Audit Essays Samples That Help You Write Better, Faster & with Gusto

Hello everyone and a very warm welcome to all of you for being here and giving me an opportunity to make you familiar with some of the concepts regarding automation of audit documentation and processes using the computer technology.
I am discussing this topic because increased global competiveness and rapidly changing marketplaces have obliged every business to become efficient in every organizational process.
Of all the business operations and processes, the audit (whether internal or external) forms an integral part of financial success because it is the accurate and timely information which attracts investors and helps the business to Continue reading...

Introduction

Retinopathy is a frequent complication of diabetes mellitus especially when blood sugar is poorly controlled. The retina is the part of the eye that transforms light into signals transmitted to the brain through the optic nerve (NHS UK 2013). The brain interprets the electrical signals into images corresponding to what was seen. While sufficient blood supply is needed for the retina to function optimally, chronic hyperglycaemia causes ischemia and bleeding in the retinal microvasculature leading to the formation of new capillaries meant to sustain blood circulation in the retina (Vithian & Hurel 2010). However, the new capillaries are fragile and Continue reading...

Introduction

Diabetes mellitus is a serious metabolic disorder, with a complex of symptoms, such as hyperglycemia, as a result of dysfunction in producing of the insulin, its synthesis or secretion. (Stöppler, 2014). This disease may lead to serious complications. The major risk factors that raise the prevalence of diabetes are hypertension, obesity, pressed immune resistance to the infectious illnesses and even cancer. (Bilous, 2002.) Patients with diabetes are more probable to develop neuropathic vascular diseases (National Diabetes Education Program NDEP 2000). In 2010 there were 66,702 registered cases of diabetes in Oman (Oman Ministry of Health 2010) and Continue reading...

Diabetes Care and Management

Introduction
Diabetes is a chronic ailment caused by the diminished effectiveness or deficient production of the hormone insulin in the body. The characteristics of the disease include the presence of sugar glucose in blood at levels that are abnormally high. The disease reveals itself in complex symptoms such as hyperglycemia as a result of the pancreas not producing enough insulin or poor synthesis of 1secreted insulin in the body (Stoppler, 2014). This disease may lead to serious complications that include eye disease, nerve disease, kidney disease, dental problems, heart disease, and high blood pressure. The major risk factors that Continue reading...

Question 4.1

In general, audit and consultancy services market is characterized by existence of tight competition between major market players that offer similar services and whose professional fees do not vary drastically between the companies. Thus, I totally agree that to some extent market pressures may encourage unethical behavior.
Indeed, this is the case for audit and consulting firms that provide services and do not produce any goods. Thus, their clients have an opportunity to easily change a service provider if they are not satisfied with either quality of performed services or results (impact) of the performed services on their business. Continue reading...

Diabetes is recognized as a metabolic disorder that has the ability to cause high morbidity and mortality in the world. The World Health Organization (2006) noted that the prevalence of diabetes has been increasingly rapidly. This is especially in regard to type two diabetes, whose rates have increased in areas such as the Mediterranean region. The World Health Organization goes on to state that diabetes is the fourth most common death cause in this region. In Oman, diabetes ranks third when it comes to the causes of death. One of the assessments for diabetes is known as foot assessment ( Continue reading...

INTRODUCTION

Diabetes, a disease where the blood sugar level is supposed to increase above the normal range. The disease has become quite prevalent in the world today. Almost every third adult we meet is diabetic. Not just adults, nowadays diabetes has caught hold of the children too. It is a common finding to get a diabetic child almost in every school.
Nowadays even adolescents and young children are exhibiting the occurrence of the disease. More commonly, it is the obese children who run a high risk of the disease, children with a positive family history of diabetes are also at Continue reading...

Diabetes simply refers to a medical condition whereby glucose level in the human blood system gets too high due to the fact that the body is unable to use it properly and also because the pancreas that is responsible for producing insulin does not produce enough of it to assist the glucose the body to get into the body cells (Diabetes UK, 2010). A study performed by Shaw et al. (2009) across 91 nations and that was aimed at estimating the prevalence of the ailment for two specific time periods; 2010 and 2030 showed that 6.4% of the world’ Continue reading...

Assignment 1: Full Disclosure in Financial Reporting – Verizon Communications

Assignment 1: Full Disclosure in Financial Reporting – Verizon Communications

Section 1 - Disclosure Requirement on Accounting Policies

Policies and procedures used by any business entity in preparation of its financial statements are known as accounting policies. Such policies represent procedures, methods or even measurement systems employed in the presentation and design of information in financial statements . Disclosure requirement provide a proper and detail understanding about the financial information contained in the financial statements. Such type of disclosure provides an insight into the management style of reporting earnings, whether aggressive or conservative. This disclosure of accounting policies is also made to ensure that no misleading policy is used Continue reading...

A review of financial statements requires an auditor to perform analysis and inquiry procedures in addition to the basic financial analysis service provided by the auditor. An audit consists of review of financial statements of the company and providing and opinion on its accuracy and information. The similarity between the two is the review of financial statements with the intention to locate any misstatements in accounting. The differences between the two are vast. Audit is conducted through the generally accepted auditing standards and a review is conducted in accordance with the standards of accounting and review services. An audit Continue reading...

