Armstrong Accountancy Essay

Armstrong Accountancy Essay
Armstrong accountancy is United Kingdom based accountancy firm having a diverse and large
client base. The Armstrong Accountancy firm has diverse and large client base of SMEs, sole
traders, partnerships and charity accounts. The company deals in the auditing of group accounts and
advice the individuals having high net worth with the planning and tax strategy. The accountancy
firm is registered by the Institute of Chartered Accountants for England and Wales to conduct audit
(Armstrongs Chartered Accountants , 2016)
2.0 Leadership Skills for Sales Managers and Directors
2.1 Leadership skills
The managers of the sales department oversee all the crucial activities of the organisations. Sales
managers and directors are responsible to manage the work force that is facilitating transactions on
the front line with the customers. Therefore, a leadership skill in the sales managers and directors is
a crucial aspect and helps the sales managers in motivating the team to with the ability enhances the
skills of the teams and to inspire high performance and commitment from ... Show more content on
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Execution criticism ought to distinguish aptitude holes, leading to training and future change.
Being the sales director and manager, where the sales managers and directors turn out to be more
expelled from the everyday feel of the association, the sales managers and directors should set up
great frameworks to have the capacity to screen execution. A suitable parity must be accomplished.
Being eth leaders they are require adequate criticism from supervisors to value the general position
of the business, yet it is additionally needed to permit the team the flexibility to have the capacity to
deal with their assigned regions (Noonan, 2010).
Sales managers and sales directors can divide teams into two parts for motivating the team members
i.e. evaluation and
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The Role And Role Of The Public Sector In The UK
The public sector is owned and operated by the Government, and exists to provide non–profit
services for its citizens (privacysense). The main aim of the public sector is to provide value for
money for taxpayers and other stakeholders defined as "the most advantageous combination of cost,
quality and sustainability to meet customer requirements" (finance–ni.gov.uk). It is essential that
management of public sector organisations realise the importance of providing good quality
information, in order to facilitate effective decision making, efficient performance measurement and
provide assurances as to good value for the taxpayer (nao.org.uk). The public sector in the UK is a
significant portion of the overall economy and includes the delivery of essential services including:
National Health Service, Education, Police, and Military.
1a GOVERNMENT DEPARTMENTS DONE (240) TAKE OUT BRACKETS/CHECK NUMBERS
FROM GOV WEBSITE/ WHAT FISCAL YEAR/
Public sector organisations exist at different levels: central government and local government.
(gov.uk) In relation to central government, there are 25 Government Ministerial Departments (see
Appendix A) with the major spend departments being: Department of Work and Pensions,
Department of Health and Department of Education.
The Department for Work and Pensions Secretary of State is David Gauke MP. This department
budget expenditure was £240 billion (gov.uk) during year 2016/2017 which equates to 31% of
proposed total government spending for

Mandatory Rotation of Auditors
Abstract
In light of a number of high–profile corporate failures during the first half of 2001, a number of
studies have been performed to address the impact of mandatory rotation of audit firms to ensure the
appropriate level of ‘independence ' of auditors. Majority of studies conclude that the detrimental
effects of firm rotation on the quality of the audit work by far outweigh its positive effects as a
safeguard against various independence and quality threats.
Frequent changes of audit firms, whether resulting from mandatory rotation or otherwise, introduce
threats to independence and operational difficulties that make audit failure more likely. Many
studies have involved practitioners ' opinions on this issue, which have been ... Show more content
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Arguments ‘For ' & ‘Against ' Mandatory rotation of Audit firms
The arguments for and against mandatory rotation of audit firms fundamentally revolves around the
issues of auditor independence, audit quality and increased audit costs. Compromising either auditor
independence or audit quality will adversely effect the accuracy of audits performed and hence
effect the shareholders ' future.
The significance of mandatory rotation of audit firms on an auditor 's independence and quality of
audit can be evaluated on a large number of factors, such as length of time an individual has served,
the role of the individual, the size and structure of the firm, the nature of the engagement and
whether the client is a public interest entity or not.
There are numerous threats to the independence of auditors which have been identified in the
multiple studies and discussions both in Australia (such as the Ramsay report, CLERP 9 Paper) and
internationally by IFAC, the European Commission

Whistle-blowing in Auditing
Question 1
Introduction
At the start of this century, unprecedented collapses of Enron and WorldCom have sparked heated
world discussions over corporate whistle–blowing. In light of this, legislations and professional
codes of conduct are implemented to provide framework on ethical and financial decision–making
particularly for auditors. This essay covers prerequisites for an effective corporate whistle–blower
hotline, measures to avoid potential pitfalls, as well as analysis on benefits and drawbacks of having
a whistle–blower hotline.
Whistle–blower Hotline
What is it?
By incorporating the concepts of whistle–blower of Alford (2001, p.17) and Bok (1980, p.277) into
auditing, whistle–blower hotline is a communication system which ... Show more content on
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(Mintz and Morris 2008, p.202) Registered chartered accountants should be reminded of bearing
legal responsibility to voluntarily report suspicious misbehaviours.
Prerequisites for Procedures of
Handling Claims for Effective Hotline
In Combined Code on Corporate Governance – July 2003 (The Combined Code) issued by Institute
of Chartered Accountants in England & Wales (ICAEW), whistle–blowing procedures are formal
steps taken by the Audit Commission when concerns regarding malpractice in the corporation are
raised. Audit Commission should review corporate arrangements and carry out investigations, and
make recommendations to Board of Directors. Audit Commission should follow chronologically the
five steps in handling claims stated below.
I. Submission
Introduce Multiple Easily–accessed Channels of Communication
Corporations usually establish both internally and externally a confidential toll–free telephone
hotline, email address and message boxes on official website which allow whistle–blowers staying
nameless. (Devine and Maassarani 2011, p.271) The hotline should be easily accessible as
stakeholders range from employees, clients, suppliers to members of the public. It should be
operated at all times so that whistle–blowers do not face time restriction in reporting suspected
wrongdoings. Hence, multiple channels allow whistle–blowers to choose the most

Role of Internal Auditor
Internal audit's role in modern corporate governance
Thought leadership series
Risk and Advisory Services
Recent events have highlighted the critical role of boards of directors in promoting good corporate
governance. In particular, boards are being charged with ultimate responsibility for the effectiveness
of their organisations' internal control systems. An effective internal audit function plays a key role
in assisting the board to discharge its governance responsibilities. Yet how does the board – and its
audit committee – satisfy itself that internal audit is functioning effectively and efficiently?
The board's responsibility for internal controls
Through working ... Show more content on Helpwriting.net ...
page 2
I n t e r n a l a u d i t 's r o l e i n m o d e r n c o r p o r a t e g ove r n a n c e
Governing internal audit
Amidst all the debate over corporate governance and the board's supervision of internal control
mechanisms, surprisingly little attention has been given to the role of internal audit, and particularly
to whom it is ultimately responsible. While several high level reviews by regulators and others have
acknowledged that the internal audit function and the oversight of internal controls has become an
important responsibility of boards, the implications of this for internal audit have not always been
followed through. Thus in the US, the Sarbanes–Oxley Act of 2002 makes no mention of internal
audit, or of any equivalent role other than the board's role generally in the preparation of the
accounts and the setting of accounting standards.
Critical success factors for an internal audit function
Is internal audit strategically positioned to contribute to business performance? – The mission and
role of internal audit are defined within a wider governance framework and are effectively
communicated. – The structure of internal audit promotes objectivity, consistency and business
understanding. – Internal audit is funded in a way that promotes objectivity and consistency in the
quality of services it

