the Audit Committee
2. The auditors' report on a corporation's financial statements usually is addressed to the president of the company.
Chapter 02 Professional Standards True / False Questions 1. To express an opinion on financial statements, the auditor obtains reasonable assurance about whether the financial statements as a whole are
BIO-RAD LABORATORIES, INC. (the Company ) Audit Committee Charter
BIO-RAD LABORATORIES, INC. (the Company ) Audit Committee Requirements and Structure Audit Committee Charter The board of directors of the Company (the Board ) shall appoint an audit committee (the Audit
NATIONAL CINEMEDIA, INC. AUDIT COMMITTEE CHARTER
January 24, 2018 NATIONAL CINEMEDIA, INC. AUDIT COMMITTEE CHARTER There will be a committee of the Board of Directors (the Board ) of National CineMedia, Inc. (the Corporation ) that will be called the
Checklist for Higher Education
Checklist for Higher Education The following section contains a checklist addressing issues of particular relevance to higher education. The guidance is considered best practice for higher education. The
B S R & Co. LLP. Reporting on Internal. Reporting An Overview. Sarbanes Oxley Act (SOX) 28 December 2013
B S R & Co. LLP Reporting on Internal Controls over Financial Reporting An Overview Sarbanes Oxley Act (SOX) 28 December 2013 Agenda Sarbanes Oxley Key Sections COSO Framework Management Approach to ICOFR
See your auditor clearly. Transparency report: How we perform quality audit engagements
See your auditor clearly. Transparency report: How we perform quality audit engagements February 2014 Table of contents 1) A message from the CEO and Managing Partner Assurance 2 2) Quality control policies
1. A series of business and related auditing failures led to the passage of the Sarbanes-Oxley Act (2002).
Chapter 02 The Financial Statement Auditing Environment True / False Questions 1. A series of business and related auditing failures led to the passage of the Sarbanes-Oxley Act (2002). True False 2. The
THE AUDITOR S RESPONSIBILITIES AND FUNCTIONS, INTRODUCTION TO GAAS, AND THE GENERAL STANDARDS (INCLUDING THE QUALITY CONTROL STANDARDS)
100-230 THE AUDITOR S RESPONSIBILITIES AND FUNCTIONS, INTRODUCTION TO GAAS, AND THE GENERAL STANDARDS (INCLUDING THE QUALITY CONTROL STANDARDS) EFFECTIVE DATE AND APPLICABILITY Original Pronouncements
GTT COMMUNICATIONS, INC. AUDIT COMMITTEE CHARTER
GTT COMMUNICATIONS, INC. AUDIT COMMITTEE CHARTER This Audit Committee Charter (this Charter ) was adopted by the Board of Directors (the Board ) of GTT Communications, Inc., a Delaware corporation (the
Advanced External Auditing [AU2] Examination Blueprint
![Advanced External Auditing [AU2] Examination Blueprint](/thumbs/72/66594256.jpg "Advanced External Auditing [AU2] Examination Blueprint")
Purpose Advanced External Auditing [AU2] Examination Blueprint 2014-2015 The Advanced External Auditing [AU2] examination has been constructed using an examination blueprint. The blueprint, also referred
2016 INSPECTION OF BHARAT PARIKH & ASSOCIATES CHARTERED ACCOUNTANTS. Preface
2016 INSPECTION OF BHARAT PARIKH & ASSOCIATES CHARTERED ACCOUNTANTS Preface In 2016, the Public Company Accounting Oversight Board ("PCAOB" or "the Board") conducted an inspection of the registered public
OSHKOSH CORPORATION BOARD OF DIRECTORS AUDIT COMMITTEE CHARTER. As Amended as of May 9, 2016
OSHKOSH CORPORATION BOARD OF DIRECTORS AUDIT COMMITTEE CHARTER As Amended as of May 9, 2016 Purpose The purpose of the Audit Committee of the Board of Directors ( Audit Committee ) shall include assisting
Dena Jansen, CPA Partner Maxwell Locke & Ritter LLP
Dena Jansen, CPA Partner Maxwell Locke & Ritter LLP Chapter by chapter Data to improve GAGAS audits Resources 2 Accounting Standards Private Companies FASB AICPA GAAS Public Registrants FASB PCAOB Government
EFFICIENT USE OF AUDIT COMMITTEES
AGENDA EFFICIENT USE OF AUDIT COMMITTEES BRENT YOUNG, CPA JERRY GAITHER, CPA Best practices related to: Audit Committee Process Internal Audit Risk Management 2 AUDIT COMMITTEE PROCESS AND PROCEDURES Audit
SOX and PCAOB. Introduction. SOX Act. In what year did the Sarbanes Oxley Act pass into law?