Accounting fraud entails financial misdeeds by executives that are trusted in either the government or corporations. In essence, these misdeeds involve complicated mechanisms of misdirecting or misusing an organization’s funds, understating expenses, overstating revenues, underreporting the liabilities existing and even overstating the price of the assets of an organization. Such accounting frauds are always geared towards personal interests of enriching oneself, and are always illegal and punishable by law. This paper analyzes the Enron scandal (2001) as an accounting fraud to explain the fundamental drivers of fraud.
Before it was declared bankrupt in the year 2001, Enron Corporation Continue reading...

Identify at least three key features of your selected company's (Common Wealth Bank) corporate governance framework and how it positions the firm to engage with stakeholders on local and international levels. In a global context, what ethical challenges can you see for this firm that may or may not be addressed with its current governance arrangements?

Introduction

Corporate governance is a system which includes rules, practices and processes by way of which an organization gets directed and controlled. It necessarily involves the balancing of interests of many individual stakeholders for an organization. This is including shareholders, management, customers, government, financiers, Continue reading...

SAS-109 Analysis

1). The external auditing professionals must understand to safeguard the controls so that dependability of the financial reporting can be increased. They should use the access controls. They should understand the procedures of obtaining the audit evidence regarding the implementation and design of the related control via the information system. Further, they should conduct the procedures of the risk assessment so that they become capable of understanding the internal control. The auditor must understand the collective impact on the control environment of the advantages and disadvantages in several elements of the control environment. The auditor must obtain the required Continue reading...

HP acquires Autonomy

Hewlett-Packard, an American computer maker, that bought Autonomy, an English software company in 2011, wrote off $8.8 billion of the acquisition value, possibly less than a year later the deal was closed between the two companies. The write off decision lead to war of words between the two groups with HP sacking autonomy founder chairman, Mike Lynch and also its own Chief Executive, Leo Apotheker, who was heading HP at the time of entering the deal. While HP claims that it was the accounting misrepresentation in Autonomy’s books that lead to write down of the acquisition value, Mike Continue reading...

Summary of Kudler’s Fine Foods Audit

Auditing is the idea of discovering the financial position of any company. It is a systematic approach of analyzing data, operations and performance of any company. Auditing identifies the areas that need improvements in the company. Audit has recognized some areas of Kudler’s fine foods to be improved and managed properly. The recommendations to the company’s top-level management include these elements to improve in order to make strategic decisions (Loughran, 2010).
Inventory check: Audit suggests that a physical check by supervisor or authorized person should be made on an inventory even if there is an automated system Continue reading...

Specific SOX regulations on whistleblowing

Whistleblowers employed in publicly traded companies are protected from discrimination. Section 806 of the Act outlines provisions that ensure such employees are protected. The section further provides that employees subjected to discrimination for whistleblowing can file a suit against the employer with the US Department of Labor. The OSHA investigates the complaints and if, the allegations are confirmed, the employee will be entitled to a full ‘make whole remedy.’ The remedy includes reinstatement, compensation for special damages, and refund of legal fees, among other benefits. The Act also prohibits retaliation against the employees who engage in whistleblowing. Section 301 Continue reading...

Ethics is one of the most critical pillars of any profession. A profession is defined as a body of qualified individuals with specialized knowledge on a field or area. This specialized knowledge is acquired through training and the person who acquires it is referred to as a professional. “Professionals including accountants have the ethical duty of ensuring that they have the requisite training before they provide any professional service” (Mohammed and Mark 164) They are further required to enhance their knowledge in the profession through continuous professional education. More importantly, professional should serve the public with utmost truthfulness, honesty Continue reading...

Introduction

Every corporate entity; public or private profit-oriented companies and joint ventures require a governing body and the corporate governance ensure the way law and power is governed over these entities. The main purpose of a governing body is to make sure the enterprise is run properly by the executive management. Corporate governance is considered crucial in case ownership is separated from management control.
Chaucer (c1343 -1400), the English writer, philosopher and courtier, used the word, governance but the phrase ‘corporate governance’ did not come into use until the 1980s.

According to Adam Smith:

"The directors of companies, being the managers of other people's Continue reading...

Compliance plan

The Medicare practices willingly set forth the compliance program to enable individuals and small physicians’ practices in giving quality health care to the patients. The aim of the compliance plan is to reduce fraud, prevent abuses, and minimize wastages. The primary aim of the compliance plan for the individual and small physician practice is to detect, prevent, and find resolutions of the variances. Hence, the compliance plan of the individual will contain the eight elements that are in the compliance program of the medical practice.

Elements of the compliance plan

1. Commitment to compliance

A. Standard of conduct

B. Medical necessity
C. Billing
D. Reliance on standing orders

E. Compliance with applicable HHS Fraud Alerts

Continue reading...

Abstract

Investors prefer to derive quick profits for their investments. And, to managers, meeting such expectation requires close monitoring the indicators of profitability, such return of investment (ROI) and costs, whether hard or soft. The ROI may be analyzed in various manners, including such tools as net present value (NPV), payback period (PP), and profitability index (PI). Oftentimes a Post Implementation Audit (PIA) should be conducted, including the monitoring of deliverables and internal performance targets. These are crucial activities that any management worthy of their investors’ trust should ensure of implementing.
In any business undertaking, the investor wants to ensure Continue reading...