Ethics And Ethical Standards For Accounting Professionals
When in Rome, do what the Romans do, should that be our thinking when it comes to making
ethical decisions. Can ethics be flexible where business leaders and organizations operates with one
set of standards in their homeland and another overseas (George, 2008)? Now, that our world has
gone global, it is imperative that we maintain a common set of ethical standards of making decisions
and running businesses across the globe. Ethics, derived from the Greek word "ethos" means custom
or usage, it includes the ideas of character and of disposition. Ethical standards are based on the
principles of trust, integrity, fairness, equality, and accountability among others. Today, there's a
growing need for the ethical mandate of professional ... Show more content on Helpwriting.net ...
Different companies set the ethical standards that are meaningful to their organization. Ethical
standards help employees in making right decisions that are beneficial to the organization
(Ebimobewei, 2012). Employees become open when they see a wrong and unethical act to the
company. Ethical standards provide guidance on what to do when ethical dilemmas arise.
Professional, ethical codes and standards expect members of all professions regardless of job title,
cultural differences or local laws to act with integrity and place the interest of customers above own
interests. It expects professionals to be competent and respectful. Professional codes and standards
require members of a profession to maintain and develop professional competence (Sadowski &
Thomas, 2012). It covers duties of employees to employers and customers, analysis of investment,
responsibilities and conflict of interest, professionalism and integrity of capital markets.
Professionals who behave ethically act with integrity, show respect to everyone they interact with,
provide a high quality of services, work to enhance trust and loyalty to customers and are
responsible. For over a decade, the global community has claimed a set of universal accounting
standards. These standards are expected

Harmonization of Accounting Standards Through...
Vol. 2, No. 2 International Business Research Harmonization of Accounting Standards through
Internationalization Nikhil Chandra Shil, ACMA (Corresponding Author) Department of Business
Administration East West University 43, Mohakhali C/A, Dhaka – 1212, Bangladesh Tel:
9887989(Off.) ext 253, 01819289589 (M) Dr. Bhagaban Das P.G. Department of Business
Management, Fakir Mohan University P. O.: Balasore, Pin.: 756019, Orissa, India E–mail:
bhagaban_fm@yahoo.com Alok Kumar Pramanik Department of Commerce, Bhatter College P. O.:
Dantan, Pin. : 721426, Paschim Medinipur, West Bengal, India E–mail: alokdantan@sify.com
Abstract The journey to have a common set of accounting standards started long before to give it a
professional shape and ... Show more content on Helpwriting.net ...
At the World Bank Conference held in 1999, Jules W. Muis aptly states "....power to control the
language of business is important. Standard setters will come ahead as the world grows smaller, and
economic independence is no longer an option but a reality. So it happens that today a good observer
can see the preparations of battle for the control of the international language of business slowly
unfolds..." In this context, the statement of Harvey Pitt, US SEC Chairman at SEC Conference,
(2002) is worth mentioning, "High quality global accounting standards are needed to improve the
ability of investors to make informed financial decisions. Companies must keep pace with this
progress in order to promote and protect their business credibility in the international market place."
It is for this reason that the convergence of accounting standards is so important. The process of
convergence is accepted as the key factor to implement a single set of accounting standards across
the globe. The paper follows a scholarly search approach to discuss the recent status of
harmonization in accounting practices. 2. Objectives The objectives of current study are very
straight forward. The very basic issue is to explain the need of harmonization in practices. Later on,
it focuses on the regulatory authorities who are working actively to bring the convergence into
practice. The paper also presents

The Terms Of Return On Investment Essay
Current Situation Overall in terms of return on investment (R.O.I.), market share, and profitability,
Pfizer performed well in 2014. Pfizer generated a 7.01% R.O.I., a 28.3 % return on equity (R.O.E.),
and a 12.78% return on assets (R.O.A.). In the last four years shareholders have witnessed their
shares more than double totaling: 23, 858, 089 shares. And as a matter of fact, in terms of
profitability, Pfizer has generated more revenue than any other pharmaceutical company in the
world. Pfizer has a gross profit margin of 81.42%, an operating profit margin of 29.44%, and a net
profit margin of 42.65% (CSI Market, 2014).
Strategic Posture
Strategic posture is an approach company leaders take in applying a business's strengths to the
current and long–term needs of the marketplace. Formulating a strategic posture is part of the
broader strategic planning process, when managers collaborate to develop the vision, goals and
strategies for a business in the foreseeable future. By recognizing the nature of a strategic posture,
one can lead their company more effectively (Kokemuller, n.d.).
Pfizer's mission is to, "be the premier innovative biopharmaceutical company." Some of the
objectives Pfizer aims to accomplish include: developing new therapies for inflammation and
immunology, cardiovascular and metabolic diseases, neuroscience and pain treatments. The
corporations' current strategy is dependent upon: innovation, value maximization, social respect, and
cultural ownership.

Gaap Essay
The country selected for this study is the United Kingdom (UK). UK Generally Accepted
Accounting Practice (GAAP) has been in place for a long period of time and was harmonized in
2005 so as to comply with the international accounting standards. The UK embraced the principles
of the International Financial Reporting Standards (IFRS) in 2005 after the European Union (EU)
mandated that all members that were publicly listed companies be subject to reporting under the
International Accounting Standards (IAS). This was to help facilitate that those listed companies
could easily be compared to onr other on their performance and transparency was improved since
they were now subject to the same principles of reporting. Companies in the United ... Show more
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Chartered accountants are therefore expected to display professionalism in their work so that they
are able to maintain public confidence in the companies. This is a result of the accountants reporting
the true performance of the companies they represent (Radebaugh & et al, 2012).
The conduct of chartered accountants in the UK is governed by the Code of Ethics. The latest
revision of these ethics took place January 1, 2011. The fundamental rules that govern the work of
these accountants are as follows and similar to those in the US:
Integrity – Accountants should always ensure that they are honest and straightforward in their
activities with every instance that they have clients. They should always maintain the lines of duty
and maintain business relationships during all official duties (Nobes, 2015).
Confidentiality – This calls upon any professional accountant to ensure that they do not disclose the
accounting information of one company to any unauthorized parties. Such information should only
be disclosed if the professional or legal right is granted by the relevant authority. Information
obtained from a company should therefore not be used for any personal benefit by a professional
accountant (Nobes, 2015).
Professional behavior – This indicates that professional accountants comply with the stated UK laws
and regulations that govern the

Integrity, Confidentiality and Professional Behavior of...
Integrity According to The Institute of Internal Auditors (IIA), "The integrity of internal auditors
established trust and thus provides the basis for reliance on their judgement". IIA further added that
to be integrity, internal auditors: * Shall perform their work with honestly, diligence, and
responsibility. * Shall observe the law and make disclosures expected by the law and the profession.
* Shall not knowingly be a party to any illegal activity, or engage in acts that are discreditable to the
profession * Shall respect and contribute to the legitimate and ethical objectives of the organization.
According to the 2009 Global Integrity Survey conducted by Compliance Week and Integrity
Interactive, polled more than ... Show more content on Helpwriting.net ...
Another issue is on whether or not internal auditors should whistleblow when they discover
organizational wrongdoings. Internal auditors always face situations that involve conflict of interest
while executing their dual–role duties (Armold & Ponemon, 1991; E.Z. Taylor & Curtis,
2010). The dual–role duties mentioned here are the role of internal auditors as employed by the
organization, which subject to the needs and requirements of their employment, and the role as
members of a professional body, they are required to adhere to the profession's ethical requirements.
Ahmad and Taylor support the view and assert that the role of internal auditors in providing auditing
tasks for their organizational may cause ongoing conflicts. Zhang, Chiu and Wei (2009) argue that
the "disclosing insider information to outsider's breaches obligation to the organization, violates the
written or unspoken contract, and elicits damaging publicity". However, ethically, internal
whistleblowing, as opposed to external whistleblowing, is preferred. This is due to severe damage
caused by external whistleblowing as compared to internal whistleblowing (Park &
Blenkinsopp, 2009). In order to avoid the severe damages caused by whistleblowing, Vinten (1996)
has suggested that an organization may minimize

