Why do we need internal, external and government auditor in a company?
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Why do we need internal, external and government auditor in a company?
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- CPAs may audit around or through computers in the audit of the financial statements of clients who use IT to process accounting data. c. In auditing through the computer, CPAs may use test data. (1) What are test data? (2) Why do CPAs use test data?CPAs may audit around or through computers in the audit of the financial statements of clients who use IT to process accounting data. b. Under what conditions do CPAs decide to audit through the computer instead of around the computer?Which of the following is not the function of audit committee? a)To make recommendations about auditor's fee b)To advice the removal of the external auditors c)To look after the internal control in company d)All of above Please answer quickly don't add an explanation just write correct option fast!
- Internet Exercise: Reporting on Service Organization Controls. Search for a service organization auditor’s report on internal controls on the web. (Hint: You may have to look under the old name “SAS 70 reports.”) If you cannot find an auditor’s report, find a company’s news release describing its auditor’s service organization report. Required:a. Why do you think it is so difficult to find an actual report?b. If you found an auditor’s report, were any deficiencies noted? If so, what were they?c. Why would a service organization publicize the results of its auditor’s report?(This subject is about Accounting Information System.) 1. Because all fraud involves some form of financial misstatement, how is fraudulent statement fraud different? 2. Explain the problems associated with lack of auditor independence. 3. Why is an independent audit committee important to a company? 4. In this age of high technology and computer-based information systems, why are accountants concerned about physical (human) controls? Please provide me a correct answer and PLEASE NO PLAGIARISM. Thank you!!CPAs may audit around or through computers in the audit of the financial statements of clients who use IT to process accounting data. d. How can the CPAs be satisfied that the computer programs presented to them for testing are actually those used by the client for processing accounting data?
- KPMG is the auditor of an SEC registrant and cannot perform a management function. Which of the following is NOT likely to be considered as a management function? 1.Creating a strategic plan to overhaul their supply chain. 2.Providing a detailed implementation plan for deploying technology resources in a new way. 3.Designing internal controls for financial systems. 4.Providing generic training to staff on a new accounting standard.1. CPAs may audit around or through computers in the examination of financial statements of client who utilize computer to process accounting data. Required: a. Describe the auditing approach referred to as auditing around the computer. b. Under what condition does the CPA decide to audit through the computer instead of around the computer?CPAs may audit around or through computers in the examination of financial statements of clients who utilize computer to process accounting data. Required: Under what condition does the CPA decide to audit through the computer instead of around the computer?
- Explain the role and responsibilities of the audit committee of Pastells with regard to: (i) the external audit of the company's financial statements.(ii) the internal control system and internal audit function. Should not be copied on googleWho is the professional bodies that responsible in fraud audit? Birefly explain.Which of the following statements is most accurate? a. ERP systems are commercial software packages that are sometimes called turnkey systems because they can be implemented by the user with little or no modification. b. Substantive tests provide evidence focused on the system controls. c. Public accounting firms that provide attest services are not allowed under SOX to offer IT advisory services. d. Both small and large firms that have standardized information needs are potential customers for commercial software. e. External auditors may rely on the work of internal auditors only if they report to the controller or the CEO of the client company.
