Family Businesses And Corporate Governance In Serbia

Family Businesses and Corporate Governance in Serbia
CORPORATE GOVERNANCE IN FAMILY BUSINESSES IN SERBIA
PhD Katarina Djulic, Faculty of Economics, Finance and Administration, kdjulic@fefa.edu.rs
MSc Tanja Kuzman, Faculty of Economics, Finance and Administration
PhD Katarina Djulic is Assistant Professor at FEFA on subjects of Corporate Finance and Corporate
Governance. She also works as Senior Consultant in KPMG Serbia. She worked as an Associate
Operations Officer at the International Finance Corporation, World Bank Group, on the Corporate
Governance Program. She holds a Bachelor of Law from the University of Belgrade, a Master of
Law (LL.M.) from Northwestern University, a Master in Public Policy from Harvard University
JFK School of Government, and a PhD degree from the University of ... Show more content on
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Key words: family businesses, corporate governance, scorecard, board of directors, transparency,
controlling environment.
Paper classification: Case study.
INTRODUCTION
Family businesses are one of the oldest and most common forms of business organizations, drivers
of economic growth and economic development, representing a large percentage of the total number
of companies in the world. Family businesses in most countries in the world account for over 70%
of the total number of businesses and have very significant impact on economic growth and
employment. For example, in the U.S. family businesses create 59% of new jobs, while their share
in the GNP is 50%, and they represent nearly 90% of all businesses (Kuratko and Hodgetts, 2004).
Family businesses in Spain and Latin America produce, respectively, 75% and 60% of the GDP
(Network for Family Enterprise, 2008). Poutziouris (2000) also notes that in addition to economic
growth and employment, family businesses build entrepreneurial spirit and enable knowledge
transfer between generations as well as development of a sense of loyalty, long–term commitment
and corporate independence. Therefore it is considered that the creation, growth and sustainability
of family businesses is crucial for the development of national economy.
According to data of the KPMG Canadian Centre for family business in next 20 years 15 trillion
dollars of wealth in the world will be transferred from one

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Essay on History of Auditing
| |
|The History of Auditing |
|A detailed overview |
| |
| |
| ... Show more content on Helpwriting.net ...
Margin borrowing by investors allowed huge amounts of debt to be taken on without proper risk
mitigation. Investors, knowing no better, had dumped small fortunes into the market. The fragile
infrastructure of the system couldn't handle the load and eventually caved in. Those companies that
would survive the crash needed standardization and change in order for the investors' faith to be
restored. The Federal Trade Commission stepped in to fill this need. The first official document:
"Verification of Financial Statements," which was solely dedicated to provide guidance for audit,
was released the same year as the crash. This document dove further than the previous decades'
pamphlets did, focusing in on small and medium sized companies, as well as the general need for
the customized auditing tailored to each different companies, based on need. In response to the
extreme amounts of personal wealth destroyed during the stock market crash in 1929 and the
ensuing depression, Congress was forced to take even more action. The suggested guidelines
outlined by the FTC were just not enough to ensure a stable economy. The regulation of business
and the accounting firms is commonly recognized to have been born just after the Securities and
Exchange Commission (SEC) was established in the mid 1930s. Despite public investment being in
an advanced stage at the time, corporate regulation

Clinical Audit Case Study
COMPARE PERFORMANCE WITH CRITERIAAND STANDARDS Clinical audit is a change
process therefore all audits must include a programme for change activity as a consequence of audit
findings (Burgess, 2011). This process begins with the analysis of the data collected, identifying the
clear areas of underperformance, and how it can be improved as well as areas of over performance
(Shankar et al., 2011). IMPLEMENT CHANGE The implantation of clinical practice change is
often the most difficult part of an audit project. The specific changes needed will be determined by
the specific circumstances of the audit the clinical area under audit but needs to include provisions
for staff education and may include new protocols and guidelines (Shankar et al., 2011). Changing
staff behaviour to follow guidelines is a complex ... Show more content on Helpwriting.net ...
Changes to work practices may initially appear to improve safety but may actually not prove to be
any safer. This consequence are often over looked and the failure is usually contributed in part by
the failure of operating theatre staff to follow the safety protocols, and a general resistance to new
practices over those that are familiar to staff (DeGirolamo, Courtemanche, Hill, Kennedy, &
Skarsgard, 2013). The audit is a cyclical process and forms part of continuous quality improvement
system. Re–audit is the final stage of the audit cycle and should be conducted within twelve months
of any changes implemented. A re–audit should collect a second data set of a comparable number
from the first, the objective of which is to review the changes implemented following the initial
audit, identifying any further areas of clinical practice improvements (Shankar et al., 2011).

Letters from Prison Essay
Letters from Prison
Sadly when reading this article the most amazing lesson that jumps to mind is how easy it is for a
bright business manager and a growing company to run into trouble for failing to follow basic
business measurement principles. Constant vigilance and observance of the financial documents is
imperative to ensure a healthy growth for any company and professional career.
Computer Associates International, Inc. (CA) was a four–person start–up founded in 1976. CA
produced software for IBM computers to assist businesses with database, application, and financial
management software related computing needs. Stephan Richards joined the company in 1988 as a
recent college graduate and had a meteoric run directly up the ... Show more content on
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As long as a manager clearly directs his accounting team and managers to respect the matching
(Process threw which expenses associated with revenue are identified and measured), conservatism
(safeguarding against overstatement of asset values and owners' equity), consistency (requiring that
once an entity has selected an accounting method for a kind of event or a particular asset, that the
same method should be used for all future events of the same type and for that asset), and
materiality (ability to recognize which an accountant does not need to attempt to measure and record
as significant or insignificant events on the financial reports) concepts as the company continues to
grow than the company will be in good health.
Revenue recognition and its important role cannot be ignored in this analysis. CA clients were
delaying signing of contracts leveraging time in their favor to obtain better discounts. If Stephan had
changed his sales method (through monitoring of his internal controls and proper risk assessment) to
resolve how his clients were leveraging the contract signing timeline in their favor he would have
prevented the situation giving birth to the need of improper revenue recognition. Perhaps he would
have provided discounts for early contract signers that outweighed the late signing benefits, thus
revenue could be more accurately predicted and recognized without needing to backdate contracts.
The accounting problem that ultimately led Stephen to jail

Prefab Sprout Company Essay
The Prefab Sprout Company is a construction company which develops and constructs modular
home enclosures in South Florida. Though being listed on the New York Stock Exchange (NYSE), it
is still a family–run business with about 40% of the shares resting with the Warner family. This
working paper provides a thorough analysis of Prefab's internal structure and its external business
relations from an auditor's viewpoint. In particular, the potential business and audit risks that could
possibly evolve from an audit engagement are central to this study.
Before coming to a decision whether or not accepting an audit engagement at Prefab Sprout
Company, the auditor should obtain business–related background information and evaluate the risk
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At Prefab however, the audit committee is composed of the vice–president, the treasurer and a local
college professor. Thus, only one member can be regarded as not being directly associated with the
company. This situation is a serious weakness in Prefab's accounting and internal control system,
thereby increasing the risk of fraudulent activities in regard of the financial statements.
A similar problem arises with the compensation committee, which comprises Prefab's lawyer and an
employee who is selected on a rotating basis. As there are no explicit conditions for compensation
committee membership, Prefab does not infringe upon any law. However, it is commonly agreed
that the compensation committee should be representative of the company's shareholders. Even if
the Warner family still has a 40% stake in Prefab, it is problematic that the top executive is part of
the committee. Moreover, the lawyer and the employee can be expected to be biased in their
decisions as both are financially dependent on the company. Neither of them would probably risk
their financial stakes by for instance lowering top management's salaries.
Auditors that are new to an engagement are obliged by law to get in touch with the predecessor
auditor of the prospective client. This regulation facilitates the information gathering process of new
auditors and can already