Cheetah Annual Report
CHEETAH HOLDINGS BERHAD (430404–H) CHEETAH HOLDINGS BERHAD (430404–H)
CHEETAH HOLDINGS BERHAD (430404–H) Lot 1846, Jalan KPB 6, Kawasan Perindustrian Kg.
Bahru Balakong, 43300 Seri Kembangan, Selangor Darul Ehsan, Malaysia Tel: +603 8947 3888
Fax: +603 8961 6218 annual report 2011 www.cheetah.com.my annual report 2011 an n u al repo r t
2011 Our Vision fulﬁlling your lifestyle needs Building brands and value through Quality, Design
& Innovation Contents Corporate Information 02 Corporate Structure 04 Directors' Profile 05 5
Years Financial Highlights 08 Chairman's Statement 09 Statement on Corporate Governance 11
Other Information 16 Statement on ... Show more content on Helpwriting.net ...
In view of his extensive experience in the apparel designing, he has gathered a deep understanding
of the fashion trend that has resulted in the creation of designs that appeals to and is accepted by the
various target market. Under his guidance, the Group has managed to consistently produce new
designs to remain competitive over the years. Mr Chia was appointed to the Board on 29 August
2004. Prior to his appointment as an Executive Director of CCM on 28 September 1989, he was
entrusted with the task of managing the retail operations of Cheetah Sports Centre and was
subsequently promoted to head the Accounting and Administration Department of Success Sports
Company in 1989. With his in–depth understanding of retailing, he has successfully implemented
the EDP system for CCM's operations. He oversees the financial and budgetary control, planning
and development, implementation of marketing strategy and overall corporate functions of the
Group. He has no personal interest in any business arrangement involving the Company except by
virtue of his directorship and shareholding in Chia Yoon Yuen Holdings Sdn Bhd ("CYY"), a
substantial shareholder of the Company. He has had no convictions for any offences, other than
traffic offences (if any), within the past 10 years. He has

Accounting Information System 5
American Journal of Scientific Research ISSN 1450–223X Issue 4 (2009), pp36–44 © EuroJournals
Publishing, Inc. 2009 http://www.eurojournals.com/ajsr.htm
Accounting Information Systems (AIS) and Knowledge Management: A Case Study
Zulkarnain Muhamad Sori Department of Accounting and Finance, Faculty of Economics and
Management Universiti Putra Malaysia Abstract This study seeks to examine the use of Accounting
Information Systems (AIS) by ZBMS Sdn. Bhd., and it's contribution to the knowledge management
and strategic role of the organisation. ZBMS is a company that registered in Kuala Lumpur and
operate in construction industry. The company used automated AIS known as 'Contract Plus –
Financial & Project Accounting' package commercially ... Show more content on Helpwriting.net ...
Drucker believed that knowledge is always embodied in a person, taught and learned by a person,
used or misused by a person. As the world moving into knowledge era, this paper will examine how
ZBMS Sdn. Bhd. manages its knowledge in order to remain competitive amongst the construction
industry. Probst, Raub & Romhardt (1999, p.1) stressed that companies must learn to manage their
intellectual assets (i.e. knowledge) in order to survive and compete in the 'knowledge society'.
Indeed, knowledge management is concerned with the exploitation and development of the
knowledge assets (Davenport et al., 1998). This paper seeks to examine the Accounting Information
Systems (AIS) used by a Malaysian company named ZBMS Sdn. Bhd. The paper will highlight the
users of the system and the way information adds value to the organisation. Also, the paper will
investigate the way knowledge is managed through the process of creating, storing, disseminating
and applying and how information system plays an important role throughout the process and the
AIS contribution in the organisation's strategic role. The remainder of the paper is organised as
follows. The following section describes the background of ZBMS and the use of accounting
information systems. The third section provides research findings on accounting information
systems employed by ZBMS. The fourth section offer suggestions for

What Is Data Analytics The Future Of Audit Engagements
Data Analytics the future of Audit Engagements
Data analytics, according to the International Auditing and Assurance Standards Board (IAASB), is
defined as "the science and art of discovering and analyzing patterns, deviations and inconsistencies,
and extracting other useful information in the data underlying or related to the subject matter of an
audit through analysis, modelling and visualization for the purpose of planning and performing the
audit" (Alawadhi et al., 2015). Under this definition, the overall goal of data analytics is to provide
structure and organization to data to enable effective and efficient decision–making. Auditor data
analytics is about enhancing audit quality. A high–quality, focused and effective audit is ... Show
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The objective of any audit is to acquire sufficient and appropriate audit evidence to support an
opinion. Sufficient evidence refers to the quantity of evidence, while appropriate evidence refers to
the quality of the evidence. In developing an audit opinion an auditor must accumulate both
sufficient and appropriate evidence, however, the evolution of the risk–based audit approach has
created obstacles in acquiring sufficient and appropriate audit evidence. Therefore, the audit process
must adapt to these technological changes, in order for the profession to maintain its credibility as
gate–keepers. Data analytics is a technological tool that can assist auditor's in combating the
limitations mentioned–above. One important advantage is the ability of data analytics to provide
more persuasive audit evidence to enhance audit quality. Data analytics can be applied at different
stages of an audit, beginning with risk assessment procedures, test of controls, journal entry testing,
and even substantive testing. Employing data analytic techniques allows audit teams to perform
analyses on an entire population of transactions, rather than physically vouching a limited number of
samples, which minimizes sampling risk in an audit engagement. Additionally, data analytics can
help

In The United Kingdom (Uk), The Professional Conduct In
In the United Kingdom (UK), the Professional Conduct in Relation to Tax (PCRT) is adopted to
govern the conduct of tax professionals. The PCRT is a guide jointly produced by seven–leading tax
and accountancy bodies which sets out the fundamental principles and standards of behaviour that
tax consultants are expected to follow.
These regulations include: i)fundamental principles, ii)expected standards and iii)general and
specific guidance. The fundamental principles form the foundation of PCRT's standards and
guidance. It governs the ethicality of tax professionals and encompasses Integrity, Objectivity,
Professional Competence & Due Care, Confidentiality and Professional Behaviour. The PCRT also
acts as a guidance for tax consultants in ... Show more content on Helpwriting.net ...
In this context, consultants are to inform their client if the tax law is materially uncertain and give
appropriate advice in relation to the risks and circumstances of each case. They are also encouraged
to seek professional help whenever uncertain. This hence deters tax consultants and clients alike
from exploiting loopholes in tax laws given a better understanding of the potential risks associated.
Thirdly, disclosure and transparency requires disclosure to be made as required by law, and tax
consultants must recommend clients for full and transparent disclosure whenever possible. This
encourages taxpayers to be compliant through enhanced transparency for both the tax payer and the
government.
In addition, tax planning arrangement states that tax consultants must never create, encourage or
promote any form of tax planning arrangements that either; i)have the intention to achieve results
which conflicts with that of the Parliament and/ or ii)are highly artificial or unrealistic and seek to
exploit loopholes in the legislation1. This principle discourages the creation and usage of aggressive
tax planning techniques by laying out the government's views and expectations on appropriate tax
planning schemes. Lastly, professional judgement and appropriate documentation requires tax
consultants to justify their professional judgements by supporting it with convincing paperwork. Tax
consultants are also expected to