Introduction SOX and PCAOB Auditing Publicly Traded Companies Enron and other corporate scandals resulted in the demise of Andersen and passage of the Sarbanes-Oxley Act The Act establishes the Public
An Audit of Internal Control Over Financial Reporting Performed in Conjunction with An Audit of Financial Statements
Page A 1 Standard Appendix Auditing Standard No. 2 AUDITING AND RELATED PROFESSIONAL PRACTICE STANDARDS Auditing Standard No. 2 An Audit of Internal Control Over Financial Reporting Performed in Conjunction
An Audit of Internal Control Over Financial Reporting Performed in Conjunction with An Audit of Financial Statements
AUDITING STANDARD No. 2 An Audit of Internal Control Over Financial Reporting Performed in Conjunction with An Audit of Financial Statements March 9, 2004 AUDITING AND RELATED PROFESSIONAL PRACTICE STANDARDS
Types of Systems Audit & Relevance. Presented By: Prasad Pendse, CISA
Types of Systems Audit & Relevance Presented By: Prasad Pendse, CISA Agenda Systems Audit Categories & Types of Systems Audit, Relevance IT & Application Audits Security Audits Process Audits Advantages
CATERPILLAR INC. CHARTER OF THE AUDIT COMMITTEE OF THE BOARD OF DIRECTORS (adopted by the Board of Directors on February 11, 2015)
CATERPILLAR INC. CHARTER OF THE AUDIT COMMITTEE OF THE BOARD OF DIRECTORS (adopted by the Board of Directors on February 11, 2015) I. PURPOSE AND AUTHORITY The purpose of the Caterpillar Inc. ( Caterpillar
The New Service Auditor Reporting Requirements
The New Service Auditor Reporting Requirements ISACA Richmond, Virginia 19 April 2010 Presented by James Merrill, CPA Agenda Introductions Update on the new standards Some terms and definitions` Changes
1. Corporate management (including the CEO) must certify monthly and annually their organization s internal controls over financial reporting.
Chapter 1 Auditing and Internal Control TRUE/FALSE 1. Corporate management (including the CEO) must certify monthly and annually their organization s internal controls over financial reporting. F 2. Both
BEST BUY CO., INC. AUDIT COMMITTEE CHARTER
Approved September 2017 BEST BUY CO., INC. AUDIT COMMITTEE CHARTER Purpose The Audit Committee ("Committee") of Best Buy Co., Inc. (the "Company") is appointed by the Board of Directors ("Board") to assist
GRANITE CONSTRUCTION INCORPORATED AUDIT/COMPLIANCE COMMITTEE CHARTER
GRANITE CONSTRUCTION INCORPORATED AUDIT/COMPLIANCE COMMITTEE CHARTER Purpose The Audit/Compliance Committee ( Committee ) is appointed by the Board of Directors and its purpose is to assist the Board in
UNIVERSAL BUSINESS PAYMENT SOLUTIONS ACQUISITION CORPORATION CHARTER OF THE AUDIT COMMITTEE OF THE BOARD OF DIRECTORS
UNIVERSAL BUSINESS PAYMENT SOLUTIONS ACQUISITION CORPORATION I. Audit Committee Purpose CHARTER OF THE AUDIT COMMITTEE OF THE BOARD OF DIRECTORS The Audit Committee of the Board of Directors (the Audit
ACCOUNTING Auditing and Assurance Services Fall 2009
1 of 10 ACCOUNTING 4240-002 Auditing and Assurance Services Fall 2009 Instructor: Zabihollah (Zabi) Rezaee, PhD, CPA, CMA, CIA, CFE, CGFM Thompson-Hill Chair of Excellence/Professor of Accountancy, Former
Chapter 01 Introduction to Accounting
Chapter 01 Introduction to Accounting True / False Questions 1. Accounting is an information and measurement system that identifies, records, and communicates financial information to users. 2. Bookkeeping
Non-SEC Regulated Charter. Organization. Statement of Policy. Responsibilities
Audit Committee Charter Non-SEC Regulated Charter Organization The Audit Committee of the Board of Directors shall be comprised of at least three directors, consisting entirely of independent members of
FDICIA Reporting for Financial Institutions. Reporting Changes Under Part 363 and SAS 130
FDICIA Reporting for Financial Institutions Reporting Changes Under Part 363 and SAS 130 CONTENTS 02 INTRODUCTION REQUIREMENTS BY TIER 03 03 Management Assessment 04 05 03 Independent Auditors FILING DEADLINES
McGraw-Hill/Irwin. Copyright 2013 by The McGraw-Hill Companies, Inc. All rights reserved.
