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For each control selected for testing, the internal auditor requires the same quality and quantity of audit evidence.
Evidence obtained directly by internal auditing is generally considered to be more reliable than evidence obtained indirectly.
In preparation for the meeting with the potential client's CFO, you plan to identify several high-risk audit areas in the company's financial statements.
How have control systems been changed by Sarbanes-Oxley requirements in a hospital organization.
Question: Please include a detailed explaination of how the Sarbanes-Oxley Act impacts the internal controls of an organization.
What was the Enron Scandal about? Discuss specific accounting issues related to the scandal.
What are the embedded issues within the case? State the highest level of deficiency that you believe these circumstances represent control deficiency.
How has the Sarbanes-Oxley Act impacted the professional and ethical standards of accountants? Explain.
What are COSO and COBIT? What role did COSO and COBIT play in the internal control area?
What is the Sarbanes-Oxley Act of 2002? How did it affect the reporting requirements for U.S. companies?
You decide to develop a presentation for your international accounting firm's new hires explaining the basics of the FDIC and the PCAOB.
Identify how the Sarbanes-Oxley Act of 2002 changed the audit environment for auditors.
Identify and describe one of the inherent limitations of internal control.
What four pieces of legislation passed in the U.S. in the last 100 years, in your opinion, have had the greatest impact on the U.S. banking/financial sector?
Read Case: Vioxx, Dodgeball: Did Merck Try to Avoid the Truth? After you read the case, address the following: Offer an opinion on the outcome.
Question: What can companies do to stop White Collar crime? Or is that even possible?
Which of the two models is better for predicting the number of victories?
As auditors, how can we maintain a positive environment yet ensure employees adhere to company standards?
Describe your assessment of the responsibilities established for accounting personnel: including protection for whistle-blowers and for the public accounting
What impact will increasing the percentage of completion have on Terra Firma's financial statements? Use numbers to back up your answer.
Determine both the relationship of risks in the planning of the audit and factors that influence those risks.
Based on the fraudulent activity that occurred, recommend two (2) improvements to the internal control environment to reduce those occurrences.
Describes the main aspects of the regulatory environment which will protect the public from fraud within corporations.
Formulate a strategy to improve the opportunities for Durango to reach its revenue goals (i.e., increase revenue by 10% within five [5] years).
Discuss the financial impact of SOX and consider its effect on economic growth and enterprise.