Does skepticism by the auditor would enhance audit quality
Introduction
The importance off skepticism in performing audits has been recognized from the time the very first
auditing standard was implemented (Fullerton and Durtschi, 2012). The recent financial crises and
audit failures have caused the profession to reassess and emphasise the importance of skepticism
during an audit engagement, ensuring that auditors increase their level of skepticism (Fullerton and
Durtschi, 2012). Auditors are now asked to expand their skeptical perspective to the level used by
forensic experts, which according to Fullerton and Durtschi (2012) assumes that management is
dishonest unless there is evidence to disprove this. The following summary discusses whether a
higher level of skepticism by the auditor would ... Show more content on Helpwriting.net ...
The effectiveness of an audit procedure and its application is enhanced by the application of
professional skepticism and reduces the possibility that the auditor might select an inappropriate
audit procedure, misapply an appropriate audit procedure, or misinterpret the audit results (IAASB
staff question and answers, 2012).
Is audit quality enhanced by a higher level of skepticism
Fullerton and Durtschi, (2012) in their study found that internal auditors should adopt an elevated
attitude of skepticism, as they are the first line of defense for finding fraud within a firm. Internal
auditors, have an intimate knowledge of the workings of a firm, the corporate environment, as well
as employee activities are in a unique position to spot many of the symptoms of fraud to which an
external auditor may not be aware. Thus internal auditors should be more skeptical and use their
knowledge to enhance their fraud detection in firms (Fullerton and Durtschi, 2012). This is one of
the key inputs into the factors that drive audit quality as external auditors rely on inputs from
internal auditors in obtaining the evidence they require to produce the audit report (Fullerton and
Durtschi, 2012).
Internal auditors are as per Fullerton and Durtschi (2012) obligated to be alert to the signs and
possibilities of fraud. External auditors focus on misstatements in the financial statements that are
material in

Integrated Audit Practice Case 5th Edition Solutions Essay
Integrated Audit Practice
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Dessalegn Getie Mihret.
Department of Accounting and Finance, Faculty of Business and This PDF book provide ethiopian
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Peach Blossom Cologne Company: Short Audit Case, 1998
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NARUC Rate Case and Audit Manual Institute of Public Utilities
NARUC Rate Case
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Rate Case and Audit Manual Prepared by NARUC Staff. Subcommittee on Accounting and Finance
(2003). 1 FOCUSING THE AUDIT. . OPERATING EXPENSES

Fda's Warning Letter
Introduction Warning letter is the Food and Drug Administration's (FDA's) practice to give
individuals and firms an opportunity to take voluntary and prompt corrective action before it
initiates an enforcement action, when it sees public health is on risk depending on the nature of the
violation. Warning Letter is issued by FDA to the firm or individual to achieve voluntary
compliance with law by most of individuals and firms. The FDA is thinking that Warning Letters are
issued only for violations of regulatory significance that may lead to enforcement action of the
Federal Food, Drug, and Cosmetic Act for promptly and adequately correction of violations. If a
correction action not taken by individual or firm, the FDA can enforced the action such as recall,
seizure, injunction, administrative detention, civil money penalties.FDA can initiates enforcement
action without giving warning Letter, or other prior notice. A Warning Letter is informal and
advisory and in certain ... Show more content on Helpwriting.net ...
There is a violation of CGMP; 3. The product contains illegal pesticide residues; or 4. The product
shows short contents, sub potency, or super potency. Key issues The rights, safety, and welfare of
the human subjects in those studies have not been protected under 21 CFR 312.60. Data integrity
and validity not maintained during whole clinical trial. The investigation was not conducted
according to the investigational plan (Study Protocol) which is required by 21 CFR 312.60. Failure
of maintaining adequate and accurate case histories that record all observations and other data
pertinent to the investigation on each individual administered the investigational drug or employed
as a control in the investigation required by 21 CFR 312.62(b). Good Clinical Practice not followed.
Applications of corrective actions in investigational plan did not satisfy FDA. Why whole clinical
trial went wrong and correction action taken by investigator did not satisfy FDA? Background of
this

Audit Interview Paper
1. Have you ever supervised an audit project at an overseas location?
Yes, currently I am leading 2 Senior Auditor and most of the audits which we performed here in
Catalent include 2 to 3 members. 1 is a lead auditor and other 2 seniors are team members. We also
have Guest Auditor program and in that we take 1 guest from other department for audit. Guest will
work with seniors and reporting to lead. 2. Describe an operational audit that you have done? I did
some of the operational audit in different departments:
a. Financial Department: Review and give suggestion to improve the Inventory maintenance process
in the clinical operation.
b. Sales/Marketing Department: Review and suggest the Controls related to the Government
Contracts, which has Federal Acquisition Regulations Controls (FARs).
c. HR Department: ... Show more content on Helpwriting.net ...
Have you ever performed audit work in support of the external auditors? Yes, I work with Catalent
external auditors number of times during the last 8 years.. Every year external auditors provide us
the audit program and we performed on their behalf audit to 2 or 3 manufacturing sites. External
Audit Manager reviews our work papers and relied on them. 4. Do you work better with a clear,
consistent audit program or are you open to making judgments and being "ready for anything" in the
field? Consistent audit program is only the guidance to perform the audit but every site/place is
different style of working and objective is same to follow the company policy and GAAP rules. Till
they follow the company policy and not against the GAAP rules, I am open to accept and make the
necessary change in the audit program. 5. Have you ever presented audit results to the senior
manager at a site or within a function? Yes, number of times. In Catalent, we have three different
steps in the report presentation.
First is at the end of Field work, which we called Closing meeting and presented to Finance Director
and Site General

Lge 500 Week 10 Discussion 1&2 Essay
"Underlying Causes" Please respond to the following:
Analyze at least three underlying causes for the creation of the Sarbanes–Oxley Act. Next, rank the
causes that you have analyzed from the most important to the least important to the creation of the
Act. Explain your rationale.
In the later part of 1990s, there was an epidemic of accounting scandals which arose with the
disclosure of financials transgressions by trusted corporate executives. The misdeeds involved
misusing or misdirecting funds, understating expenses, overstating the value of corporate assets or
underreporting the existence of liabilities, and overstating of revenues.
Some of the companies involved in the creating accounting practice in the late 1990s and early ...
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There were a lot of pointing fingers in the accounting scandals that plagued the economy in the
1990s within the companies involved. Congress decided to hold the CEO and CFO responsibility
for any financial misreporting. This made the third most important causes of creating SOX.
Determine three most important provisions of the Sarbanes–Oxley Act. Provide a scenario or
example of each to justify why each provision that you determined is important
Sarbanes–Oxley was motived by the never–ending waves of corporate financial scandals by Enron,
Arthur Andersen, WorldCom, Waste Management, Global Crossing etc. There are 11 sections in the
act. There following are the three (3) most important provision in the Sarbanes Oxley Act due to the
simple fact that The US Congress were trying to enact a law to combat corporate fraud and
misleading of investors:
The three (3) most important provisions of Sarbanes–Oxley include: * Creation of PCAOB *
Auditor independence and a prohibition on audit firms offering value–added (read "conflict of
interest") services * Certification of financial reports by CEOs and CFOs
First, Congress saw the need to create an independent body to oversee the audit of public companies
that are subject to the securities laws. PCAOB was established to protect the investors and further
the public interest in the preparation of informative, accurate, and independent audit reports for
public companies. Before the SOX, The

