Essays on Audit

Enron And Arthur Andersen Research Paper

Enron Company by Kenneth Lay in 1985 began its operation after the merger of two companies, Houston Natural Gas and InterNorth Company. Under Kenneth Lay as the Chief Executive Officer of the company, the company started hiring employees. The company had a significant number of 21, 000 employees and an outstanding production performance. Its headquarters was situated in Houston, Texas. After the merger of the two companies, Enron was praised for its effective strategies of penetrating the market and acquiring a significant income. Its main objective was to create market for further expansion and diversification. The company employed some

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5 Pages

Research Paper On Q 3 Company 1

AMR Corporation

– AMR Corporation is a conglomerate airline company incorporated in Delaware, October 1982. AMR’s principal subsidiary is American Airlines, founded in 1934.
– The name of AMR’s external auditing firm was Ernst & Young LLP, Dallas Texas office.
– The main reason for the bankruptcy filing was to restructure the debt and costs that had become a competitive disadvantage to AMR. Labor costs, volatile fuel prices, and economic uncertainty were the main drivers in this cost disadvantage. Furthermore, AMR’s competitors had previously filed for Chapter 11 bankruptcy in order to accomplish the same goals through restructuring.
–

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2 Pages

Method Research Proposal Examples

Abstract

The determination of how reliable and comparable the results are from the use of a hand hygiene observation tool between two auditors

Background

Hospitals are required to observe and record the activities of health care providers to ensure the safety of patients. Observing, recoding and analyzing several HCPs simultaneously to ensure they wash hands before and after attending to patients can be demanding. The Handy Audit electronic tool only requires an auditor to enter her observations, while the tool records, analyzes and reports hand hygiene fulfillment practices by relying on subjective data entered by the auditor enters; making it more

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English Language

1 Page

Case Study On Tim Hortons Auditing Planning

Tim Horton’s internal audit plan is conducted by the accounting staff to provide specific guidelines to be used by the management review team and private certified public accounts to carry out accounting processes. The audit plan consists of several phases and these include planning, fieldwork, a take notes meeting and a counteractive audit. Planning processes are the most important step in ensuring a successful internal audit. Tim Horton Inc. operations include the development and franchising of quick service restaurants principally in the United States and Canada serving premium coffee, fruit smoothies, soups and other food products. As a

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Time Management

2 Pages

Justification Of The Schedule Changes Business Plan Example

Management

Introduction
This paper provides a clear insight into the changes made on the baseline schedule as well as the justification for the changes. The project involves assessment of an opportunity and it is expected that a regularly presentation to the executives is fulfilled on a monthly basis. However, the senior executive presentation had been previously scheduled after two months of the project inception. It is pertinent to note that the results of an audit will be instrumental in guiding the rescheduled presentation to the executives. Moreover, for the organization to enhance its competitive advantage the current projects timelines must

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2 Pages

Example Of Essay On Software Security Assessment

Software Vulnerability Fundamentals

– Vulnerabilities
– Refers to weaknesses that exist in software and which attackers exploit to their advantage (Dowd, McDonald, and Schuh, 2007). Vulnerabilities can result from implementation, configuration, or design.
– Implementation: Vulnerabilities will result because of protocol flaws, fault software design or incomplete testing (Arregoces and Portolani, 2003).
– Configuration: According to Arregoces and Portolani (2003) use of default, settings increase the occurrence of vulnerabilities in the software.
– Design: Poor security designs in software or inappropriate implementation of redundancy mechanisms promote vulnerability (Arregoces and Portolani, 2003).
– Necessity of Auditing
Auditing is aimed at analyzing software or

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3 Pages

Example Of Ethics Audit (Citibank) Research Paper

Introduction

Actions are essentially dictated by the values. Identifying both actual and proclaimed organizational values will actually assist an institution guarantee that all of its actions are indeed commensurate with these values hence this will enable such an institution initiate a robust structure that is essential in supporting values operationalization. Various ethical issues for institutions and especially international ones arise due to differing value systems. For that reason, ethical audit will fundamentally enable an institution establish guidelines that are clear about acceptable behavioral limits.
Ethics audit refers to the systematic evaluation of the ethics programs or performance of an organization

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6 Pages

Note Case Study Sample

Mission statement

The mission of the company is to perfect the personal leisure experience
The main purpose of the or business of the company is provision of leisure and airline services to its customers.
The business consists of hotels and apartments which are meant to provide leisure to the customers
The company is also engaged in wedding preparations
SWOT ANALYSIS
The main strengths of the company is the provision of leisure of activities in the tourism sector
The weaknesses of the company rest on the debts of the company because the company is experiencing a lot of debts
The company a

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4 Pages

Research Paper On Different Levels Of Accounting Reports

In accounting, a firm has the option of reporting in three different levels. It should be appreciated that all the three levels are important in the overall accounting process and that each level plays a complimentary role to one another. The three levels of accounting are as follows: compilation, review and auditing. The paper shall discuss each level with a brief explanation of what they entail.
The accounting reporting process begins at the compilation level. Compilation refers to the process in which accounting entries are made and the accounting statements of accounting statements are prepared. It is in this

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Professionalism

2 Pages

Audit Plan Report Example

Bombardier Inc.