McGraw-Hill/Irwin Copyright 2013 by The McGraw-Hill Companies, Inc. All rights reserved. Chapter 04 Management Fraud and Audit Risk Learning Objectives 1. Define business risk and understand how management
Guidance Note: Corporate Governance - Audit Committee. March Ce document est aussi disponible en français.
Guidance Note: Corporate Governance - Audit Committee March 2015 Ce document est aussi disponible en français. Applicability The Guidance Note: Corporate Governance Audit Committee (the Guidance Note )
AUDIT COMMITTEE CHARTER DATED AS OF AUGUST 5, 2010
AUDIT COMMITTEE CHARTER DATED AS OF AUGUST 5, 2010 Committee Membership: The Audit Committee of the Board of Directors (the Board ) of KBS Strategic Opportunity REIT, Inc. (the Company ) shall be comprised
PPG INDUSTRIES, INC. AUDIT COMMITTEE CHARTER
PPG INDUSTRIES, INC. AUDIT COMMITTEE CHARTER Last revised September 21, 2017 Audit Committee Composition The Audit Committee (the Committee ) shall be appointed by the Board of Directors of the Company
Accounting Profession and Web Assurance Service
Accounting Profession and Web Assurance Service Mohamed M. El-Dyasty Department of Accounting Faculty of Commerce Mansoura University Mansoura 35516 EGYPT mdyasty@yahoo.com 2004 Accounting Profession and
Guidance Note: Corporate Governance - Audit Committee. January Ce document est aussi disponible en français.
Guidance Note: Corporate Governance - Audit Committee January 2018 Ce document est aussi disponible en français. Applicability The Guidance Note: Corporate Governance Audit Committee (the Guidance Note
F5 NETWORKS, INC. AUDIT COMMITTEE CHARTER AS AMENDED AND RESTATED BY THE BOARD OF DIRECTORS OF F5 NETWORKS, INC. APRIL 21, 2017
F5 NETWORKS, INC. AUDIT COMMITTEE CHARTER AS AMENDED AND RESTATED BY THE BOARD OF DIRECTORS OF F5 NETWORKS, INC. APRIL 21, 2017 PURPOSE The purpose of the Audit Committee is to assist the Board of Directors
OLD DOMINION FREIGHT LINE, INC. AUDIT COMMITTEE CHARTER. A. The Audit Committee shall be comprised of a minimum of three directors.