The Ethical Code Of Ethics
INTRODUCTION
This essay will discuss the ethical code that has major influence on audit failure and what scholars
are saying towards auditor's credibility and auditor's code of ethics because when a company goes
bankrupt the auditor's independence is questioned and shaken (Moore et al 2006). It will also show
what legislative body governing auditors are doing because users of financial statement are
searching for auditors whose obligations covers: report of correct records, assurance that the
financial statement is of true and fair view, company guards against errors and fraud, auditors are
abiding by the rules and so on (Percy 2007).
In light of ethical principle, we will discuss its role in audit failure in the last few decades showing
... Show more content on Helpwriting.net ...
This practice is addressed here on account of the capacity of the free market to rebuff auditor failure;
the dynamism indicated by members in connection to the deliberate appropriation of new self–
administrative approaches and the high costs and questionable adequacy of the new regulations
embraced (Arruñada 2004). A more reasonable methodology that would give the business time to
find the productive blend of administrations, quality shields what 's more, firm structures is exhorted
(Arruñada 2004). Current administrative propensities, the primary component of which is obligatory
evaluating, safeguarding against threats and progressively incapable regulation.
BODY/ DISCUSSION
The Fundamental Principles are situated out as a part assortment of the International Federation of
Accountant (IFAC), auditors are obliged to apply ethical norms that are at any rate as stringent as
those expressed in the International ethical Standards Board for Accountants Code of Ethics for
Proficient Accountants (the IESBA Code). The Fundamental Principles set out the commitments
placed on all auditors, regardless of whether they are practice. The five standards are situated out
beneath:
Integrity: implies not merely honesty, but fair dealing and truthfulness, straightforward, honest and
sincere in the approach to professional work.
Objectivity/independence: Auditor must be fair and avoid conflict of interest, prejudice. An auditor
should

Role of Internal Auditor
Thought leadership series
Risk and Advisory Services
Recent events have highlighted the critical role of boards of directors in promoting good corporate
governance. In particular, boards are being charged with ultimate responsibility for the effectiveness
of their organisations' internal control systems. An effective internal audit function plays a key role
in assisting the board to discharge its governance responsibilities. Yet how does the board – and its
audit committee – satisfy itself that internal audit is functioning effectively and efficiently?
The board's responsibility for internal controls
Through working with a broad ... Show more content on Helpwriting.net ...
3 Before deciding the reporting lines for internal audit, it is critical to consider the fundamental
distinction between the respective roles of the board (oversight) and management (decision making
and the execution of those decisions). Key activities which fall within the definition of effective
oversight include listening, asking questions, assessing and challenging answers. In many respects
this is exactly what an effective internal audit function does.
1 Smith, Sir Robert; "Audit Committees Combined Code Guidance", January 2003. 2 ASX
Corporate Governance Council; "Principles of Good Corporate Governance and

Why Should We Bother Analysis
A. 1. My children have always told me that I can sense and see things that most aren't able to. I love
to go on walks and during those walks I see, hear, and smell natures wonders; flowers, clouds,
butterflies, birds. I enjoy seeing and hearing them all. I don't go through life with my blinders up
very often. I try to take in everything that is there to see; this is where I feel closest to nature. 2. Why
bother? We have been hearing of the dire warnings regarding climate change for decades, starting
with Al Gore. We all know changes must be made, but how can we ensure that everyone will
participate in those changes. How can I as one person make enough adjustments in my lifestyle to
make a difference? And if no one else does, why bother? We have to bother. One at a time, when we
add it all up, we can make a difference. We have tried getting legislation passed to bring about
changes, but without everyone making an effort, that fell short. ... Show more content on
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We have to set an example for others to care as much as we do, start a "chain reaction of behavioral
change". We need to start thinking; get rid of the cheap energy mentality, and start living green; less
energy consumption, hybrids when at all possible, less resource waste, garden. Yes garden. Planting
a garden provides you an almost free meal and no "carbon footprint". This incorporates truly cheap
energy; good old sunshine, photosynthesis. You also can get exercise while you are weeding your
garden. Not only will you provide yourself with foods, you will be revitalizing the ground you are
working in. Natural fertilizers, compost, water and working the ground contributes to its health as
well. After a time, you might also realize there are other small things you can to make a

Essay On APES 110
Comparing the FIA code of Ethics with International Code of Ethics for Professional Accountants
APES 110
The APES 110 and the FIA code of ethics for professional accountants are more similar than
different even though there are a number of differences which is important. Nevertheless, this piece
of writing will focus mostly on the differences between the two codes of ethics, in a lot of cases,
applying the codes to similar information pattern will give in similar results. Furthermore there are
some difference and drafting conventions. For APES 110 it consists of three parts: Part A applies to
all members. In this part of the code it explains the overarching accountability to perform in the
public interest and the fundamental principles of ... Show more content on Helpwriting.net ...
Professional accountants are required to comply with the fundamental principles of APES 110 code
and apply to the "conceptual framework approach" in order to determine their compliance with the
fundamental principles whenever they know that situation or relationships may compromise their
compliance. While the responsibility is on the professional accountant to do this, the bulk of APES
110 code of ethics explains how the conceptual framework works in specific situations, for example
when receiving gifts or other inducements form a superior may threaten corporate accountants
independence. (Catherine Allen, 2010). Like the FIA code, the APES 110 provides guidance for the
more ordinary but certainly not all applied situations. In all the other instance, once a threat is
recognized, the APES 110 requires a professional accountant to evaluate the significance of the
threat and if the treat is irrelevant, no further evaluation is required, or if the threat is relevant than
consider whether safeguards could eliminate or adequately reduce the threat to an acceptable level.
Despite the principles vs. rule argument, the APES 110 code of ethics does contain actually rules, in
several instance the code states that the threat are so significant that no safeguards can be functional
to reduce or eliminate treats to an acceptable level for example, an audit team member could not
own stock in his or her client and apply safeguards to ease the threat to independence because the
APES 110 code of ethics prohibits audit team members from investing in their clients. (Catherine
allen,

The Role of Auditors in a Firm
Audit is determined by a formal examination of a firm's financial records, inspection of its accounts
and other related documents by accountants called auditors. Basically, auditing is a controlled
process which includes professional judgment and requires applying of analytical skills. Also, it
involves appropriate forms of expertise and its approaching. A team with professional skills perform
this task according to the relevant standards, for instance, International Standards on Auditing
(ISAs), International Financial Reporting Standards (IFRS), International Public Sector Accounting
Standards (IPSAS) or International Standards on Quality Control (ISQCs) and other applicable
equivalents.
The role of auditor as a specialist is to review the company's accounts in order to certify the
legitimacy and validity of its financial records. They work in the places like independent certified
organisations or accounting departments. Furthermore, auditors can give an advice and warn about
possible risks and cost savings that company could made. As money going in and out of
organisations, auditors examine the records and check if it is processed correctly. Their obligations
also include visiting factories for checking stocks and companies' equipment.
Actually, there could be internal or external auditors. Considering internal, they work for specialized
firms, large corporations or charities and as a part of a company's accounting team. That is to say,
internal auditors perform in the

Analysis Of The Companies Act 2006
The Government also got heavily involved and in this period and managed to pass 7 companies acts
in a relatively short period of time. Although it was almost two decades before another Companies
Act got passed. This act was the Companies Act 2006, which plays a large role in the UKs
accounting activities today. According to the Companies Act 2006, accounting standards are:
'...statements of standard accounting practice issued by such body as may be prescribed by
regulations. (Companies Act, 2006) In accordance with the Companies Act 2006 'There are no
specific legal or statutory requirements dealing with the sole trader and partnership accounts in the
Companies Act or elsewhere.' (Dyson, 2010). This essentially means that the owners of ... Show
However, non–publically traded companies in the UK can choose between the UK Accounting
Standards and the Companies Act 2006; or just the IAS on its own. Another piece of legislation is
the Sarbanes Oxley Act (SOX). The purpose of this act is to protect investors from fraudulent
accounting activities by corporations (Investopedia, 2017). In response to the poor financial
practices of the 60s, The Institute of Chartered Accountants in England and Wales (ICAEW)
founded the Accounting Standards Steering Committee (ASSC) in 1970. Later that decade, it was
renamed the Accounting Standards Committee (ASC). The ASC went on for another 14 years before
it was replaced by the Accounting Standards Board (ASB). The main purpose of the ASB is to
develop and issue accounting standards and principles; to address urgent accounting issues and to
work in unison with other accounting institutions. The ASB operates under the Financial Reporting
Council (FRC) which is a private limited company, and the standards issued by the ASB are called
Financial Reporting Standards (FRSs). In the early 70s, the International Accounting Standards
Committee (IASC) was born. The priority of the IASC was to improve comparability of financial
statements on an international level. It then changed its name to the International Accounting
Standards Board (IASB). The main aim of the IASB is not too dissimilar from the IASC '... to
develop a single set of high quality,

