Auditor's report

COMPLAINCE WITH RULES AND REGULATIONS The duties performed by the AC are essential in evaluating effectiveness. The Treadway Commission Report requested for a written charter for every AC outlining their duties and responsibilities. It is expected that detailed charters should be prepared so as to assist ACs in carrying out their duties effectively. The Treadway Commission Report stated that such a charter would ensure that committee members were aware of their duties and responsibilities and…

KPMG’ explicit responsibilities for auditing MS&Co included: • KPMG’S audit Procedures relative to MS&Co’s assets at BAC were to obtain a confirmation from BAC of assets on held on MS&Co’s behalf • To search public records to ensure no adverse issues were noted for BAC relating to any regulatory actions. In September, 2014 MS&CO’s investors and creditors initiated a lawsuit against their auditors, KPMG, on the charge that they conducted a substandard audit, while also failing to follow GAAS.…

On July 30, 2002, Congress passed with a near unanimous vote what is considered by many to be “the most comprehensive financial reporting legislation since the Securities Acts of 1933 and 1934” (Louwers at al., 2015). The Sarbanes-Oxley Act of 2002, commonly referred to as “SOX”, was named after its two main creators U.S. Senator Paul Sarbanes and U.S. Representative Michael G. Oxley. The Sarbanes-Oxley Act has a goal “To protect investors by improving the accuracy and reliability of corporate…

1. What clues caused Jane to suspect that fraud was involved? The first clue that Jane came across as suspicious was that some of the checks did not have a complete endorsement from the collectors. This would be suspicious because if a check was cashed without having the necessary endorsements there must be a breach in the company’s internal controls. After looking further into the situation Gus and Jane notice that along with the endorsement problem the signatures of several different…

engagements as well as quality controls at audit firms performing those audits. The PCAOB reports to the Securities and Exchange Commission. (Auditing and Assurance Services) The PCAOB has an obligation to do these duties and…

‘How important is productive classroom practices in our schools and is a teacher in a mentoring role a necessary compenent to reach this ? What is high quality teaching and how is it recognised?’ The Victorian Auditor’s-general’s Report: Managing Teacher Performance in Government Schools, 2010, p.36) states simply good teaching has a positive effect on student learning and achievement. Bad teaching has a negative effect on student learning and achievement. Schools and their teachers need to be…

Information security Audit Services Information Security Audit Services Manage Legal and Security Issues Compliance has become a four-letter word in many of today 's organizations where IT audit findings could costs thousands of dollars, interrupt business, generate fines and damage your reputation. Depending on your industry, you might be required to demonstrate security procedures, track internal processes, coordinate departments for systemwide audits or upgrade your security capabilities to…

Introduction Thank you for your consideration on potentially interested in having audit for your company, Scottish Treats Ltd and reaching out to our firm. The queries you laid out in your letter are a great sources of information in order to determine that the company needed in having an audit. In the next part of the letter, I will be explaining the answers to your queries and clearly clarify whether the company need in having an audit. The information for the company hoping to go for listing…

Evidentiary privileges shall be governed by the principles of the common law in the light of reason and experience. It is aimed to encourage full and frank communication between attorneys and their clients to promote public interest in the observance of law and administration of justice. Attorney-Client Privilege It is the Client’s right privilege to refuse to disclose or prevent others from disclosing confidential communications between the client and the attorney. Here, Carolyn (C) hires…

Here are the compliance concerns/questions that I think we need to investigate (You may have already done this): How did anyone know of Ms. Preston’s compliance link? Does the sales person on the account have a history of compliance issues? Who wrote the letter? The client or the Sales Rep.? Did Jeanne forward you the letter from the client? Who are the BRLI players invovlved? My questions for each BRLI employee involved would be (including Gail Colon): Confidentialy --Did you ever…