Global Competitiveness Report

investors’ confidence one again, Congress created the Sarbanes-Oxley Act of 2002 to prevent future frauds from happening (page. 16, 2016). This act made the audit profession important to society. Why is Audit important to Public Traded Company? Audit reports are required…

Audit risk evaluation and planning materiality for the audit of “2016 Annual Report” Toshiba Corporation A. Introduction The auditor must assess client risk and perform audit planning after accepting client engagement. The assessment includes understanding the client, identifying factors impact the risk of a material misstatement, performing a risk and materiality assessment and developing an audit strategy (Moroney, Campbell, & Hamilton, 2014). This essay will discuss what the inherent risk…

The Daily Show - Consequence-Free Speech Stewart John during this podcast criticizes an NBA sports and political personnel. The structure itself comes from a network named “Comedy Central’. Compared to our podcast, The Daily Show had focused far more on criticisms. The main genres that the podcast focuses on is politics and comedy. The comedic touch towards the podcast was that he was able to keep audiences entertained by making a humorous atmosphere with jokes and mocking other people while we…

public, so most often than not the audit report is likely to be disputed or lack integrity. It is therefore important for the auditors demonstrate an ethical behavior in dealing with their clients to instill the confidence and integrity of their audit…

What is Sears’ management trying to achieve through decisions with respect to financial reporting for uncollectible accounts? Management’s objective was to find alternatives to better manage the way credit card charges were collected. The new system that was being used allowed the company to charge off customers’ accounts that neglected to make a payment within eight billing cycles. The intention of the new system was to assist the company in better managing their collection efforts giving them…

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.…

Forensic Accountants are accountants who conduct investigations, know how to use various computer programs and communicate well with others. Some forensic accountants specialize in specific industries that are susceptible to fraud. Insurance and banking industries are considered a higher risk for fraud. These accountants learn their business practices of these fields in order to understand what is happening and be able to stop the fraud. They need to be discrete when they are conducting…

need to be analyzed. Next step will be to finding out if there are any conflict between stakeholders. I will collect the complete financial transaction information from all relevant sources for current year and also go through the last years audit reports and tax details. Consider all the ethical issues involved and find out how these ethical issues are affecting the personal or public interest of someone. Like if anyone is getting benefit form any wrong…

Post World War II, the Homophile movement was consciously disavowing openly homosexual acts in attempt to shift the attitudes of social majority by shaping an image aligned with –philia (fondness and love) in opposed to sex (Suâarez 127). Meanwhile, filmmakers under the scrutiny from Motion Picture Production Code were made to abide by the rules of “don’ts and be carefuls”, unable to employ passionate, sexual, and “pervasive” scenes in the plot (Mondello). During this time, Kenneth Anger made…

Weak internal controls enable management to manipulate earnings and disclose false financial reports. To fix the problem generally, companies is required to have an objective and a competent internal auditor. According to AU section 332.03, internal auditors are responsible for providing analyses, evaluations, assurances, recommendations, and other…