Energy audit

OCM is concerned primarily with marketing activities of Allround brand and any line extensions or new product introductions. Brand Management Group at OCM Marketing management group responsible for Allround consists of brand manager, assistant brand manager, and brand assistant. Brand assistant has major inputs on decisions related to retail price, promotional allowances, consumer and trade promotional expenditures, advertising expenditures, and number of direct and indirect sales force…

Rules and Regulations After the establishment of the SOX, SOX then created the PCAOB to directly observe an auditors’ work (Elder, Zhang, Zhou, & Zhou, 2009, p. 544). The PCAOB implemented several auditing standards intended at guaranteeing adequate audits in affiliation to SOX 302 and SOX 404 (Mundy & Owen, 2013, p. 185). Mundy and Owen point out that the PCAOB auditing standards assist to recognize the procedures and measures, whether they are manual or automated, that should be audited in…

Tyco) in the early 2000’s. These scandals forced capital providers and the general public to question the judgement of public accounting firms as well as at the overall reliability of the financial reporting and audit process. The requirements included in SOX were designed to improve audit quality, increase the reliability of financial reporting, bolster corporate governance, and re-establish public and investor confidence in the financial reporting process. Some of the most impactful aspects of…

allocating the blame to the auditors by questioning their extent of their testing of controls and transactions. As a result, in an article written by Barry N. Winograd and Robert H. Herz in 1995, they gave auditors insight on how they could better audit derivatives. First, they should fully understand the entity’s use of derivatives and in order to do so, “the auditor must be sufficiently involved with operational areas outside the financial reporting group, most notably the treasury function”…

After pronouncing judgment in Ghasi Ram on February 7, 1968, Hidayatullah, J., decided Om Prabha Jain v. Abnash Chand on the same day dealing with the same issue, i.e., whether making of discretionary grant by a Minister on the eve of election amounts to bribery or not. Applying the test laid down in Ghasi Ram, i.e., "that a Minister in the discharge of his duties may be required to do some acts of administration including the granting of money for the uplift of a certain communities and this…

Tanglin Polymers Case Study Why do you think so few requests were received? From a clear analysis of the case, it is evident that Tanglin Polymers was facing great managerial issues that affected the financial status of the company. In regards to the approval requests expected by Chan Kee Tong, it is clear that the plant managers were ignorant, as they did not treat the request email seriously. Ignorance in the management team is a great problem for most organizations that seek to enhance their…

use in the work field to advice Merry Go Round retailer , and its explains why they violated some of the GAAS. However, the second part of the case is about the Ethical demission of the audit work that E&Y are failed to conduct in their work with MGR. 2-27: Merry-Go-Round Part I a. Although this was not an audit engagement for E&Y, some of the allegation against the firm can be framed in terms of the 10 generally accepted auditing standards. Which of the 10 GAAS was E&Y alleged to have…

Assignment #2 There are numerous concerns in Jim Jensen’s approach to resolving his team’s customer service difficulties. Prior to conducting research, Jensen does not collect any information from his sales staff or other colleagues. Instead, he assumes the customer complaints are due to his team’s inadequacy in providing satisfactory customer service. This assumption is a substantial flaw in Jensen’s process. There may be other reasons why the number of customer complaints has increased such…

Audit committee was a standing committee that oversees key objectives of the company such as financial reporting, internal control, and audits to be in compliance with laws and regulations, and also help set an ethical tone at the top. The committee’s main role was to control and review the company effectiveness. Audit committee included a selective list comprising of three, five or seven directors who were not a part of the company management. Each audit committee should have at least one…

elaborate scheming of Philip Musica and his family. They concocted this whole plan to make it seem real when it was all false. Finally, this fraud case “led to the adoption of Generally Accepted Auditing Standards, including the concept of an independent audit committee” as well as “having auditors personally inspect inventory to verify its existence” (Fox). This improved the auditing quality and the accounting…