Material Transactions and Material Cycles involved
Bombardier incorporated engages in a number of transactions in a diversified portfolio of investing activities. However, the plan should concentrate on the following material transactions:
Manufacturing transactions- these is in relation to the commercial airline production and the subsequent deliveries. They account for over fifty percent of the revenues and, therefore, inform a central portion of the overall company operations.
Services – in addition, the company also delivers servicing to airlines in large volumes. The audit ought to cover these services as well.
Joint Venture with BT- it is acknowledged in the report that

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1 Page

Free Essay On The Enron Scandal

Introduction

It is a requirement for all the financial institutions to be accountable for their financial activities and present their financial statements in such a way that they are not fraud. This means that they have the mandate to provide financial information that is trustworthy and reflect the mission of the entire institution or company. However, this has always not been the case where in some cases various financial corporations and companies try to present financial documents that do not reflect their shareholders’ interest. Because of this, the stakeholders who have interest in them are only left frustrated hence, lose

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6 Pages

Sarbanes-Oxley Act 2002 Research Paper Example

Answer to a.

In the year 2002, Congress passed the Sarbanes-Oxley Act, also known as SOX. The purpose of the Act is to emphasize regulatory standards to be maintained by public accounting firms, and the management and board of public companies. The top management and board of corporations are accountable for their company’s financial dealings and records. They are obliged to pledge the validity and accuracy of the financial data maintained by them. Further, the Act specifies severe penalties for organizations indulging in fraudulent financial practices. Finally, the ACT empowers third party auditors who evaluate the accuracy and authenticity of financial

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Entrepreneurship

3 Pages

Free Essay On Consumer Behavior Audit

Consumer behavior is the study of organization, individuals or groups and the procedure they use to select, protect and put into use products and services to gratify the needs ofconsumers and the impacts of processes on the customers and the society. It broadly tries to explain and understand the decision-making processes of the retailers, as an organization or individually. Lastly, consumer behavior analyses the behavior of the customers and the influence of groups such as families and friends to the customers.
Consumer behavior audit is important to the organization. First, it is an essential part of the marketing preparation

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Consumer Behavior

1 Page

Example Of Case Study On Stanford Financial Group

Introduction

R. Allen Stanford, through the Stanford Financial Group, was involved in a financial scam in which investors lost an estimated $ 7.2 billion. This was through a massive ponzi scheme in which the Stanford financial Group offered investors a return on their investments which was higher than market rates. The investors were misled into believing that their investments were made conservatively.
Fraud was committed through the issue of certificates of deposit to investors through the Antiguan bank which was a subsidiary of the Stanford Financial Group. These certificates of deposit sold to investors were later discovered to be bogus.

Claims against Stanford’s auditors

Stanford’

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White Collar Crime

2 Pages

Auditing Essay Examples

Auditing is important in all organizations in the world since it enables the preparers of financial statements to provide a true and fair view of these documents. In addition, auditing enhances transparency in reporting. It also ensures that there is little or no manipulation of accounts in the organization (Arens 2). One of the important aspects in auditing is the audit risk model. This model explains the various risks that are associated with auditing. The model describes risk as the probability that there will be inappropriate use of auditor’s independence in the provision of opinions regarding financial statements.

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Internal Control

4 Pages

Essay On Self Audit Program

SELF AUDIT PROGRAM

I work in a firm that manufactures plastic products from recycled items. This company has the responsibility of producing products that meet environmental standards by ensuring that all processes are designed with environmental safety in mind. I have the responsibility of ensuring that the safety of employees in the whole organization is guaranteed. It is a relatively small firm with just twenty employees who play different roles in the various departments of the organizations.
One of the most important processes in the production of these recycled products is the exposure of raw materials to high temperature in order to

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1 Page

Essay On Self Audit Policy

SELF AUDIT POLICY

OSHA’s Voluntary Self-audit Policy is aimed at encouraging employers to maintain safe working environment for their employees among other concerned parties. The main aim of this program is to encourage as many employers as possible to stay committed to maintaining high safety standards within their premises. This policy covers all employers whose businesses have potential negative effects on employees should there be any breach of safety standards.
Among the provisions is the fact that for employers have voluntarily put in place self audit programs; the agency would not by any chance frequently request for these audit repots and

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1 Page

Ethics and Reputational Capital Essay Example

Introduction

Ethics is a concept that is required in every situation of our lives. In addition, it is referred as moral philosophy. In general terms, ethics is a branch of philosophy that deals with values relating to the human conduct, with respect to the wrongness or rightness of given actions. The chapter raises a question about whether codes of ethics can build corporate ethics that are true. According to Eric Krell, one of the chief goals of human resource office in a corporate is to build corporate ethics that are true. This is only possible through code of ethics. The

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Entrepreneurship

2 Pages

Importance Of The Independence Of The External Auditor Essay Example

Why is it important for external auditors to be independent? Relate your answer to the primary role of external auditors. Give examples of specific ways the lack of auditor independence may impact adversely on an audit.

Introduction:

Generally Accepted Auditing Standards /GAAS (Business Accent, 2009) define Audit as;
“Auditing is a systematic process of objectively obtaining and evaluating evidence regarding assertions about economic actions and events to ascertain the degree of correspondence between those assertions and established criteria and communicating the results to interested users”.
Basically there are two types of auditing, external audit and internal audit. The focus of

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3 Pages

Auditors Article Review

Barry Minkow, founder of the ZZZZ Best carpet company perpetrated one of the most shocking frauds ever reported in the United States. More shocking, however, was the fact that a fraud of such magnitude happened under the watch of the Securities and Exchange Commission (SEK) as well as a well known accounting firm.
The fraud in question involved duping the public to invest in a company, ZZZZ best carpet company, in reliance on fraudulent financial statements. Minkow doctored the financial statements so that they could appear appealing thus enabling banks to extend credit facilities to him in pretext that

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White Collar Crime

1 Page