Pinnacle Manufacturing Case
Original Work please
INTEGRATED CASE APPLICATION –PINNACLE MANUFACTURING:
PART II
9–37 (Objectives 9–7, 9–8)
In Part I of the case, you performed preliminary analytical procedures for Pinnacle (pp. 245–247).
The purpose of Part II is to identify factors influencing risks and the relationship of risks to audit
evidence.
During the planning phase of the audit, you met with Pinnacle's management team and performed
other planning activities. You encounter the following situations that you believe may be relevant to
the audit:
1. Your firm has an employee who reads and saves articles about issues that may affect key clients.
You read an article in the file titled, "EPA Regulations Encouraging Solar–Powered Engines
Postponed?" After ... Show more content on Helpwriting.net ...
Use each of the three factors in the text to categorize your conclusions:
External users' reliance on financial statements
Likelihood of financial difficulties
Management integrity
As the Independent Auditor I would require from Pinnacle, the client a Management Representation
Letter. This is a letter an auditor is required to obtain from management at the conclusion of
fieldwork, confirming representations explicitly or implicitly given to the auditor, indicating and
documenting the continuing appropriateness of such representations, and reducing the possibility of
misunderstanding regarding the representations.
b. Assess acceptable audit risk as high, medium, or low considering the items you identified in
requirement a. (A risky client will be assessed as a low acceptable audit risk.)
I will identify the audit risk as high.
c. Identify inherent risks for the audit of Pinnacle using the information from Parts I and II. For each
inherent risk, identify the account or accounts that may be affected. (1)Related Parties – A reporting
entity's affiliates, principal owners, and management also, any members of their immediate families.
Points of consideration is a Pinnacle VP owning Todd–Machinery, its repair men working at
Pinnacle at the time the auditor was at field work, while standing in front of vending machine.
(2) While reviewing Pinnacle's long–term debt

Essay Acct3102
Question | ONE Accountants owe the duty to act in a professional and ethical manner concerning
clients, as well an obligation to respect the laws that are involved with the profession. This is where
a crossroads of ethics and legalities are formed and potentially the defining point of crucial
decision–making. Stephen Richards and his actions under employment with Computer Associates
(CA) are then examined in light of this concept. Accusations against Stephen Richards permitting
the backdating of contracts unlawfully were confirmed, giving sanction to the unethical nature of his
behaviour. Henderson describes that illegal behaviour will not be deemed unethical when the legal
system, accounting profession and society all agree upon the ... Show more content on
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CA would no longer be participating in fraudulent behaviour but referred to as adopting earnings
management strategies or "aggressive accounting". These flexibilities within the constraints of
regulations therefore socially and legally accepted in the accounting profession. Question | TWO
Within the accounting profession, "grey areas" are created through the vague definitions between
legal and illegal. Often difficulties arise when there are such pressures to meet expectations that it
comes down to "individual interpretation" (Soltes, 2011). Richards' belief that the vulnerability of a
company can derive from subjective decision–making in these "gray areas" exposes a void in which
managers should be monitoring more closely. "Strong governance involves balancing corporate
performance with an appropriate level of monitoring" "(Brown et. al, 2011). CA has culturally been
described as to "live[d] on a knife edge", in regards to the expectations on performance, explains
Richards. Even his involvement in the board only dealt with operational aspects leaving strategic
and directional managing unaccounted for. "Non performance was not accepted. My behaviour...
was a direct result of these pressures" (Soltes, 2011). It is fair to say that management should have
played a better role in providing guidance for situations that involved such ambiguity when
performance based demands were causing biased

The National Health Care Billing Audit Guidelines
Internal and outside auditors have a heavy role and responsibility in performing audits, preventing
major accounting errors, and following (GAAP) guidelines. Several duties comprise the role of
internal and outside auditor to follow specific protocol and ensure ethical standards are priority. The
National Health Care Billing Audit Guidelines are relevant to address as well as why audit failures
happen. Finally, how internal vary from external audit and why audits are overall important to
health care organizations. It's vital for health care organizations to maintain all necessary standards
to conduct proper audits and uphold ethical standards for the financial health of the organization.
Outside Auditor's technique for Accuracy
In the ... Show more content on Helpwriting.net ...
Furthermore, when the internal control is fixed, the outside auditor can rely on the clients system
and less audit testing can be conducted. When everything is improved, the management letter is
given to the organization's top management and not disclosed to the public, (Finkler, S. A., Ward, D.
M., & Calabrese, T. D., 2013). Next, is the auditor's report that entails the opinion letter usually
written in three paragraphs and given to the board of trustees. Then, the opinion paragraph is added
on to state the organizations financial statements are in accordance of the financial position and
followed through with (GAAP). The clean opinion addresses the opinion of the auditor and the
overall exercising of professionalism. Also, the complete opinion of the financial statements is to
give a representation of the organization. All other opinions may be included and can be addressed
by adverse opinions if (GAAP) was not in accordance. A qualified opinion can be added if a specific
area wasn't included in the financial statement when needed. Finally, the management reports are
conducted by the management team and not the auditors. The management report is the annual
report the topics included in the report are the internal control system and the responsibility of the
audit committee.
Audit Failures
Audit failures are unfortunate for any health care organization and failed audits are due to financial
statements falling under lack of

My Accomplishments Of Employee Appraisal
Employee Comments: An employee self–assessment is an important part of a yearly performance
appraisal and it is created for the employer to see this employee's achievements. October 10, 2015
marked my fifth year with this company and I consider this a significant accomplishment. Over the
last five years, I have been able to meet the needs of the company despite of the constant changes to
include: the use of two new systems (CMS, Avaya Chat). Throughout this review period, I received
numerous awards recognizing me for teamwork, flexibility, professionalism and customer service. I
was promoted into the role of a triage consultant II in the month of August. And in the month of
September, I was promoted into my current role of program trainer. ... Show more content on
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Flexibility: There are times when team meetings and other events interfere with call volume. Often
times, I reach out to my supervisor to offer my wiliness to be flexible during times of increased call
volumes. Because of this, I was recognized by my supervisor for being willing to change my
schedule to meet the needs of the company.
As the program trainer, I have demonstrated my ability to be flexible by participant with remote
trainings, changing my schedule to meet business needs, and traveling to the Chesapeake
engagement centers in order to complete trainings.
Professionalism and Customer Service: In the triage consultant's role, I offer excellent customer
service to all participants and exceptional professionalism to my co–workers. Despite the pressures
of maintaining the call volume expectations, I was able to continue excellent customer service. As I
greet participants that call, I ensured that participants were feeling comfortable with providing
information, especially confidential information. I introduced myself and ask for their contact
information in a pleasant and welcoming manner. For example, I said statements including: "my
pleasure" and "I would be more than happy to assist." Those statements often alleviated some of the
pressure of providing information for the participants. I also took the time to identify participants'
needs by asking questions and

United States Surgical Corporation
United States Surgical Corporation
Prepared by
Alex Gonzalez & Daniella Trinchet
for
Professor C.E. Reese
in partial fulfillment of the requirements for
ACC 540 – Fraud Examination
School of Business / Graduate Studies
St. Thomas University
Miami Gardens, Fla.
Term A7 / Fall, 2014
October 24th, 2014
Table of Contents Issues 1 Facts 2 Analysis 5 Conclusions/Recommendation 12
References/Bibliography 14
Issues
1. What audit procedures that, if employed by Ernst & Whinney during the 1981 USSC audit,
might have detected the overstatement of the leased and loaned assets account that resulted from the
improper accounting for asset retirements?
2a. For USSC to extend the ... Show more content on Helpwriting.net ...
6. When a CPA firm has two audit clients that transact business with each other should the two audit
teams be allowed to share information regarding their clients? Facts United States Surgical
Corporation (USSC) was founded by Leon Hirsch in 1964 with very little capital, four employees

and one product. The one product was an unwieldy mechanical device that he intended to market as
a surgical stapler. Hirsch had already tried several lines of business and each had little success.
Hirsch made USSC into a large and profitable public company traded in the national exchange. His
surgical stapler revolutionized surgery techniques in the United States and abroad. Hirsch was the
dominate company in the small surgical stapling industry but in the 1980's was losing market share
from competing companies domestic and foreign. Hirsch's main competitor at the time was a
company owned by Alan Blackman. Blackman's company sold its products primarily in foreign
countries but was attempting to significantly expand in the U.S. Blackman and Hirsch were former
friends and Hirsch states that Blackman has infringed on USSC's patents by reverse engineering the
company's products. In 1980's, USSC began an aggressive counterattack to repel Blackman's
instruction into its markets. USSC adopted a worldwide litigation strategy to

