Model Audit

Under ASQA’s new audit model, five main features of students’ experiences will be focused: • RTO marketing and recruitment: during students recruitment process RTO and its marketing personnel should not provide student service agents and students with misleading information and ensure they are authentic, honest and original. In this context prospective students should be receiving the information which reflect the RTO’s policies and procedures, required performance and behaviours that need to follow. These information include required student attendance, study progress requirements, misconduct behaviours, academic requirements, overseas student working rights and limitations and complaints appealing procedures. RTO designs these policies and procedures under the guidelines of Standards for RTOs 2015 and relevant federal, state or territory legislations. In addition RTO should utilize its marketing promotional brochures in a professional and ethical…

Financial Statement Fraud Company financial statements provides information that is utilized by investors to evaluate the conduct of managers and to compose economic arrangements (Chinniah, 2015, p. 1). The consumers of the financial statement may consider the financial information received as dependable and appropriate for its function (p. 1). Chinniah indicates accounting standards and regulations have been put in place to try to certify the financial information provided is consistent with…

My choice of the company to base on in my financial statement analysis is the Walt Disney Company. This is a company that mainly deals with the entertainment industry by animation.Its aim are to become, in the nearest possible future one the leading providers of entertainment and information to their various audiences. This is done by their various efforts to invest in creativity so that they are able to pull more audiences towards their works of art. Their commitment to creativity and…

The Snowball Effect of Intercorporate Transfer Pricing Many different companies around the globe participate in transfer pricing. It is more common than many people would guess because of the growth in multinational corporations but also in regards to acquisitions. Transfer pricing occurs when related parties exchange for goods. They are only useful for tax purposes so therefore should only be apparent on the parent’s financial statements. Throughout our research on intercorporate transfer…

Imagine a world without accounting. Would businesses still be able to operate and function? How would they know if they know what Would businesses still exist. Accounting information is a fundamental part of accounting it allows businesses to know where they financially stand. Accounting is a system that was specifically constructed and developed to record data, the field of accounting has developed over the years and is a key part of keeping society in order; it is a vital tool. The objective…

Generally, you will need to have a strong background of analytical and quantitative skill for all departments. The controller division usually hires undergraduate students who have majored in accounting or finance. Controllers usually look for individuals with strong background to US GAAP accounting standards. Preferred candidates usually have a Certified Pubic Accountant (CPA) designation. The qualifications for an FP&A analyst consist of data consolidation, variance analysis, and financial…

Program Audit The program audit, whose components are: foundation, delivery system, management system, and accountability, is utilized to evaluate the school counseling program in comparison to the standards set forth by the American School Counselor Association (ASCA) National Model. Analyzing the data from this audit helps counselors create goals to implement in the future (ASCA, 2012). Additionally, as part of the ASCA National Model accountability component, counselors must measure the…

auditing standard and related amendments to enhance the auditor 's reporting model were proposed for public comment by the U.S. Public Company Accounting Oversight Board (PCAOB) on 13 August 2013. Changes to the audit reporting model require auditors to provide additional information to investors…

accounting estimate and fair value measurement. Based on the audit risk model, the planned detection risk will be low-level (Arens et al. 2013, p.234). Because the higher inherent risk related to the lower planned detection risk (Arens et al. 2013, p.234). Thus, this will impact on the evidence mix for the audit planning.…

the auditors of public companies, the PCAOB implements a risk-based approach to assess audit engagements. The inspection uses high-risk samples to evaluate an auditing firm instead of random samples. There are some criticisms about this risk-based approach. For example, this method may not represent a firm’s average audit quality since it focusses on some difficult audits (Church and Shefchik, 2012). However, I think it is fair from…