Tài liệu Khối Ngành Kinh Tế

Audit teams evaluate controls by “observing” processing of actual transactions through computerized system in a typical processing run Program-embedded techniques Special modules coded into computer programs Examples include tagging, embedded audit modules, snapshot, monitoring systems activity, extended records, and program analysis techniques ...

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Precision = N X R(IA) X (SD ÷ √n ) Project sample average to population estimate Add/subtract precision to get precision interval Determine difference between account balance and furthest bound of precision interval If greater than tolerable misstatement—reject balance Determine cause of all misstatements

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Calculate Sample rate of deviation Estimate an Allowance for Sampling Error Can use tables for guidelines Remember, it’s auditor judgment!

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Used to estimate the extent to which a characteristic exists within a population Used in the auditor’s study of internal control Goal: Estimate the rate at which the client’s internal control is failing to function effectively and compare to an allowable level (tolerable rate of deviation)

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Extends statute of limitations for brining suit under the Securities Exchange Act Increased penalties for mail fraud and wire fraud Increased penalties for destruction, alteration, and falsification of records Increased records retention requirements Higher potential liability in civil cases

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SEC rules require that companies (not auditors) disclose the following in proxy statements delivered to their shareholders : Total audit fees to the public accounting firm for the annual audit and the reviews of quarterly financial information; Total fees to the public accounting firm for tax and other advisory work; Whether the audit committee ...

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Under the direct method, service department costs are only allocated to production departments. Under the step method, service department costs are sequentially allocated to other service departments pro rata and finally to production departments. The reciprocal method employs matrix algebra to simultaneously allocate all department costs to eac...

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Should rewards be based on accounting results or stock performance? Tying managers’ compensation to stock performance loads uncontrollable risk on them. Using EVA both focuses managers on creating value for shareholders and relies on nonstock performance measures.

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Managers should be held responsible for direct costs (any cost necessary to operate). They are always deducted for performance evaluation of a division whereas manager evaluation should only include direct costs that are controllable. Similarly, divisions can partially control indirect controllable costs.

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Most organizations use multiple inputs to produce their output. For example, Massachusetts General Hospital uses a combination of registered nurses, licensed practical nurses, and nurse’s aides to provide nursing care to patients. Bethlehem Steel Company uses a combination of iron ore and other raw materials to make its product. A mix variance ...

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