Clinical Audit Analysis
Introduction A clinical audit is an approach used to determine if healthcare is administered in the
most effective and appropriate manner whilst meeting internationally recognized standards. The
National Institute for Health and Care Excellence (NICE)(1) recently updated published standards
of care for management of Acute Upper Gastrointestinal bleed (UGIB). The medical records of
eighty–seven patients who presented with an upper gastrointestinal bleed over a three month period
from December 2013 to February 2014 to the Port of Spain General Hospital (POSGH) were
audited. Results showed that recommendations in the NICE guidelines were followed accordingly.
Acute upper gastrointestinal bleed (UGIB) can be defined as bleeding from a source (duodenum, ...
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The incidence of acute upper gastrointestinal haemorrhage in the United Kingdom ranges between
84–172 /100,000/year, equating to 50–70,000 hospital admissions per year(1). The most common
presentation include hematemesis, melena, and/or hematochezia(5). Negative outcomes include
rebleeding and death with many deaths due to decompensation of coexisting medical conditions.
Increasing age, comorbidity and endoscopic findings predict prognosis (6,7). Peptic ulcer disease is
the most common cause of UGIB, accounting for more than 50% of cases of non–variceal UGIB(8).
Older age, male gender and NSAID use independently predict gastric ulcer bleeding. Higher
mortality rate if acute upper GI bleed started after admission especially in older persons (9,10).
Various risk–stratification tools have been for UGIB in order to determine prognostication. The
Blatchford and the Rockall scoring systems are commonly used whereby higher score predict
greater risk for rebleeding or death (11). The aims of this article are to assess patient demographics
and comorbidities, determine timely, efficient use of hospital re in terms of endoscopic intervention
and proton pump inhibitor

Role of a Community Nurse in Clinical Audit
What is the role of a community nurse in CLINICAL AUDIT?
The primary goal of the clinical audit is to improve the quality of patient care. Therefore the role of
the community nurse in the clinical audit is to work toward this end goal. Specific duties that define
the community nurse's role in the clinical audit will vary depending on environmental variables.
According to Collis (2006), the role of the community nurse in the clinical audit is as change agent.
To be a change agent, the nurse engages every possible tool and strategy used in the audit process.
The community nurse is also in a position of leadership, and is someone who "who empowers,
encourages and enables staff to undertake audit by providing the necessary support and resources,"
(Collis, 2006). Innovation is also part of the community nurse's role in the clinical audit, which
requires deft creative thinking skills (Collis, 2006). Moreover, a community nurse can serve to
verify data via the use of health informatics and thereby also ensure the timeliness of the audit
reporting (Edwards, Pickard & Van Burkel 1991). The community nurse also has the opportunity to
solicit as much patient involvement and support as possible, as patient support is critical to the
success of the audit (Collis, 2006).
How can a community nurse contribute to LOCAL AUDIT.
A community nurse contributes to the local audit by engaging and empowering members of the
community. The nurse provides direct support to personnel, also

Unintended Discrimination Case
1. As the new manager for the Revenue Cycle division, I know that each department (scheduling,
pre–registration, registration verification, financial counseling, billing, so on) provides an
opportunity for error and risk resulting in unpaid claims. What kind of compliance plan is in place to
minimize inaccuracies?
a. First, we have established written policies and procedures that is the Standard of Conduct.
Employees are expected to follow the standards set forth in the plan as well as applicable laws. It is
important to point out that our Corporate Compliance Plan is flexible and readily adaptable to
changes in regulatory requirements. Our plan is reviewed annually and modified as necessary. We
have a centralized revenue cycle process ... Show more content on Helpwriting.net ...
Do the coding compliance department report audit results?
a. Yes– all audit results are reported and distributed with respective departments. Results are
reported with coding, clinical, and billing departments to ensure that correct claims are properly put
into place.
9. Does the revenue cycle department have adequate resources for carrying out its mission?
a. The department's budget is audited annually to ensure that the stakeholders are able to perform
their duties. Moreover, staff utilization and workflow audits are also conducted to ensure an accurate
revenue cycle process.
10. Who is responsible for the chargemaster so that we maybe reimbursed properly?
a. An up–to–date and accurate chargemaster is vital to the organization seeking truthful
reimbursement. An incorrect CDM could result in overpayment/underpayment, claim rejections,
fines and penalties. Our CDM is not the exclusive responsibility of one individual but rather a
committee composed of key facility representatives. The CDM is review periodically and proper
maintenance requires expertise in coding, billing, clinical, and health record

Essay on Smackey Dog Foods, Inc. by Ljubomir
External Auditing (AC 555)
Professor: Marie Wang
Project: You Decide– Smackey Dog Foods, Inc. by LJubomir Gataric
Questions:
Q1: Discuss how the SEC has influence (if any) over the audit of Smackey Dog Foods, Inc.
Solution:
The SEC assists in providing investors with reliable information upon which to make investment
decision. The Securities Act of 1933 requires most companies planning to issue new securities to the
public to submit a registration statement to the SEC for approval. The Securities Exchange Act of
1934 provides additional protection by requiring public companies and others to file detailed annual
reports with the commission. Smackey Dog Food, need to file next forms:
Form S–1. "S" forms apply to the Securities ... Show more content on Helpwriting.net ...
This control is directly related to the accuracy transaction–related audit objective for sales. The
auditor might test the effectiveness of this control by examining a sample of duplicate sales invoices
for the clerk's initials indicating that the unit selling price was verified.
Auditors also evaluate the client's recording of transactions by verifying the monetary amounts of
transactions, a process called substantive tests of transactions. For example, the auditor might
compare the unit selling price on a duplicate sales invoice with the approved price list as a test of
the accuracy objective for sales transactions. Like the test of control in the preceding paragraph, this
test satisfies the accuracy transaction–related audit objective for sales. For the sake of efficiency,
auditors often perform tests of controls and substantive tests of transactions at the same time.
Perform Analytical Procedures and Tests of Details of Balances (Phase III)
There are two general categories of phase III procedures. Analytical procedures use comparisons
and relationships to assess whether account balances or other data appear reasonable. For example,
to provide some assurance for the accuracy objective for both sales transactions (transaction–related
audit objective) and accounts receivable (balance–related audit objective), the auditor might
examine sales transactions in the sales journal for unusually large amounts and also compare total
monthly

Regulatory Compliance And The Auditing Process
Situation
The purpose of this SBAR request is to help the Regulatory Compliance and Privacy Team
standardize the auditing process, perform more comprehensive auditing, better assist internal and
external customers ', and make appropriate recommendations to Executive Management, Hospital
Departmental Managers, Physician Practice Administrators, Human Resources professionals,
Finance, Administration, Nursing and Medical Staff professionals regarding privacy and compliance
incidents and incident investigations that result in employee disciplinary actions and recommended
employee terminations.
We are getting significantly more regulatory, privacy, information security and compliance requests
from nursing, risk management, legal services, ... Show more content on Helpwriting.net ...
As of June 21, 2016, the Compliance and Privacy Department auditors have investigated over 9600
investigations pertaining to regulatory compliance and privacy incidents from June 2015 to June
2016. And thousands more went un–investigated because of insufficient access to the appropriate
EPIC modules and systems audit trail viewers.
Background
The Compliance and Privacy Department is a complex unit whose job functions and duties crosses
every department in the hospital, from clinical to housekeeping, to administration to finance, and to
patient access to information technology, just to name a few. We are required to look at each
discipline's EPIC modules and audit trail viewers to make incident determinations, chart access
appropriateness or inappropriateness, and employee disciplinary and termination recommendations
to managers, regional medical directors, medical directors, hospital and nursing executive staff
members, and human resources professionals.
The Compliance and Privacy Department answers request for assistance from every department, to
include: ambulatory care, physician practice, hospital administration, allied health, nursing,
transplant, imaging, health information management, pathology, transcription, coding, scheduling,
finance, surgery, nurse triage, call management, revenue cycle, patient access, patient finance,
pharmacy and information technology.
Currently, the Compliance and