I. PURPOSE OLD DOMINION FREIGHT LINE, INC. To establish membership, meeting and responsibility requirements for the Audit Committee of the Board of Directors of Old Dominion Freight Line, Inc. (the Company
POLARIS INDUSTRIES INC. BOARD OF DIRECTORS AUDIT COMMITTEE CHARTER Revised January 26, 2017
POLARIS INDUSTRIES INC. BOARD OF DIRECTORS AUDIT COMMITTEE CHARTER Revised January 26, 2017 I. INTRODUCTION AND PURPOSE The primary function of the Audit Committee (the Committee ) is to assist the Board
AUDIT COMMITTEE OF THE BOARD OF DIRECTORS CHARTER
AUDIT COMMITTEE OF THE BOARD OF DIRECTORS CHARTER PURPOSE AND AUTHORITY OF COMMITTEE The primary purpose of the Audit Committee of the Board of Directors (the Committee ) is to (a) assist the Board in
How to Pass an ALGA Yellow Book Peer Review Training by the Association of Local Government Auditors (ALGA) Tampa, Florida September 20, 2013
How to Pass an ALGA Yellow Book Peer Review Training by the Association of Local Government Auditors (ALGA) Tampa, Florida September 20, 2013 7:30 8:00 Continental Breakfast & Registration 8:00 8:30 Section
COLGATE-PALMOLIVE COMPANY AUDIT COMMITTEE CHARTER
March 9, 2006 COLGATE-PALMOLIVE COMPANY AUDIT COMMITTEE CHARTER Purpose There shall be an Audit Committee (the Committee ) which will assist the Board of Directors in its oversight regarding: (1) the integrity
Overview. Understand the concepts of Audit. Understand the need for Controls and internal controls. Understand and apply the principles of audit
Audit Chapter 18 Overview Understand the concepts of Audit Understand the need for Controls and internal controls Understand and apply the principles of audit IT Audit IT auditing is the evaluation of
Preparing for a Headache-free Audit
Preparing for a Headache-free Audit PRESENTED TO SWMSBO Conference 2017 PRESENTED BY Molly R. Fish, CPA PREPARED BY Molly Fish, CPA Date Objectives Understand audit terminology Gain awareness of audit
Audit Committee of the Board of Directors Charter CNL HEALTHCARE PROPERTIES II, INC.
Audit Committee of the Board of Directors Charter CNL HEALTHCARE PROPERTIES II, INC. [Insert CNL logo] PURPOSE The primary purpose of the Audit Committee (the Committee ) is to assist the Board of Directors
Inspection of Petrie Raymond, Chartered Accountants L.L.P. (Headquartered in Montreal, Canada) Public Company Accounting Oversight Board
1666 K Street, N.W. Washington, DC 20006 Telephone: (202) 207-9100 Facsimile: (202) 862-8433 www.pcaobus.org Inspection of Petrie Raymond, Chartered Accountants L.L.P. (Headquartered in Montreal, Canada)
NUCOR CORPORATION AUDIT COMMITTEE CHARTER
NUCOR CORPORATION AUDIT COMMITTEE CHARTER As Amended And Restated December 3, 2014 Membership The Audit Committee shall be comprised of at least three directors, each of whom shall be a member of the Board
Statement on February 2014 Auditing Standards 128. Using the Work of Internal Auditors
Statement on February 2014 Auditing Standards 128 Issued by the Auditing Standards Board Using the Work of Internal Auditors (Supersedes Statement on Auditing Standards [SAS] No. 65, The Auditor's Consideration
AUDIT COMMITTEE CHARTER REINSURANCE GROUP OF AMERICA, INCORPORATED. the audits of the Company s financial statements;
AUDIT COMMITTEE CHARTER REINSURANCE GROUP OF AMERICA, INCORPORATED I. Role of the Committee The Audit Committee (the Committee ) of the Reinsurance Group of America, Incorporated (the Company ) Board of
SOX FOR NPO S Focus on Control. Stephen L. Kuptz, CPA
SOX FOR NPO S Focus on Control Stephen L. Kuptz, CPA Personal Background and Perspective SOX for NPO s Focus on Control 2 Introduction to SOX The Sarbanes Oxley Act of 2002 commonly called Sarbanes Oxley,
NEWMARK GROUP, INC. AUDIT COMMITTEE CHARTER. (as of December 2017)
NEWMARK GROUP, INC. AUDIT COMMITTEE CHARTER (as of December 2017) Purpose The Audit Committee of Newmark Group, Inc. (the Company ) is appointed by the Board of Directors of the Company (the Board ) to
