ENTITIES Final Report TECHNICAL COMMITTEE OF THE INTERNATIONAL ORGANIZATION OF SECURITIES COMMISSIONS FEBRUARY 2010 CONTENTS Chapter 1 Introduction Uses of Annual Reports Scope Presentation Glossary of Defined Terms Principles for Periodic Disclosure by Listed Entities A. Periodic reports should contain relevant information B. For those periodic reports in which financial statements are included, and should state that the financial information provided in the report is fairly presented
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opinion for the organization’s financial report. What precisely can an auditor ascertain from the examination of an organization’s financial report, and what can the audit provide? According to Merriam-Webster, 2014 an audit is a stylized scrutinization and verification of an organization’s or individual’s financial reports or financial position. This procedure is deemed crucial for the verification of the exactness of an organization’s financial reports. Based on information provided by
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ACCG 224 Report: Fairfax Media Limited 28th April 2014 (4pm) Juhi Agarwal Student Number: 42462843 Tutorial Class: Thomas Kern – Thursday 5pm-7pm Word Count: 2183 Contents: Executive Summary………………………………………………………………………….3 1. Introduction………………………………………………………………………………..3 2. Body……………………………………………………………………………………..…... 2.1 – A – Objective of GPFR and qualitative characteristics..……………….…….3, 4 2.2 – B – Disclosure requirements for PPE as per AASB116…...…………………….5
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corporations. Under SOX, companies are held accountable if they fail to maintain the requirements that were set forth in the act. The act requires companies to maintain satisfactory internal control measures, provide responsible financial reports, disclose periodic reports, and establish rules for annual reporting. (Hazels, 2010) These requirements are all part of the Generally Accepted Accounting Principles (GAAP). Corporations and accounting firms should have already been practicing these principles
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| Elevating Professional Judgment in Auditing and Accounting | | | | 9/17/2014 | | The demand for good judgment is high but the reality is most people receive very little formal training in what good judgment looks like or what may threaten good judgment. KPMG developed a training tool to enhance the professional judgment for all levels of audit professionals. The need for this training is a result of the economy, the use of fair value measurements, and changes in regulations
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in all material respects, the financial position of Diamond Foods, Inc. and subsidiaries as of July 31, 2012 and 2011 …” However, due to the discovery of the accounting scandal, the firm subsequently restated its opinion in its 2013 audit report: “Also in our opinion, the Company did not maintain, in all material respects, effective internal control over financial reporting as of July 31, 2013 …” In the company’s restated financial statements of 2012, the company stated that an internal
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Chapter 2 Literature Review 2.0 Introduction The quality of the audited report is an important and basic aspect for ensuring the credibility of the financial statements to those related parties such as investors, creditors (Shafie, et al., 2009). Generally speaking, this will not appear if auditors are not independence. The whole audit progress would be argued that the auditor had given the bias opinion to the client if there was no independence. Therefore, the accounting profession such
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IMPORTANT AICPA INFORMATION ON SARBANES-OXLEY |How the Sarbanes-Oxley Act of 2002 Impacts the Accounting Profession (AICPA) | | | | | |
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Memo: Why do Audits Fail? Evidence from Lincoln Savings and Loan This study done by Merle Erickson, Brian Mayhew, and William Felix describes and examines the audit procedures applied to a set of material transactions from the Lincoln Savings and Loan audit failure. They suggest alternative procedures, based on information available to the auditors at the time of the LSL audit. The study also provides a starting point for future research to evaluate the conclusions reached using more controlled
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United States Surgical Corporation Prepared by Alex Gonzalez & Daniella Trinchet for Professor C.E. Reese in partial fulfillment of the requirements for ACC 540 – Fraud Examination School of Business / Graduate Studies St. Thomas University Miami Gardens, Fla. Term A7 / Fall, 2014 October 24th, 2014 Table of Contents Issues 1 Facts 2 Analysis 5 Conclusions/Recommendation 12 References/Bibliography 14 Issues 1. What audit procedures
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