Sarbanes Oxley Act and the PCAOB Essay
The Sarbanes–Oxley Act Overview:
The development of the Sarbanes–Oxley Act (SOX) was a result of public company scandals. The
Enron and Worldcom scandals, for example, helped investor confidence in entities traded on the
public markets weaken during 2001 and 2002. Congress was quick to respond to the political crisis
and "enacted the Sarbanes–Oxley Act of 2002, which was signed into law by President Bush on July
30" (Edward Jones, 1), to restore investor confidence. In reference to SOX, penalties would be
issued to non–ethical or non–law–abiding public companies and their executives, directors, auditors,
attorneys, and securities analysts (1). SOX significantly transformed the procedures in which public
companies handle internal ... Show more content on Helpwriting.net ...
Title I: Public Company Accounting Oversight Board: The PCAOB gives a new meaning to the
public accounting industry. The board must be composed of five members, appointed for a 5–year
term, two of which are Certified Public Accountants (CPAs) or have previously been CPAs, and
three of which have never been CPAs. The chair of the PCAOB may be a CPA, but only if he has
been out of practice for at least five years. "The members must be independent of the accounting
profession as no member may, concurrent with service on the board, share in any of the profits of, or
receive payments from, a public accounting firm, other than fixed payment such as retirement
payments" (4). All members of the PCAOB must be appointed by the Securities and Exchange
Commission (SEC). The board performs various jobs which include: "oversee the audit of public
companies, establish audit report standards and rules, inspect, investigate and enforce compliance
on the part of registered public accounting firms and those associated with the firms" (4). Not only
do public accounting firms who audit the financial reports of public companies have to register with
the PCAOB, but foreign public accounting firms must register as well. The standards of auditing
include:
A seven–year retention period for audits work papers, second partner review and approval,
evaluation of whether internal control structure and procedures include records that accurately
reflect transactions and dispositions of

Smackey Dog Food Essay
Thea, nice work on the paper! You answered almost every question competently and thoroughly.
The only question you might have done better on is Q10 for more detail on the rules that apply..
Thank you!
Worksheet for You Decide
Name Thea Zental____ Course Code AC 555_____ Grade ___ Date 02/19/2012
Questions:
Q1: Discuss how the SEC has influence (if any) over the audit of Smackey Dog Foods, Inc.
Solution:
The SEC (Securities and Exchange Commission) has a great influence on the audit of Smackey Dog
Foods, Inc., which is conducted by Keller CPAs.
When auditing a publicly held company, auditors need to observe principles. The ethical principles
of the American Institute of Certified Public Accountants (AICPA) Code of ... Show more content
on Helpwriting.net ...
After this they can assess the risk. The first risk they may want to look at is the control risk by
taking a look at how the internal controls system works at Smackey Dog Foods.
Stage 2: Test of internal controls – By testing the effectiveness of the internal controls the auditor
can determine the control risk that lies within the company. The audit team can perform tests of
controls by making inquiries of appropriate client personnel, examining documents, records, and
reports maintained by Smackey, observing control–related activities such as the one done for the
inventory procedures for returned Best Boy Gourmet dog food, and re–perform the client
procedures.
Stage 3: Substantive tests of Transactions – The Smackey audit team needs to perform substantive
tests on the balances of the accounts receivables and inventory accounts. Moreover, substantive tests
can be done through performing substantive tests of transactions, analytical procedures and test of
details of balances. By running tests of transactions, which is similar to test of internal controls the
auditor will take an invoice but this time verifying the monetary amount of the transaction.
Stage 4: Audit Completion – At this stage, the audit team compiles a report to Smackey's
management as regards

Beginning The Audit Report A Essay
Beginning the Audit Report
October 25, 2007
Mr. Joe Bootwell
Executive Senior Vice–President & CFO
Apollo Shoes, Inc
100 Shoe Plaza
Shoetown, Maine 00001
Dear Mr. Bootwell,
Thank you for choosing Team D Auditing for your audit needs. This letter is to inform you on how
we plan to begin the audit process for your company. We will be performing an audit on the
financial statements for Apollo Shoes for the year ended December 31, 2007 in order to provide
reasonable assurance that the statements are presented fairly and are presented in accordance with
Generally Accepted Accounting Principles (GAAP) (Arens, Elder, & Beasley, 2012). We will begin
the audit by reviewing the statements as well as your organizational charts and the ... Show more
content on Helpwriting.net ...
We request that the company can provide us with adequate evidence necessary to perform the audit.
It is critical that we have access to information and files including the minutes, besides to be able to
inquire personnel and the observation of procedures as necessary.
We have the responsibility that if a material weakness and or a significant deficiency are discovered
in the performance of the audit, it should be communicated to the audit committee in writing
(PCAOB, 2014). The management is also responsible to adjust the financial statements to correct
material misstatements found during the audit; if the correction are not done because they are
immaterial, it should be stated as part of the representation letter were management is confirming
their responsibilities during the audit (PCAOB, 2014).
Our out of pocket expenses and fees are estimating in $200,000, which covers the hours spent
during the audit. If anything may affect this estimate we will let you know. Our fees are due when
we complete the audit (Raspante & Vono, 2014).
We are very enthusiastic to be your new auditors and we hope to fulfill your expectations. If you
agree with this agreement, please sign in the space provided; keep a copy for your records and
return us the original signed.
If you have any further questions, please do not

Internal Controls Protect Businesses Essay
American stockholders have billions if not trillions of dollars invested in various publicly traded
companies throughout the country. With that much money involved, it is only wise that there be
control measures and safeguards put into place protect these investments from any unlawful or
irresponsible activity. Publicly traded companies are required by law to develop such measures.
These measures are often referred to as internal controls. These internal controls exist for two main
reasons. One reason being, to keep the employees honest. With so much money and other assets
involved in business every day, the temptation to steal or misuse those assets cannot be ignored.
Humans are flawed beings and measures need to keep such activity from ... Show more content on
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Internal controls are can be set up in several different ways based on several basic principles. One
very important principle is to establish responsibility. It is important to clearly identify who is in
charge and who is accountable for certain tasks. Without accountability, individuals will simply
"pass the buck" and avoid taking responsibility whenever something bad happens.
Companies must also set up physical control measures to safeguard assets. Several examples of such
safe guards are limiting access to cash through the use of safes and pass code protected registers.
Security cameras and alarm systems are also effective control measures.
Companies also segregate or separate related tasks and assign them to different individuals. This
makes it extremely difficult for employees to steal or misuse assets because they cannot completely
conceal their activities. For example, where I work, there are over 100 company vehicles.
Supervisors assign the vehicles, while employees drive the vehicles, and a separate vehicle
management officer (VMO) maintains vehicle usage records. If someone wanted to use a vehicle in
an unauthorized manor, they would have to somehow fraudulently obtain a vehicle from a
supervisor, use the vehicle without other employees finding out, and then conceal the use of fuel and
mileage from the VMO. The task is not impossible, but extremely difficult to accomplish. Using
independent