Regulation Standardising Accounting Practice
University of Wollongong Research Online Faculty of Business – Accounting & Finance Working
Papers Faculty of Business 2006 Regulation: Standardising Accounting Practice M. Gaffikin
University of Wollongong, gaffikin@uow.edu.au Publication Details This working paper was
originally published as Gaffikin, M, Regulation: Standardising Accounting Practice, Accounting &
Finance Working Paper 06/22, School of Accounting & Finance, University of Wollongong, 2006.
Research Online is the open access institutional repository for the University of Wollongong. For
further information contact the UOW Library: research–pubs@uow.edu.au 06/22 University of
Wollongong School of Accounting & Finance Regulation: Standardising Accounting Practice ...
Show more content on Helpwriting.net ...
Thus, it was seen as necessary to maintain the integrity of the profession of accounting as the
capacity to effectively self regulate was viewed as one of the hallmarks of a profession. The
accounting profession, therefore, remained very private enterprise in keeping with the ideology of
capitalism. But, the state did intervene in creating the SEC as one of its functions was the oversight
of the published accounting information of publicly listed corporations. However, after much debate
between the SEC and the profession it was decide that the SEC would leave the profession to
develop principles of accounting practice which would eventually become generally acceptable as a
standard of professional performance. As indicated in the previous chapter, there have been varying
interpretations placed on the reason for the state's intervention in creating the SEC and why the SEC
delegated its accounting responsibility to the profession. Taken together, both the creation of the
SEC and the profession's serious attempts at effective self–regulation would tend to suggest that
they were necessary to preserve capitalism from the public disenchantment that marked the great
depression. These developments in the 1930s greatly affected processes of accounting regulation in
the United States. Questions surrounding the issues involved continued for many

The Ethical Code Of Ethics
INTRODUCTION
This essay will discuss the ethical code that has major influence on audit failure and what scholars
are saying towards auditor's credibility and auditor's code of ethics because when a company goes
bankrupt the auditor's independence is questioned and shaken (Moore et al 2006). It will also show
what legislative body governing auditors are doing because users of financial statement are
searching for auditors whose obligations covers: report of correct records, assurance that the
financial statement is of true and fair view, company guards against errors and fraud, auditors are
abiding by the rules and so on (Percy 2007).
In light of ethical principle, we will discuss its role in audit failure in the last few decades showing
the unexceptional high rate of accounting and audit scandal. The situation has turn into a basic issue
in corporate America. A vast, freely exchanged partnership gets an unqualified audit report, and
presently from that point falls with the news that the financial statements are terribly misquoted. In
what manner can this happen over and over unless there are some kinds of problem with the ways
these organizations are audited, such as audit of groups, private and public sector. According to
Sarbanes–Oxley Act of 2002 the end goal to restore the trust and faith of the public in auditors was
the formation of the Public Company Accounting Oversight Board.
However, legislators have been utilizing audit failure as reasons to present extra

The Audit Expectation Gap Analysis
The audit expectation gap
The meaning of the expectation gap involves argument concerning the contradictory meaning of
what an audit is to user of financial statement, the public and the audit profession. Expectation gap
is the difference between what the public assumes to be the role of audit and what the audit
profession claim their role is in carrying out the audit function. . All the theories above describe the
expectations the stakeholders have of the auditors, including protection against fraud, warning of
future insolvency, general re–assurance of financial well–being, safeguards for auditor independence
and understanding of audit reports. Although these expectations seem to be rather natural, however,
an audit expectations gap does exist based mostly on the diversity of views about the audit function.
The gap exists between what the public expects the auditor to do and what the auditor can and
should do. Several suggestions were made to narrow the expectations gap, as well as providing
statutes in order to describe audit functions especially concerning the responsibility to detect and
report errors and fraud.
Component of audit expectation gap
Reporters have credited the expectations gap to mean that users of financial statement are confused,
ignorant or lack education. Porter in his analyses divided the expectation gap into three different
component which includes a) sub–standard performance b) deficient standards and c) unreasonable
expectations. a) The

Internal Auditing in an Organization and Its Effects on...
CHAPTER ONE
INTRODUCTION
1.1 Back ground of the study.
An audit is the examination and checking of financial statements by a professional auditor or
accountant who has had no part in its preparation. The process involves an examination of the
evidence from which the final revenue accounts and balance sheet, or other statements of an
organization have been prepared, in order to ascertain that they present a true reflection of the
summarized transactions for the period under review and of the financial state of the organization at
the end date, so enabling the auditor to report thereon. The objective of the ordinary audit of
financial statements by the independent auditor is the expression of an opinion as to the fairness
with which ... Show more content on Helpwriting.net ...
Auditor's business and professional futures depend on integrating attest services with, the
information user's demand and delivery systems they can use. This integration will involve
developing attest services to deal with 1) relevance as well as reliability 2) non–financial
information as well as traditional financial statements 3) electronic databases as well as printed
financial reports. Traditional attest functions have therefore expanded resulting in an equally
expanded assurance function to involve the expression of written or oral conclusions on the
reliability and / or information systems.
We can summarize the main objectives of auditing therefore as: 1. The confirmation of the accuracy
of accounts and statements 2. Detection of errors and frauds. 3. Prevention of errors and frauds.
However, to qualify as an auditor, one must be a member of the institute of Chartered Accountants
as defined under the Chartered Accountants Act 1963 (170) and must not have been disqualified
from acting as an auditor by any legislative instrument by the registrar. An auditor, therefore, is a
person who reports on the accounts of an organization or enterprise. Nevertheless; there are two
types of audit, namely Internal and External audit. But for the purpose of our study; we would want
to concentrate much on internal audit.

Case 3 Flight Of Funds
C A S E 3
Asian Journal of Case
Research
4(S): 27 – 44 (2011)
Flight of Funds
MOHD NOOR ABU BAKARa, MARIATI NORHASHIMb*
AND ABDUL HAMID MOHAMED GHOWSc
ABSTRACT
In 2006, Malaysian Travels Sdn Bhd, a subsidiary of a public listed company, purchased 40% equity
in Turkistan Global Services Sdn
Bhd on the basis of a project paper which outlined a potential travel business to exploit opportunities
in Turkistan. Turkistan Global
Services Sdn Bhd purported to have acquired the opportunity through a Memorandum of
Understanding (MoU) signed by a Malaysian
Minister with a Turkistan Minister for exclusive rights to handle logistic arrangements for the
promotion of businesses between the two countries. However, other than the shares contract, no ...
However, he realised that, as a CEO, he could not spend his time scrutinising every single detail.
Instead, he should focus on the bottom line and cash flow of the organisation. He knew that, in
doing so, he could quickly get to the truth of the company. His first strategy would be to call for a
meeting among the senior management staff and ask them to brief him on the organisation to
discover the current state of affairs. He had been well aware that the team was going to want to
make things look good. So, he had to be vigilant for any sign of weakness.
He always had a particular concern about 'relationship based' transactions, which he knew was quite
prevalent in Malaysia. Transactions between "friends',
"connected" or "favoured" persons sometimes lacked commercial justification
28
Flight of Funds
that led to undesirable consequences. He noted that the organisational chart of
TIH showed several investments by a subsidiary which indicated to him that, to ensure

accountability, he had to watch out for any evidence of issues that had been swept under the carpet
and any possible lack of proper procedural practice.
During the first briefing by the senior staff, he noticed that there had been an investment made by a
subsidiary, Malaysian Travels Sdn Bhd (MTSB), in 2006, which had shown no movement since. He
asked for an explanation from the senior management team, but was met by hushed murmurs. As
they discussed

