Audit Essays

9 essay samples found

Issues of New Management and Ownership

After the company merged with Mittal steel it is renamed as ‘ArcelorMittal’. Lakshmi Mittal the owner of Mittal steel became the Chairman of ArcelorMittal. The merger of Arcelor with Mittal steel made ArcelorMittal the worldwide leader in steel industry by increasing its bargaining power by the consumers and suppliers. The new management and board had […]

Pages: 6 Words: 1697 Topics: Audit, Economy, Employment, Evaluation, Leadership, Risk

Examining Corporate Governance Initiatives in Malaysia

In an effort to restore public confidence of the Malaysian capital markets, following the East Asian financial crisis in the late 1990s, the Malaysian government intensified several initiatives to promote awareness, advocacy and actions (S. Susela Devi, 2003) to enhance corporate governance in Malaysia, with prioritized focus on the capital market. Table 1.1 in Appendix […]

Pages: 6 Words: 1865 Topics: Audit, Bank, Economy, Malaysia, Research
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Financial Audits as a Fraud Prevention Mechanism in International Enterprises

In the last decade, international financial system has been hit several times by many different gigantic occurrences. The soonest was the subprime mortgage crisis, but the situation this dissertation will be concentrating is the failure of Enron. Mainly because the aim of this paper is to present financial audit as a fraud prevention mechanism, not […]

Pages: 10 Words: 2992 Topics: Audit, Financial Statement, Fraud, Research

Financial Management Statement

Question: SAS No. 31, Evidential matter, identifies five management assertions that underlie a set of financial statements. Which of these assertions should have been of most concern to Price Waterhouse regarding the large period-ending adjustments AMRE recorded during the fourth quarter of fiscal 1989? AMRE’s fourth-quarter write-offs were large adjustments accepted by Price Waterhouse before […]

Pages: 4 Words: 1054 Topics: Accounting, Audit, Economy, Financial Accounting, Financial Statement

A Mechanism to Check Corporate Frauds

FORENSIC AUDIT: A MECHANISM TO CHECK CORPORATE FRAUDS ABSTRACT Satyam, Enron, Worldcom, Tyco are few of the big brands which were charged with financial frauds. Corporate are separate legal entities wherein directors and managers are supposed to act for the welfare of shareholders. Various regulators, rating agencies, auditors are part of external check system. However […]

Pages: 7 Words: 2107 Topics: Audit, Economy

Gas Market Reformation

ENERGY LAW-GAS MARKET REFORMATION Distribution Grid of Natural Gas It is the grid which is developed or is going to be developed in accordance with approved program of development Natural Gas Distribution Companies The companies which occupy with issues of natural gas distribution grid. Regulatory Authority of Energy (RAE) The Regulatory Authority for Energy (RAE) […]

Pages: 9 Words: 2747 Topics: Audit, Energy, Government, Justice, Social Institutions, Virtue

Financial Scandals: the Implementation of the UK Corporate Governance Code

Introduction Financial scandals of a business would happen through complex methods of misusing funds or giving incorrect information to mislead public and many others way. The occurrence of financial scandal had brought huge impact to the economy, the revenue of the economy was reduced drastically, escalating unemployment rates and local governments suffer huge losses prior […]

Pages: 11 Words: 3158 Topics: Audit, Enron

American Fuel & Supply Company

American Fuel & Supply Company Inc. 1. A major focus of the lawsuit Chevron Chemical filed against Touche Ross was the auditing profession’s rules regarding the “subsequent discovery of facts existing at the date of the auditor’s report”. Those rules distinguish between situations in which a client cooperates with the auditor in making all necessary […]

Pages: 7 Words: 2225 Topics: Audit, Confidentiality, Financial Statement, Government, Justice, Social Institutions

Buds Big Blue Manufacturing Case

1. ) After performing any alternative procedures, the auditor should evaluate the combined evidence provided by the confirmations and the alternative procedures to determine whether sufficient evidence has been obtained about all the applicable financial statement assertions. In performing that evaluation, the auditor should consider (a) the reliability of the confirmations and alternative procedures; (b) […]

Pages: 4 Words: 1208 Topics: Audit, Evidence, Financial Statement, Manufacturing, Risk
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