The Importance Of Clinical Audit
The aim of the Nursing and midwifery council is to regulate nurses and midwives in England,
Wales, Scotland and Northern Ireland.(Nursing and Midwifery Council, 2016). The NMC is set to
protect the public and to represent and campaign on behalf of nurses and midwives. (Nursing and
Midwifery Council, 2016). Furthermore the NMC regulates healthcare setting and
hospitals,regulates healthcare assistants and also set staffing level to ensure high quality of care the
first time round for service users.(Nursing and Midwifery Council, 2016).
Clinical Audit was introduced to the NHS in 1993. The 1997 White Paper The New NHS reinforced
the position of Clinical Audit as an essential element of professional practice in the health service.
(Dartford and Gravesham NHS trust, 2017).Clinical audit is a way to find out if healthcare is being
provided in line with standards and care providers and patients know where their service is doing
well, and where there could be improvements.Clinical audits play a part in implementing clinical
standards,clinical guidelines and evidence based medicines.The NHS England however defines
clinical audit as a way to find out if healthcare is being provided in line with standards and let's care
providers and patients know where their service is doing well, and where there could be
improvements. (NHS England, 2016) The aim of clinical audit is to allow quality improvement to
take place where it will be most helpful and will improve outcomes for service users

Evaluation Of A Report On The Audit
Methodology
The audit will be conducted on an approximate 4 wards, these wards comprise the individuals most
likely to be 'high risk' and in need of a 'red tray', such wards include:
1. Stroke ward
2. Elderly ward
3. Rehabilitation ward
4. Paediatric ward
The data for the audit will be collected from patients and ward/nursing staff in these wards. The data
will be collected from 95% of the patients in each ward and 95% of ward staff in each ward. The
data will be collected via 3 different sources:
1. 95% of the patients in the 4 selected wards will be distributed a qualitative questionnaire to
identify patient views on the RTS, & to see if the RTS is being properly implemented (See appendix
C). The data will be collected by the ... Show more content on Helpwriting.net ...
However, the audit tools are reliable and can be easily repeated by others.
The observations of mealtimes (See appendix E) will be analysed by distributing the collected data
on a bar chart; where the data can be interpreted more efficiently by displaying the total numbers of
patients who require assistance, receive assistance and receive red trays across all the observations
for breakfast, lunch and dinner.
The analysis of the patients questionnaire may be time consuming, as it's in paper format – meaning
that the questions and respondent data will have to be manually transferred into spreadsheet
software, with each question assigned a column, and row for each person's answer, with each
answer being assigned a 'code'. Once all the data from each questionnaire has been entered in the
spreadsheet; it should be checked for accuracy. The data can then be transferred to a bar chart, to
display the data, for simple analysis.
The ward staff questionnaire (See Appendix D) is quantitative and can be analysed by reading the
questionnaires, putting them into categories and assigning 'codes'. Though, this is a time–consuming
method and highly subjective with the questionnaires having an increased risk of being interpreted
incorrectly.
Ethics & Confidentiality
One major ethical concern is to make sure informed consent is given by the patients to allow for (1)
the conduction of observations on them during mealtimes and (2) their participation in
questionnaires. Patients

Essay about Campbell Soup Company Audit
Campbell Soup Company
Background
Campbell was founded shortly before the start of the Civil War. Abraham Anderson and Joseph
Campbell began manufacturing canned vegetables and fruit preserves. In 1976, Campbell bought
out Anderson's interest and renamed the firm the Joseph Campbell Preserving Company. Later,
Arthur Dorrance was Campbell's new partner. In the early 1920s, John Dorrance, Arthur Dorrance's
nephew, was the sole owner of the Campbell Soup Company, which was the largest producer of
canned soup products. Unfortunately, as the twentieth century was coming to a close, the nation's
appetite for condensed soup products was waning. The weakening demand prompted the company's
executives to use an assortment of questionable ... Show more content on Helpwriting.net ...
These practices are trade loading, improper accounting for loading discounts, shipping to the yard,
and guaranteed sales.
Trade Loading
Campbell offered sizable trade discounts near the end of accounting period to entice customers to
make product purchases that they would otherwise defer. By this way, a company can use price
concessions to prop up its reported revenues and profits. Plaintiffs pointed out that PwC auditors
were aware of the excessive trade loading by their client and this should have been a "red flag" for
PwC to investigate the possibility that their client was fraudulently misrepresenting its operating
results. The judge agree with the plaintiffs that PwC's workpapers revealed the firm was aware of
Campbell's disproportionately sales near the end of quarterly reporting periods. However, the he
disagreed with the assertion that PwC should have considered those heavy sales a red flag. Instead,
he pointed out that PwC's workpapers referred to the large, period–ending sales as a "traditional"
trend in Campbell's operating results.
This "traditional" trend may apply to Campbell's business environment, but may not to other
industry. An auditor had better understand the industry environment he or she involves in to judge
whether disproportionately sales near the end of quarterly reporting periods are normal or not.
Improper Accounting for Loading Discount
Whether PwC would remain a defendant was whether the audit firm realized that large

Acc 403 Week 7 Discussion Acc403 Week 7 Discussion
ACC403 Complete Course Week 1 to Week 11
Click below link for Answer visit www.workbank247.com
http://workbank247.com/q/acc–403–complete–course–week–1–to–week–11/9673
http://workbank247.com/q/acc–403–complete–course–week–1–to–week–11/9673
ACC 403 Week 1 Discussion
"Auditor's Role and Responsibilities" Please respond to the following:
Compare the primary auditor objectives in auditing historical financial statements to auditing
internal controls over financial reporting. Identify at least two (2) objectives that are the most
significant in reducing the risk of reporting errors or misstatements in financial statements. Provide
a rationale for your response.
Create a scenario where it would be acceptable for an external auditor to accept ... Show more
Provide a rationale for your response.
According to an article in the CPA Journal, the accounting profession has long contended that an
audit conducted in accordance with generally accepted auditing standards (GAAS) provides
reasonable assurance that there are no material misstatements contained within financial statements.
Suggest at least two (2) alternative methods that auditors can use to provide a more concrete level of
assurance to investors. Provide support for your responses with examples of such methods in use.
ACC 403 Week 3 Homework
Chapter 5: Problems 5–18, 5–20(a–d), and 5–22(a–e)
Chapter 6: Problems 6–23(a–b), 6–25, and 6–32(a–g)
ACC 403 Week 4Discussion
"Evidence Collection Procedures" Please respond to the following:
According to an article in the CPA Journal, the auditor considers reliability of audit evidence
collected and the reliability of that evidence to reduce the risk of financial statements containing
undetected material errors. Compare and contrast at least two (2) types of evidence, and make a
recommendation as to which you believe is the most reliable in reducing risk. Support your position.
From the e–Activity, analyze the primary ways

"There Is No Point Reforming the Rules on Auditors If the...
"There is no point reforming the rules on auditors if the liability regime continues to be as lax as it
currently is." Discuss.
Auditors provide a key investigation function in the business world. The law in relation to the
liability of auditors changed significantly with the introduction of Companies Act 2006. It is now
possible for audit firms to limit their liability towards clients through contractual agreements. The
current auditing liability regime has proven to be controversial. This essay will first present the
relevant liability rules and examine the underlying problems, then evaluating the significance of
these rules with regard to auditing reforming.
Overall, an auditor can be liable either in contractual, tortious or ... Show more content on
Helpwriting.net ...
After then the decision of Caparo Industries plc v Dickman outlined the three–fold test: 1) There
should be a relationship of 'proximity' between the parties. 2) The resulting damage is reasonably
foreseeable. 3) 'The situation should be one in which the court considers it fair, just and reasonable
that the law should impose a duty of a given scope.'
This is not an easy test to meet. Firstly, a "special relationship" is required for the third party to
claim that the defendant auditor owed him a duty of care. In order to define this concept, Lord
Oliver outlined further conditions for the claimant to establish sufficient proximity with the
defendant party. Thus the relationship of proximity is hard to specify which placed increasing
difficulties on claimants. Secondly, once the claimant has established that the auditor did have a
duty of care towards him, he will then need to show that this duty has been breached. It is even less
likely that a breach will be found if the auditor has complied with industry practice. Thirdly, the
claimant must establish a dominant causal link between the breach and the loss. The likelihood,
therefore, of a third party claimant succeeding in their action is actually quite

