Internal jugular vein

Auditors determine whether a company’s financial statements are presented fairly and accordance with the financial reporting framework. When providing auditing and other attestation services, an auditor should be independent. Amanda was assigned to audit LAW LLC financial statements. Amanda was faced with an ethical dilemma when LAW LLC’s audit report showed little evidence of the different assets on its balance sheet. Also, LAW LLC violated their loan covenant which due whether it was on the…

This act also put responsibility on the management to establish and maintain internal control of financial reporting which can also increase the credibility of the financial statements and create a sustainable internal control environment. Further, it requires that their financial reports include a statement about their code of ethics of senior management. And the reason if they don’t have code of…

Professional indemnity insurance pays for negligence claims. When a professional gives out inaccurate information, he may be responsible for damages. For some careers, professional indemnity insurance is a government requirement. What Does Professional Indemnity Insurance Cover All professionals should purchase professional indemnity insurance. When dealing with the general public, liability insurance is a necessity. Personal injury claims and structural damage can be covered under a general…

It is the most contentious aspect of the bill, where it requires management and the external auditor to report on the adequacy of the company’s internal control on financial reporting (Wang, 2008). One of the issues Chowdhury (2007) raised, about the cost-effectiveness of the bill, is posed in this section as this is the most costly aspect of the legislation for companies to implement. To help ease…

Throughout this lab the goal was to figure out the enthalpy of combustion of magnesium. Enthalpy (H) is the energy stored in a substance during its formation. The amount of energy that may be absorbed or released when a chemical reaction takes place is known as the change in enthalpy (ΔH). If a reaction absorbs heat, then it will be positive number and will be called an endothermic reaction. If a reaction releases heat, then it will have a negative number and will be called an exothermic…

With certain people, Hamlet is resolved to get revenge for his father’s death. With other people, this thought is the last thought in his mind. If he had any of the resolve he had showed earlier, his act of revenge would have already been completed. Instead of playing the part of the vengeful son, or dropping the issue entirely, he spends the entire act “slacking off';. He avoids the decision he has to make and pretends to be mad. This is shown when he says to Rosencrantz and…

According to Louwers et al, the authors of the book “Auditing and Assurance Services, control environment is defined as the foundation for all other components of internal control on which an effective system of internal control is built and operated by an organization. It serves as a guide to all participants and stakeholders. Control environment includes three important factors; integrity, ethical values and competence of the entity’s people. There are several aspects of the control…

Some internal control issues that were recognized in the audit of Smackey Dog Food Inc.. 1. Giving commissions to the sale people based on estimated sales. This internal control issue presents risks to the company’s financial resources as the sale people might and have been paid for sales not made, there is no refund policy in place for…

TO: Gregg Cash FROM: Jihee Kim TITLE: Conclusions from Tech Gadgets Liquidation Dear Mr Cash, You have requested advice on the matter of Tech Gadgets Ltd. Your questions, my answers to those questions, and the reasons for our answers are set out below. Question 1 Issue: Which persons and/or entities are a director of Tech Gadgets Ltd for the purposes of the directors’ duties in sections 181-183 of the Corporations Act 2001 (Cth)? Law - s 181: Act in good faith in the best interests of…

The stakeholders for Goldman Sacks Corporation include the elderly couple, as investors and the CPA financial advisor as the employee of Goldman Sacks. As a CPA, the financial advisor must adhere to the AICPA Code of Professional Conduct as well as act in the most ethical way. The Code of Professional Conduct requires one to perform due care, competence, professional skepticism and professional judgement. The preferred products sold through Goldman Sacks come with the best commissions and as the…