Management Control and Their Limitations
Management controls, their limitations, and the nature of social constraint: the implications for
corporate governance practice Draft (M.Phil/Ph.D) research proposal by Peter Carroll University of
Greenwich, Business School Paper presented at the Management Control Association workshop at
The Institute of Chartered Accountants in England & Wales, Friday 27th February 2009 Draft
research proposal (approval by University's research committee to be obtained) Please do not quote
without permission. Comments welcome to the author at cp89@gre.ac.uk Abstract A series of
corporate collapses over the last two decades has generated consider–able debate and a
strengthening of corporate governance requirements. But throughout the belief has ... Show more
Or are management controls never anything more than a contingent accomplishment within the
'dialect of control' in which both parties always have some resources (and rules) at their disposal to
influence outcomes? And, whatever its basis, the extent (including limitations) to which reliance can
be placed upon management controls? Aims & objectives The research seeks to make a contribution
to: corporate governance debate and audit practice in relation to the doctrine of reliance upon
systems of internal control; our understanding of management controls as human activity/social
systems and the role of social constraint; social theory especially relations between human agency
and social structure, and emergence within social reality; and at a methodological level, by
developing a critical realist approach to the study of management controls. Literature review It
seems highly likely that such corporate collapses involved significant breakdowns in control within
these organizations, but there is no systematic study of them from a management control theory
perspective. The corporate governance doctrine of reliance upon internal/management controls has
remained extensively unchanged during this period and it is now an established feature of regulatory
practice. For instance, FRC's Combined Code (2008) requires boards to conduct a review of the
organization's internal controls, at least

Analysis Of Morgan Security Audit Pricewaterhouse Cooper
J.P.Morgan security audit Pricewaterhouse Cooper INTRO According to Institute of Global Ethics
"Ethics in its broader sense, deals with human conduct in relation to what is morally good and bad,
right and wrong. It is the application of values to decision making. These values include honesty,
fairness, responsibility, respect and compassion" (He 2017) therefore they are principles of right
conduct. Unlike morals which are the principles of right/improper conduct depends person to
person. BODY In 2012, PricewaterhouseCooper (PwC) was fine by AADB The Accountancy &
Actuarial Discipline Board, financial regularity authority in United Kingdom, for wrongly reporting
that J P Morgan have complied with statutory requirement. This negligence in ... Show more content
on Helpwriting.net ...
In 2010, the AADB started investigations into the conduct of professional firms, such as EY and
JPMorgan (En.wikipedia.org, 2017). The PwC were charged £1.4mllions by the AADB after failing
to report that the investment bank JP Morgan's systems is not as per the statutory requirement and
are not sufficient to safeguard the clients' assets (Treanor, 2017). JP Morgan had been mixing their
clients funds with their own's for a period of seven years. It was PwC's task to submit a report to
Financial Services Authority (FSA). The report suggested that JP Morgan have followed and
complied with relevant framework and had in place internal control system to safeguard clients'
funds. An investigation led by FSA revealed that JP Morgan is guilty of violating the rules of not
segregating their funds with their clients'. This is lead to doubt in professional integrity of PwC's
work. This error, if quantified, meant "an average of £5 billion of client money was at risk each day"
(Treanor, 2017). "JP Morgan was fined £33millions in June 2010 for failing to segregate client
money from its own funds over a seven–year period" (Treanor, 2017). Furthermore, PwC admitted
that it has failed to

Ethics : The Principles Of A Culture Individuals,...
Ethics are the principles of a culture individuals, organisation or groups. It is also moral values
which cultures or individual holds, such as the moral judgment and their decision making whether
something is right or wrong. The decisions that may be impacted by ethics are rejecting a route
which will increase their short terms profits due to it being unethical. This is an important aspect of
business, as this affects the relations between different businesses and their workers but also affects
how successful the business will be.
Ethical behaviour is very important to business as it may bring significant benefits to the firm and its
workers, such as attracting customers to their products by increasing their trust through ethical
behaviour which will increase their sales and profits. Ethical behaviour also attracts more talented
and well educated workers which means not only can the firm increase its productivity but also
boost their success through having more qualified workers.
However if a business lacs ethical behaviour it could bring many disadvantages to the business such
as damage the business reputation which will discourage stakeholders and shareholders to invest
into the business which will decrease its profits.
Scot as a management accountant is expected to take of series of tasks to ensure their company is
financially secure. Management accountants are the key employees which determine the status and
success of a firm.
Some of the tasks which scots is

Essay On Alignment Of International Standards
Good Afternoon, I am representing the Institute of Chartered Accountants in England and Wales and
am here to discuss our perspectives surrounding the alignment of international standards. Thank you
for allowing us to present our comments on the proposed standard at hand. First and foremost, we
are pleased with the further alignment of IAASB standards and know that these insights will benefit
US investors and investors worldwide, and should contribute to the enhanced functioning of the US
and global capital markets. To continue, we are very pleased that PCAOB has decided not to define
how CAM are to be described, and have instead developed a list of matters to be covered that is very
similar to the list used by the IAASB. We have identified ... Show more content on Helpwriting.net
...
We wish to note that the UK has had a pleasant experience with the enhanced reporting regime. The
UK has a strong and mature profession and deep and liquid capital markets, in which the threat of
litigation involving auditors arises relatively infrequently. Thank you for including us in this
discussion and thank you for your time. I'm going to pass it off to Klaus to discuss these matters
further. 1. Why don't you see potential lawsuits surrounding client confidentiality as main threats?
We do believe that potential lawsuits are a threat but by looking at historical evidence in the UK
litigation surrounding client confidentiality is infrequent. However, if the probability of potential
litigation is high or if lawsuits are deemed to be likely surrounding client confidentiality we would
recommend to consult the SEC as the UK has had little to no issues with this. 2. You said the
reporting regime has worked well in the UK, are there any areas of opportunities that you've seen?
Was there a difference in firms who accepted fully the new reporting regime and firms who did the
bare minimum and what was the effect on investors? The reporting regime has worked very well in
the UK. A key opportunity that we have noted is to encourage firms to fully accept the new
reporting regime. We have seen an increase in investor confidence surrounding firms that

What Accounting And Finance Is And Why It Has An Important...
INTRODUCTION
This report focuses primarily on the understanding of what Accounting and Finance is and why it
has, and will continue to be, an important aspect of any business – further exploring its subsequent
relevance in guiding those who work in these areas.
WHAT IS ACCOUNTING?
Accounting, a practice which goes back many millennia, arises from the concept which Britton and
Waterston (2005, p. 03) believe came about when managers (known then as stewards) had to
"account for their stewardship of the owners' money". Fundamentally, this idea brought forward by
Britton and Waterston, is possibly a leading factor when trying to understand what accounting is
which is defined by the Institute of Chartered Accountants in England and Wales ... Show more
While this may be the case, the final aim of preparing all these documents is to assist people by
communicating to them information on which they will subsequently make a decision on.
WHAT IS FINANCE?
Finance, similarly to accounting, assists people with their decision making. The difference being
that finance focuses mostly on the way a business entity raises and invests funds. According to an
extract from the University of North Carolina Wilmington titled, "What is Finance?", "finance
incorporates the study of money and other assets, the management of those assets and being able to
profile and manage project risks". In this way, it is clear to see how accounting and finance are
linked because without accounting information, none of the above incorporations would be possible.
Finance can be divided into three categories: public, personal and corporate finance.
 Public finance is the study of the role of the government in the economy and how resources are
allocated (Atkinson and Stiglitz. 1980)
 Corporate finance is the area of finance which dealt with the way a business sourced funds and
used them to increase the overall value of the business.
 Personal finance is simply the finance that an individual deals with taking into considerations
risks and future events.
TYPES OF ACCOUNTING
There are various types of Accounting which serve different purposes but are of equal significance
when it comes to the well–being and