Medicare Reimbursement Model Pros And Cons
In my role with Liberty Mutual, I drove adoption of Medicare reimbursement models through public
affairs involvement with multiple state workers' compensation committees seeking to update their
reimbursement schedules in response to the implementation of ICD–10 coding requirements in
October of 2015. With the state workers' compensation authorities seeking to adopt CMS
reimbursement type models, my involvement was directed at securing the inclusion of specific CMS
rules governing correct coding and reimbursement practices including National Correct Coding
Initiative Guidelines (NCCI), Medical Unlikely Edits (MUE), along with the Resource Based
Relative Value System (RBRVS) for reimbursement rate setting.
In addition to advocating for ... Show more content on Helpwriting.net ...
Compliance auditing is used to evaluate compliance with binding standards (non–existent or
ambiguous) and the level of compliance with other industry standards, and Forensic auditing which
is performed to determine errors with established written standards imposed by the payer as either a
condition of participation or payment. In my current role, I have led several compliance based audits
proactively and in response to state inquiries and led a team of auditors who performed forensic
based audits on 48,000+ medical bills annually totaling $1billion in annual billed charges.
The identification of the appropriate binding and persuasive criteria (through criteria analysis) is
critical to establishing Risk and Standard analysis. Case law, State and Federal Courts, Commercial
carrier contracts (Provider/Subscriber) and incorporated standards (CPT/CMS), Federal Statutory,
Medicare Statutes, HHS regulations, CMS interpretive guidance (Internet Only Manuals), local
contractor rules (LCD's) are all types of controlling standards. Persuasive standards are used to
provide guidance in the absence of a binding statutory standard. In workers' compensation
jurisdictions with unclear or non–existent statutory standards, I developed the persuasive standards
of the Commercial Insurance Clinical audit product to ensure persuasive audit criteria was credible,
sourced, and applied appropriately with a robust quality

Clinical Audit Essay
Recommendations
Once all data collected, a clinical data report will be generated and presented to the quality
improvement committee in PED with appropriate recommendations on pain management
improvement within PED. The possible recommendations of my clinical audit will be as below:
Nurse–initiated pain medication
The outcome of the clinical audit will be implementing the new clinical guideline within the
department to administer nurse–initiated pain medication at triage in an appropriate and timely
manner, which will in turn; help the department reduce the length of stay and overcrowding.
By providing the patients with early administration of pain relief before being reviewed by a
physician will reduce their physiological and psychological ... Show more content on
Helpwriting.net ...
Improvement in nursing documentation of pain score is vital to ensure appropriate pain management
and accurate tracking of patients who declined pain medication. Patil et al., (2017) there is need of
huge improvement in documentation of pain score in ED to improve pain management service in
ED and improve quality indicators.
Nurses play a pivotal role in assessment, reassessment, and documentation of pain in ED. Pain
management in children within ED will be improved by training nurses on mandatory
documentation of pain and comprehensive assessment of pain and therefore, time to analgesia will
further decrease (Chafe et al., 2016).
CONCLUSION
In conclusion, pain is one of the most common reasons for patients to seek care in the ED and pain
management should have a primary focus as effective pain management is associated with patient
satisfaction, earlier mobilization, and reduced hospital stay. Despite previous research and studies,
there are still barriers to pain management at the ED which increase the risk of mismanagement for
the patients seeking care. As Nurses, we are well positioned to become active leaders and
innovatively responsive in reducing human suffering by improving pain management within

The Anonymous Caller: Recognizing It’s a Fraud and...
The Anonymous Caller: Recognizing It's a Fraud and Evaluating What to Do
The ethic case study was about an anonymous caller who is the controller of a privately–held, small,
start–up company. The company was experiencing a severe cash shortage and was required to
present the quarterly financial statements to the local bank, in order to begin receiving funds for the
line of credit again. She had concerns that the senior executives of the company provided the local
bank with misstated financial statements. The caller was later informed that the accounts payable
clerk was instructed to record sales transaction generated by the Chief Executive Officer (CEO) of
the company. As a result, the sales and receivables accounts were overstated in the ... Show more
For example, if the caller continues to work with the company and is senior executives knowing that
they have intentionally committed fraud this could degrade her integrity. Another example, if the
company is caught committing fraud her entire integrity reputation could be ruin. In addition, if the
company is caught committing fraud her entire company will undergo an investigation for alleged
fraud, leading to possible loss of employment. I say this because, when a company in under
investigation all employees are investigated thoroughly. If it reveals that the caller knew about the
company's fraud and didn't report to the proper authority; she could be held responsible for not
coming forward beforehand.
However, if the caller decides to resign from the company immediately there are also a few risks.
One risk of resigning immediately is that if she does so, she will not be able to collect proof
showing the senior executives illegally increased their sales and receivable accounts in the financial
statements by recording transactions that had not yet took place. These supporting documents can be
extremely important and helpful if the company tries to direct the blame towards the caller for the
improper accounting practices. Another risk of resigning immediately, is that she will be
unemployed temporarily, due to the fact that she more than likely do not have another job to replace
this one.
I do not believe the State Board of Accountancy

Memo On Program Evaluation Of Internal Auditing System
TO: Mark Nicol, Assistant Professor of Political Science, The Department of Political Science
FROM: Pratusha kudumula
DATE: feb3, 2016.
SUBJECT: Memo on program evaluation of internal auditing system in Pharmaceutical industry.
OBJECTIVES: The main objectives of this memo is to discuss the purpose, determine the
conformity or non–conformity of the quality system in meeting the specified requirements to clients,
and how the internal auditing system in Pharmaceutical industry works.
Conducting internal auditing of operations are key elements of a good quality system. Conducting
audits is a means of evaluating compliance with the objectives of the quality system.
Implementation of the quality management system model should result in ... Show more content on
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To initially evaluate the supplier where there is a desire to establish a contractual relationship.
To verify that an organization own quality system continues to meet specified requirements and is
being implemented.
Within a framework a contractual relationship to verify that the suppliers quality system continues
to meet specified requirements and is being implemented.
To evaluate an organization's own quality system against quality system standard.
Many regulations require audits (inspections) to be conducted by the quality assurance unit (QAU)
to ensure the integrity of non–clinical studies. Although these internal audits are required by various
regulations, they are intended to be used internally to improve operations, not by regulators to view
a company's dirty laundry.
Like most operations within pharmaceutical companies the first step in establishing an auditing
program, is to have a written procedure describing the program. The procedure should clearly define
the objective for doing audits. Some potential objectives might include:
Measure the effectiveness of the quality system

Clinical Standard Audit Essay
This report applies to a specific clinical standard audit which was conducted across two surgical
wards at St John of God Murdoch Hospital. The 10 clinical standards were derived from the health
commission of Australia which can be used by any health professionals and multidisciplinary team
within the clinical setting. The main ideas for this nationally recognised clinical framework is to
ensure patient safety and to improve the quality of individual health care. In spite of the ten
nationally accredited Clinical Standards this audits main focus is standard number 6 (Clinical
handover) from the NSQHS (National Safety and Quality Health Services). However, to achieve a
successful clinical handover clinical standard one and two must be incorporated ... Show more
Vital information about all areas of the patient care is processed through one care giver to another or
other health professional groups. It is stated by the AMA (Australia Medical Association) to achieve
a safe and accurate handover it must be lead by good communication and to be backed up by
appropriate patient documentation, correct doctor referral letters and completed discharge planning.
Therefore, handover contains large amounts of content and should be followed through a systematic
approach (Lim et al., 2016). Clinical handovers can be held in multiple locations of the health
precinct such as; patients bedside, common staff rooms and different wards upon transfers,
admissions or discharges. They can be given or received through different modes like face to face,
through the telephone or via written orders. According to the NSQHSS (National Safetly and
Quality Health Service Standards) clinical handover is classified as high risk toward to patients
safety. It is known that poor clinical handover skills can have vast effects on the patients health
outcomes and in some cases the cause of potential adverse events and cause patient

