Financial audit

“Why We Hate HR” is an paper, written by Keith H. Hammonds, that has four main points that support the title. The first point states that human resources (HR) personnel are not the smartest. Hammonds goes on about how the people that end up in HR are people that do not understand the business. Hammonds’ second point is “HR pursues efficiency in lieu of value.” Hammonds suggests that there is no point in doing activities unless they add value. The third point is about how HR people do not take…

2008), the court found that the Word documents in question contained recommendations to clients that were routinely know and utilized throughout the financial planning industry. Id. at 22. The Excel templates consisted of a tax projection template based on IRS formulas and retirement income templates which contained formulas routinely used by financial planners. Id. The court held that since the documents and templates were readily known to the industry and given to many clients for then to…

Richard Chambers authored “Champions of Trust: By Modeling High Standards of Ethical Behavior, Internal Auditors Can Help Shore up Faith in the Organizations They Serve” and argues that ethics are the foundation of trust. Especially regarding big businesses, internal auditors maintain the responsibility to the shareholders to present honest information and bravely act with integrity. The article compares internal auditors to referees who must promote objectivity and address infractions when they…

Investigations As investigations are all about gathering evidences, the combination of using theft act investigation, concealment investigation and conversion investigation would achieve to uncover the fraud. Theft Act Investigation To investigate the false refunds, the investigator should combine invigilation and surveillance techniques to uncover the fraud. Invigilation Invigilation would be helpful to uncover the fraud because the opportunities of stealing money would be cut off during…

long as the IT Audit director meets AT §101.51, they should have the ability to reject any change. If the IT audit director can provide sufficient evidence to prove a reasonable basis for wanting to delay implementation of a change, she should have that power. With that said, there needs to be a policy in place to govern changes to production. Changes need to be properly evaluated and authorized before implemented. This is not an appropriately designed control procedure. The IT Audit Director…

Employment Outlook The employment outlook for accountants and auditors is expected “to grow 11 percent from 2014 to 2024, faster than the average for all occupations” (Bureau of Labor Statistics, U.S. Department of Labor). This could be a good indicator that the economy is growing and businesses are looking at future growth and preparing for it. The outlook locally in the state of Idaho on the Idaho.gov website shows there are 83 job postings for accountants and auditors with bachelor’s degrees…

The Internal Affairs is responsible for receiving processing, assigning an investigation to any alleged misconduct by any members of the police department. The Internal Affairs investigation team receives complaints from any citizens, employees or anonymous source and will conduct investigation thoroughly and objectively. The administrative process of dealing with complaints whether they are internal or external, must be handled and investigated in accordance with the organization’s policies and…

the Auditor General (OAG) perform legislative audits, which include: financial audits, performance audits and special examinations. The OAG audits the federal government, crown corporations and territorial governments. Within the OAG is the Commissioner of Environmental and Sustainable Development. The Commissioner is Julie Gelfand and she is responsible for any environmental matters and performance auditing. Since the OAG inspects all government financial statements it encourages accountants to…

the different type of audits that public school districts undertake and describe each. (a) External Audits in general reviews the resources and operations of the school district. This type of audit is to ensure that there is compliance with the policies and provides a credible evaluation of the resources and operations. It is conducted by external certified auditors. There are 3 subcategories of audits that falls under external audits. The first being a financial compliance audit. A…

has the responsibility to plan and perform the audit to obtain reasonable assurance that the financial statements are free of material misstatement whether caused by error or fraud. The Auditor has standards of fieldwork that should be used as a guide to fulfill their responsibility. These standards are covered in SAS 99. Fraud is the intentional act that results in a material misstatement in financial statements that are the subject of an audit. There are two types of misstatements relevant…