Managing Financial Principles and Techniques
ASSIGNMENT BRIEF
Introduction
This unit will give learners a foundation in financial principles and techniques relevant to the
strategic management process. It encourages learners to explore the nature of cost–based financial
data and information, the impact of the budgeting process on the organisation, and the development
of cost reduction and management procedures and processes. It also focuses on the management of
these costs through the use of forecasting, appraisal and financial reporting procedures. One of the
main objectives of this unit is for learners to develop the confidence to apply, analyse and evaluate
financial and cost information.
Areas of Learning
Be able to apply cost concepts to the decision–making process ... Show more content on
Helpwriting.net ...
On the basis of the answers a, b &c above, make justified strategic investment decision for the PEG
Limited and advice with reasons as to which machine should be purchased.
Define Internal Rate of Return (IRR) and state one way in which it can be arrived at. Please explain
with suitable graph.
(A.C 5.1, 5.2 and 5.3)
Task 6
For the year ending 30 April 2008 the comparative summarised financial data for two companies in
the same commercial sector was as follows:
Heath Ltd Fork Ltd $000 $000
Fixed assets (net) 52 54
Current assets:
Stock 48 64
Debtors 30 80
Cash 42 16 ––– ––– 172 214
Less: Current liabilities

Accounting Standards And Financial Statements
Introduction
Every business has to prepare its financial statements for its investors and making its business
decisions. Company's financial conditions are of major concern to the investors and creditors. As
capital providers they rely on the financial statement for safety and profitability of their investments.
They are also interested in knowing where and for what purpose their money is being used.
Financial statements present the financial health of the entity.
What are Accounting Standards?
A principle that guides and standardizes accounting principles. Accounting standards are necessary
so that financial statements are meaningful across the world with wide variety of business, otherwise
the accounting rules of different companies would make comparative analysis almost impossible. An
accounting standard is a guideline for financial accounting, such as how a firm prepares and presents
its business income and expense, assets and liabilities.
Uk accounting standards are under institute of chartered accountants of England and wales
(ICAEW). Financial reporting In UK is guided by a regulatory framework called UK GAAP
(Generally accepted accounting principles) IFRSs (International financial reporting standards) are
developed and issued by the IASB (International accounting standard board)
Advantages of Accounting Standards
It facilitates achieving harmonization of accounting practices across nations.
It helps in reaching out to global investors.
It helps in taking

An Investigation Into Smes Survival and the Discrimination...
Introduction
In a competitive global market, micro, small and medium–sized enterprises (SMEs) play an
increasingly important role in a nation's economy. Today they make a substantial contribution to job
creation, innovation, as well as entrepreneurial skills. A report conducted by European
Commision(2005) stated that in the enlarged European Union of 25 countries, 23 million SMEs
provide about 75 million jobs and account for 99% of all enterprise. SMEs are also the vital
attributes for lifting the productivity of economy. This is primarily because SMEs are been
considered as having a key role to play in providing new products. Take UK for example, SMEs
have become more and more dynamic. SMEs have enjoyed higher productivity growth than ... Show
So in order to survive, firms have to look out for financial threats to the firms' solvency and
maintain effective management control over their finances.
2. Human capital
In most SMEs, power is centralized in the hands of the owner–managers and the owner–managers
always play multiple roles in a company, including general manager, sales manager, production
manager, financial manager and so on, so that characteristics of the owner–managers, such as
education background, family business background, personal goals, previous work experience,
strategic awareness have a significantly impact on firm's activities and performance. Several studies
indicate that in SMEs, the personality of the owner–managers is a critical determinant of corporate
structure and strategy(Miller and Droge 1986; Miller and Toulouse 1986). Owner–managers who are
inability to motivate staff, rarely listen to others' advices, have little knowledge of marketing
strategy, finance, and personnel management may act as a significant constraint to SMEs' survival.
On the other hand, owner–managers are not experts at everything, many owner–managers in small
firms are lack of the leadership and management skills which are necessary for the firms' survival
and growth. Deakins and Freel (1998) found that one of the critical factors in the success of a SME
was the ability to build an 'entrepreneurial team'. The presence of a diversified management team
may imply a greater variety of complementary

Folio Kerjaya
MAKTAB RENDAH SAINS MARA KEPALA BATAS PULAU PINANG
FOLIO KERJAYA:
ACCOUNTANT
NAME : MUHAMMAD SYAZWAN BIN MAHADI
IC NO. : 950513–07–5091
CLASS : 505
COLLEGE NO. : 08071
GURU :MRS. HASLINA BINTI ABDUL AZIZ
No. | Title | Page | 1. | INTRODUCTION | 3–4 | 2. | W – Work Condition | 5 | 3. | I – Implications
For Lifestyle. | 6 | 4. | N – Nature Of Work | 7 | 5. | N – Need By Society And Community | 8 | 6. | E
– Entry, Training And Prospects | 9–14 | 7. | R – Related Occupations | 15–20 | 8. | S – Succesful
Personal Attributes | 21–22 | 9. | ACCOUNTANCY IN MALAYSIA | 23–28 | 10. | UNIVERSITY
THAT OFFER ACCOUNTING | 29–34 | 11. | Are The Monthly Salaries For Accountant. | 35 | ...
With accounting constantly changing and since it covers such a wide array of complex topics, there
is no way one person can know everything there is to know about the subject. Thus, teamwork
makes projects more attainable. Accountant hours can range from the traditional 40 hours a week to
more strenuous hours. Some, especially in public accounting, work 45 hours a week and anywhere
from 55 to 80 hours a week during the three–month busy season. Dress in at an accounting firm is
normally business casual.
I – Implications for Lifestyle This study examines whether Lifestyle Preferences affect attrition or
influence career attitudes of early–career public accountants. The research follows an initial sample
of 253 newly–hired, entry–level public accountants (133 male accountants and 120 female
accountants). Analysis of data on career attitudes and Lifestyle Preference collected after three–
years indicates an association for female accountants' data but not for male accountants. The
research also finds that career attitudes have higher explanatory power for intentions to remain in
public accounting for female accountants than male accountants. While job satisfaction, liking one's
job, and intentions to remain in public accounting were all associated with female accountants' level
of effort to be successful, there was no association between effort and these variables for male