Beginning the Audit Report Essay
Kimberly Cummings
ACC/546
January 19, 2015
Jacob Mathews
MEMORANDUM
January 19, 2015
To: Senior Partner
From: Kim Cummings
Re: Apollo Shoes Audit
Dear Senior Partner: As you know, our firm has been selected to perform the Apollo Shoes audit.
The planning process has been the most delicate stage as we want to ensure we have a solid audit
approach. The team I select will be dedicated in meeting the objectives and strategies for completing
the audit. I will briefly explain to you how I plan to begin the audit process. Now that Apollo Shoes
has selected our firm, the initial planning process has begun. Our team must make every effort to
understand Apollo Shoes' business and ... Show more content on Helpwriting.net ...
The risk of audit error is the probability an auditor has reached an inaccurate conclusion, which is
why the auditor must review all workflows, policies and procedures prior to drawing any conclusion
from the samples they have pulled. A written auditor's opinion is a report published by the auditor to
ascertain company procedures used, the audit scope, and the results from testing. Many interested
parties, such as business owners and investors, review this report. The auditors are responsible in
finding errors, cut costs, and improve the overall general accounting used by a company. The
auditor is to verify company records against the information the company has provided. It is
important for auditors to plan and execute the audit to achieve reasonable assurance. The main
strategy of completing the audit is to obtain an understanding of the client's financial statements,
operating processes, and governance policies. The auditor must adopt a blueprint to determine the
external factors that could adversely affect the company's operations. The auditor needs to evaluate
regulatory practice and ongoing litigation events. With these strategies in place, the audit should be
easily streamlined to stay on track and completed in the designated timeframe.
Analytical Procedures Used to Plan, Conduct and Complete the Audit Analytical procedures are
used to identify items associated with

Clinical Audits in Nursing
Introduction
As the recommendation has been established as best practice this chapter will propose a clinical
audit to review the extent to which the recommendation is applied in practice. Practitioners have a
responsibility to continually improve their standards of care (Nursing and Midwifery Council,
2010). Clinical audits are a valuable tool for professionals to monitor their current practice and
promote improvements in care (Benjamin, 2008).
What is a clinical audit?
A clinical audit is a quality improvement process which aims to improve care through a systematic
review of practice against evidenced based criteria, followed by the implementation of change
(Healthcare Quality Improvement Partnership, 2011). There are many different audit cycles to
choose from which could be confusing for practitioners (Dixon & Pearce, 2011). The audit cycle
pictured below (figure1) was selected as a bases for this project because it is simple to use and
emphasises the importance of maintaining improvements.
Figure 1
(Benjamin, 2008)
Why do a clinical audit?
The purpose of a clinical audit is to improve the quality of care in the NHS (Healthcare Quality
Improvement Partnership, 2011). To assist practitioners in changing practice to match the rapidly
evolving evidence base guidelines are issued by organisations such as NICE (Fineout–Overholt &
Melnyk, 2011). However there is often a gap between recommended practice and current practice
which leads to lower quality care (Courtney &

Auditing and Financial Report
Solutions Manual
to accompany
Auditing: a practical approach
by
Jane Hamilton
CHAPTER 1
Introduction and overview of auditing
[pic]
John Wiley & Sons Australia, Ltd 2010
Chapter 1 – Introduction and overview of auditing
1. What does 'assurance' mean in the financial reporting context? Who are the three parties relevant
to an assurance engagement?
An assurance engagement (or service) is defined as 'an engagement in which an assurance
practitioner expresses a conclusion designed to enhance the degree of confidence of the intended
users other than the responsible party about the outcome of the evaluation or measurement of a
subject matter against criteria' (Framework for ... Show more content on Helpwriting.net ...
Finally, the auditors will benefit from additional revenue which can be used to subsidise the audit
firm's investments in knowledge and systems, and streamline the audit.
The main disadvantages of audit firms providing services to their audit clients relate to potential
adverse effects on the auditor's independence. The auditor could be unwilling to provide services
which would reduce their audit fees or cause the client to seek another auditor. The auditor could be
unwilling to criticise something to the client which was provided by their consulting division. The
auditor could be 'blind' to potential adverse impacts on the client's accounting systems from
products and services provided by their consulting division. Even if the consulting provided

unquestionable benefits to the client, the relationship between the audit firm and the client could
become 'too cosy', and discourage the client from considering other auditors. Finally, the auditor
could be reluctant to qualify the audit report for fear of losing lucrative fees from consulting
services. If this occurs, the audit is less valuable because the auditor is less independent.
4. An assurance engagement involves evaluation or measurement of subject matter against criteria.
What criteria are used in a financial report audit?
An auditor evaluates the contents of a financial report against the standards and laws that apply to

Anne Aylor Case
Accounting 732
Audit II
9/25/2012
Anne Aylor Inc.
A. Why are different materiality bases considered when determining planning materiality?
Different materiality bases are considered when determining planning materiality because the
magnitude and nature of financial statement misstatements or omissions have different influences on
different financial statement users. For example, investors are more interested in the accuracy of
numbers involving net income because they are mainly concerned with the company's ability to
increase shareholder wealth. For an audit company, the primary concern when planning materiality
is to take into account all expected financial statement users. These different expected users all have
different ... Show more content on Helpwriting.net ...
The risk of management fraud needs to be considered when determining tolerable misstatement
because the risk of fraud directly affects the risk of misstatement. Smith & Jones has a
percentage that tolerable misstatement thresholds should not exceed, which is adjusted tolerable
misstatement guidelines, with low risk of management fraud misstatements should balance each
other out. However, when high risk of management fraud is likely misstatements will likely skew
the company's numbers to overstate the company's income (ex. overstating income and understating
expenses). If numbers are fraudulently misstated with the goal of increasing income, the chance of
highly material misstatements drastically increases.
E. Why does the auditor not use the same tolerable misstatement or percentage of account balance
for all financial statement accounts?
If an auditor were to have the same tolerable misstatement for each account the cost of the audit
would be extremely high due to the large amount of testing that would need to be conducted.
Certain accounts will be given a high threshold, therefore requiring less evidence gathering.
Accounts that need more evidence require a lower tolerable misstatement. By setting low and high
tolerable misstatements the auditor will save money and time. For example, Smith & Jones
when testing the total asset account for tolerable

Essay Ethics Case
In this mini case Mike Stephan is dealing with a very difficult situation because he is new to the
accounting firm and wants to impress the superior accountants on his engagement team. While
auditing for EarthWear, he makes a little mistake by spending too many hours looking at the wrong
bank statements when he is not supposed to go over a total of 6 hours. Pressured by the senior on
the audit, he is caught between lying about his hours or telling the truth and going over budget on
the audit, potentially causing the other accountants on the team to look bad professionally. The first
alternative that I have learned about when addressing ethical issues as a staff auditor would be to
talk to the senior on the team and tell him/her exactly ... Show more content on Helpwriting.net ...
This could lead to even more confusion for Mike if everyone on his engagement team is telling him
to do something he believes is wrong. A downside to listening to the senior and lying about the
hours would be that Mike acted unethically and went against the accounting code of ethics as well
as his own. Lastly, a downside to telling the truth about the hours would be that Mike and the other
accountants all receive a bad performance evaluation and the firm looks inefficient to the client.
Also, the extra time spent working on the audit might make the accountants look less competent at
doing their job.
The implications of "eating time" allows the firm to charge an audit at a certain amount of hours that
looks good to the client, when in reality the accountants spent additional hours because the budget
was not enough to truly complete the audit. For the firm this concept prevents an over–budget audit
and the auditors are perceived at being great at their job (since time is money), which the accounting
world prides itself on. Mike learned about ethics and how these situations might occur in real life.
He knows that "eating time" is unethical and this one request by the senior could lead to a path of
more unethical decisions being made down the road.
If Mike decides not to listen to Alex and records the accurate time spent on the cash audit, then he is
saving himself and the firm from

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