ROYAL DUTCH SHELL PLC AUDIT COMMITTEE TERMS OF REFERENCE
ROYAL DUTCH SHELL PLC AUDIT COMMITTEE TERMS OF REFERENCE Purpose The Royal Dutch Shell plc (the Company ) Audit Committee (the Committee ) assists the Board of the Company (the Board ) in fulfilling its
THE BIDVEST GROUP LIMITED. Risk committee Charter
THE BIDVEST GROUP LIMITED Risk committee Charter 1. Constitution The total process of Risk Management in the Bidvest Group, which includes the related system of control, is the responsibility of the Board
General Technologies Group Ltd
ACC 562, Advanced Auditing Prepared by: Radoslav Petrov Course Instructor: Vaughan, J, CPA Strayer University / RTP, Fall 2008 13 December 2008 Case 2.5 General Technologies Group Ltd Case Summary: This
AUDIT COMMITTEE CHARTER
AUDIT COMMITTEE CHARTER ORGANIZATION AND PURPOSE The Board of Directors (the Board ) of Nabors Industries Ltd. (the Company ) has established the Audit Committee of the Board to carry out the duties and
FIAT CHRYSLER AUTOMOBILES N.V. AUDIT COMMITTEE CHARTER
FIAT CHRYSLER AUTOMOBILES N.V. AUDIT COMMITTEE CHARTER For so long as shares of Fiat Chrysler Automobiles N.V. (the Company ) are listed on the New York Stock Exchange ( NYSE ), the rules of the NYSE and
Presenter: CPA CATHERINE MUEMA
Presenter: CPA CATHERINE MUEMA ISA 230 requires an auditor to prepare audit documentation that is sufficient and appropriate to support the basis for the Auditor s report and confirm that the audit process
FRD hours "Financial Statement Fraud - 2nd Edition"
FRD106-20 hours "Financial Statement Fraud - 2nd Edition" Objectives Financial Statement Fraud, Second Edition not only explains in understandable language how financial schemes are committed, it also
Nonprofit Association of the Midlands. August 26, 2014
Nonprofit Association of the Midlands August 26, 2014 Nonprofit Financial Management General Practices Capable bookkeeper Accrual accounting GAAP Monthly financial statements Sarbanes Oxley: Financial
Test Bank Auditing A Risk Based Approach To Conducting A Quality Audit 10th Edition
Test Bank Auditing A Risk Based Approach To Conducting A Quality Audit 10th Edition Full download: https://testbankarea.com/download/auditing-risk-basedapproach-conducting-quality-audit-10th-edition-test-bank/
CAAS 104 Cost Audit and Assurance Standard on Knowledge of Business, its Processes and the Business Environment
CAAS 104 Cost Audit and Assurance Standard on Knowledge of Business, its Processes and the Business Environment The following is the Cost Audit and Assurance Standard (CAAS 104) on Knowledge of Business,
REGULATORY HOT TOPIC Third Party IT Vendor Management
REGULATORY HOT TOPIC Third Party IT Vendor Management 1 Todays Outsourced Technology Services Core Processing Internet Banking Mobile Banking Managed Security Services Managed Data Center Services And
CHARTER OF THE AUDIT, FINANCE AND RISK COMMITTEE OF THE BOARD OF DIRECTORS OF ACE AVIATION HOLDINGS INC.
CHARTER OF THE AUDIT, FINANCE AND RISK COMMITTEE OF THE BOARD OF DIRECTORS OF ACE AVIATION HOLDINGS INC. 1. Structure, Procedure, Qualifications The Audit, Finance and Risk Committee (the Audit Committee
Chapter 06. Audit Planning, Understanding the Client, Assessing Risks, and Responding. McGraw-Hill/Irwin
Chapter 06 Audit Planning, Understanding the Client, Assessing Risks, and Responding McGraw-Hill/Irwin Copyright 2012 by The McGraw-Hill Companies, Inc. All rights reserved. Obtaining Clients Submit a
Special Inspection of Seale and Beers, CPAs, LLC (Headquartered in Las Vegas, Nevada) Public Company Accounting Oversight Board
1666 K Street, N.W. Washington, DC 20006 Telephone: (202) 207-9100 Facsimile: (202) 862-8433 www.pcaobus.org (Headquartered in Las Vegas, Nevada) Issued by the Public Company Accounting Oversight Board