Has any evidence been found for errors or fraud


Assignment:

1. Prepare a 10 - 15 minute business presentation using Powerpoint effectively as a Visual Aid.

2. First determine a business situation where you are required to present on a scenario to a small group of colleagues/managers from your business. You should imagine yourself as a subject matter expert in the role you determine.

Suggested Accounting scenarios:

1. Company results - Present the annual accounts for your chosen company (you can even use the financial reports downloaded for a public company). Interpret the results using comparisons with the prior year accounting period e.g. why are sales up/down, what has happened re cash flow, is companies balance sheet healthy etc etc

2. Department Expense report - present the reports for a particular department e.g. marketing. Explain costs versus budget and/or costs versus the last forecast. What preventative or corrective actions do you recommend?

3. You are management accountant for a newspaper. Your company wishes to launch a new daily newspaper. Make a presentation showing why this is a good or bad idea. What will production costs be based on a 48 daily tabloid. What will the ratio of news to advertising be? How much will the news content cost? How much advertising revenue will be raised for classified and display adverts? Is it profitable? What are the risks?

4. You are employed as an internal auditor. You have just audited the procedures and the expenditure for re-imbursement of field sales staff expenses. Present your findings. What are the key controls and are they effective? Has any evidence been found for errors or fraud? Are staff compliant with expenditure policies? Are authoriser accurately approving or rejecting claims? Could the process be improved or automated? etc

5 You are a tax accountant for mid- sized accounting firm. You are aware of some (fictional) changes to the tax law that will affect many of your clients these being:

· Abolition of negative gearing

· Restrict superannuation contributions to a maximum lifetime total of $500K

· Introduce capital gains tax on the family home

· Increase GST from 10% to 20 %

· Abolish state land tax and stamp duty

· Income tax tax oiffset of 50% for interest received up to $100K per year.

Write a presentation explaining the impact of these changes on your clients. What is the upside? What is the downside/What changes ot strategy do you recommend.

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Auditing: Has any evidence been found for errors or fraud
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