Cobit Framework
COBIT
3rd Edition
®
Framework
July 2000
Released by the COBIT Steering Committee and the IT Governance InstituteTM
The COBIT Mission:
To research, develop, publicise and promote an authoritative, up–to–date, international set of
generally accepted information technology control objectives for day–to–day use by business
managers and auditors.
AMERICAN SAMOAARGENTINAARMENIAAUSTRALIAAUSTRIA BAHAMAS
BAHRAIN BANGLADESH BARBADOS BELGIUM BERMUDA BOLIVIA BOTSWANA
BRAZIL BRITISH VIRGIN ISLANDS CANADA CAYMAN ISLANDS CHILE CHINA
COLOMBIA COSTA RICA CROATIA CURACAO CYPRUS CZECH REPUBLIC DENMARK
DOMINICAN REPUBLIC ECUADOR EGYPT EL SALVADOR ESTONIA FAEROE ISLANDS
FIJI FINLAND FRANCE GERMANY GHANA GREECE GUAM GUATEMALA HONDURAS
HONG ... Show more content on Helpwriting.net ...
The Information Systems Audit and Control Foundation, IT Governance Institute and the sponsors
make no claim that use of any of the Works will assure a successful outcome. The Works should not
be considered inclusive of any proper procedures and tests or exclusive of other procedures and tests
that are reasonably directed to obtaining the same results. In determining the propriety of any
specific procedure or test, the controls professional should apply his or her own professional
judgment to the specific control circumstances presented by the particular systems or IT
environment. Disclosure and Copyright Notice Copyright © 1996, 1998, 2000 by the Information
Systems Audit and Control Foundation (ISACF). Reproduction for commercial purpose is not
permitted without ISACF's prior written permission. Permission is hereby granted to use and copy
the Executive Summary, Framework, Control Objectives, Management Guidelines and
Implementation Tool Set for non–commercial, internal use, including storage in

Accounting System and Financial Reporting of Ngos: Case...
Accounting System and Financial Reporting of NGOs: Case Study of a BRAC's Project
Munima Siddika1, Mohammad Sarwar Jahan Rekabder2 and A.K.M. Delwar Hossain3
tawheedfj@yahoo.com
Abstract: In the absence of specific accounting and financial reporting standards and diverse
interpretation of certain terms under the laws of the land, it has become a very difficult task to
follow a standardized procedure in generation and presentation of accounting and financial
information of NGOs. The practices followed by NGOs in Bangladesh are varied and diverse and
there by preparation of financial statements are incomparable and difficult for uses to understand.
The paper tries to demonstrate financial reporting and accounting system of a BRAC's ... Show
b. Three laws and ordinances for regulation the relationship of such associations with the
Government: The Voluntary Social Welfare Agencies (Regulation and Control) Ordinance, 1961; the
Foreign Donation (Voluntary Activities) Regulation
68
Ordinance, 1982. This Forms the basis for registration with the NGO Affairs Bureau (NGOAB);
the Foreign Contribution (Regulation Ordinance 1982) Government organization, The NGO affairs
Bureau, has been carrying out NGOs registration and processing of funds. NGO Bureau examines
and evaluates reports submitted by NGOs and the checking of their income and expenditure
accounts. The inspection and audit of accounts kept by NGOs are under section 4 and 5 of the
Foreign Donation (Voluntary Activities) Regulation Ordinance 1978. As per Bangladesh Chartered
Accountants Order 1973, the NGO Affairs Bureau will prepare a list of Bangladesh Chartered
Accountants for annual audit of NGO accountants. The NGOs prepare their annual program report
within three months of ending the financial year and send copies to NGOAB's Economic Relation
Divisions, Concern Ministries, Concerned Deputy Commissioner and Bangladesh Bank, the
following information should be incorporated with it: (a) project should be shown separately in the
annual report. The main theme of project based report should expenses against actual target
achieved in detail on the proposal, expenses

International Accounting Standards : Standards
International Accounting Standards
What are International Accounting Standards? The International Accounting Standards or IASC are
accounting standards issued by the International Accounting Standards Board or IASB and its
predecessor, the International Accounting Standards Committee or IASC.
The International Accounting standards were started in 1966 after a proposal that was presented to
create an International Study group that included the Institute of Chartered Accountants of England
and Wales or the ICAEW, American Institute of Certified Public Accountants or the AICPA, and the
Canadian Institute of Chartered Accountants or the CICA. In the beginning, the International
Accounting Standards was not considered a "committee" but a ... Show more content on
Helpwriting.net ...
Later, additional sponsoring members were added to the IASC which consisted of all groups that
were members of the International Federation of Accountants or the IFAC. From 1973 until the
reorganization in 2000, the governing structure of for setting the International Accounting Standards
was known as the International Accounting Standards Committee or the IASC. For 27 years
beginning in 1973, The International Accounting Standards Committee released a series of
International Accounting Standards before being replaced by the International Accounting Standards
Board. Since then, all new standards published have been issued as International Financial
Reporting Standards or the IFRS.
Convergence
Over the years, the International Accounting Standards Board and the US Financial Accounting
Standards Board have been working diligently together to converge the IFRS and the Generally
Accepted Accounting Principles or GAAP. This has been a high priority for quite some time yet
there has not been a complete convergence between the IFRS and FASB.
For many years, countries have created their own accounting standards which was either rules
based, principle based, tax oriented, business based, etc which as a result, made them all different.
There eventually came a need for harmonization since the world was undergoing globalization. As
we approached the late 1990's, we saw two predominant standards which was GAAP and IFRS. It is
now clear that the world is moving to a more

Bannerman Clause Pros And Cons
The Bannerman clause sets out to protect the auditors, intern one looks to see how this clause erodes
the professional image of the accounting profession, while limiting the audit report to addresses.
The Bannerman clause is a direct consequence of the court case between Royal Bank of Scotland
(RBS) and Bannerman Johnstone Maclay and Others (The Royal Bank of Scotland v Bannerman
Johnstone Maclay and Others, [2002]). The firm APC LTD employed Bannerman as an auditor;
Bannerman audited APC's financials and prepared an audit report for the directors of APC,
subsequently APC sent the audited financial statements to RBS. The financial reports and audit
statement were used to secure loans to APC. RBS argued that Bannerman owed a duty of care to
RBS, as third parties would rely on the audited ... Show more content on Helpwriting.net ...
The Institute of Charted Accountants of England and Wales (ICAEW) issued a technical bulletin
Audit 01/03 recommending that audit reports now should have disclosure limiting liability (The
Institute of Chartered Accounants In England and Wales, 2003). On the opposite side of the
argument the question was raised as to whether the added disclaimers undermine the accounting
profession and raise more unanswered question than they leave answered. The Association of
Chartered Certified Accountants (ACCA) issued a technical factsheet regarding this disclosure
stating the "their incorporation as a standard feature of the audit report could have the effect of
devaluing that report" (Technical Factsheet 84 – The Use of Disclaimers in Audit Reports, 2004).
Meanwhile, academic circles seemed to follow the factsheet from ACCA, Dr Hooper agued that the
"disclaimers undermine the concept of public interest and are more like a screen to legitimate the
profession (Hooper & Xu,

Advantages And Disadvantages Of Accounting
SECTION A Question 1 Accounting is the recording of financial transactions plus storing, collating,
retrieving, overviewing, and presenting the information in different reports and analyses.
Accounting is also a profession consisting of individuals having the formal education to carry out
these tasks which is accountant. (What is accounting? | AccountingCoach. (n.d.)) Accountant is a
practitioner of accounting or accountancy, which is the measurement, disclosure or provision of
assurance about financial information that helps managers, investors, tax authorities and others
make decisions about allocating resources. The Father of accounting and bookkeeping was an
Italian, Luca Pacioli. He was the first person to publish a work on double–entry bookkeeping, and
introduced the field in Europe. In nineteenth century, accounting began to transition into an
organized profession with local professional bodies in England merging to form the Institute of
Chartered Accountants in England and Wales in 1880. Accounting is an information science used to
collect, classify, and manipulate financial data for organizations ... Show more content on
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An organization using historical cost has some advantages which is simple and verifiable method for
an organization. When an audit exam the company financial information, a company can prove that
it is validity and reliability based on the document. For example, an organization can show the
document such as invoices to an audit to prove the amount that record in financial statement is true
and accurate when an audit question that amount. Besides, historical cost accounting very helpful in
making decisions. Manager of an organization will make decisions based on the past purchase price.
For instance, manager will decide to increases or decreases the amount of stock based on the past
purchase price to maximize the profit. ( Historical Cost Principle | Examples | My Accounting
Course.

Armstrong Accountancy Essay

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Armstrong Accountancy Essay