Audit is an important control function that serves multiple purposes. [1] Audits independently examine financial records and operations to identify errors, fraud, and weaknesses. [2] They provide transparency to owners, lenders, government, and other stakeholders about an organization's true financial health and performance. [3] Audits help improve accuracy, compliance, efficiency and provide assurances to support decision making.
This presentation covers the basic concepts of auditing.
Dr. Soheli Ghose ( Ph.D (University of Calcutta), M.Phil, M.Com, M.B.A., NET (JRF), B. Ed).
Assistant Professor, Department of Commerce,St. Xavier's College, Kolkata.
Guest Faculty, M.B.A. Finance, University of Calcutta, Kolkata
This is a theoretical presentation describes the history of audit and assurance, definition, process of auditing, objectives, responsibilities, expectation gap, audit evidence and how to report the audit paper. This is mainly the vast knowledge about how an auditor performs audit and how the reporting of audit is done.
This presentation covers the basic concepts of auditing.
Dr. Soheli Ghose ( Ph.D (University of Calcutta), M.Phil, M.Com, M.B.A., NET (JRF), B. Ed).
Assistant Professor, Department of Commerce,St. Xavier's College, Kolkata.
Guest Faculty, M.B.A. Finance, University of Calcutta, Kolkata
This is a theoretical presentation describes the history of audit and assurance, definition, process of auditing, objectives, responsibilities, expectation gap, audit evidence and how to report the audit paper. This is mainly the vast knowledge about how an auditor performs audit and how the reporting of audit is done.
Description of the Virtual Observatory architecture, and IVOA documents that make it explicit. Part of the virtual observatory course by Juan de Dios Santander Vela, as imparted for the MTAF (Métodos y Técnicas Avanzadas en Física, Advanced Methods and Techniques in Physics) Master at the University of Granada (UGR).
The selection of guide stars for giant telescopes using Virtual Observatory t...Hector Quintero Casanova
Presentation for the preliminary report on how to go about searching suitable guide stars for giant telescopes such as the E-ELT (at the time the E-ELT project still had not been given the go-ahead) using the star catalogues available on the Virtual Observatory.
Los IPython Notebooks nos han proporcionado una sustancial mejora en la documentación del scripts, así como su inspección y una mayor re-utilización. Los IPython Notebooks también permiten acceder a distintos lenguajes de programación (Fortran, IDL, R, Shell,..) en un mismo script, lo que unido a su modo de acceso Web les hace ser un elemento ideal para el trabajo colaborativo (multi-lenguaje, multi-usuario, multi-plataforma, etc..) Os contaré qué tipo de cosas pueden hacerse con IPython Notebooks, desde desarrollo colaborativo de código multi-lenguaje, pasando por la reutilización de tutoriales, visualización interactiva de resultados, hasta la distribución de código más modular, y la publicación final de un experimento digital verificable y reproducible: el preámbulo de los papers ejecutables.
IT CONTAINS BASICS OF AUDIT AND AUDITOR
MEANING OF AUDIT, DEFINITION, ORIGIN AND DEVELOPMENT, TYPES OF AUDIT, DIFFERENCE BETWEEN ACCOUNT AND AUDIT, AUDITOR
IT WILL HELP THE STUDENTS TO UNDERSTAND THE BASIC OF AUDIT.
An exercise whose objective is to enable auditors to express an opinion on whether the financial statements give a true and fair view (or equivalent) of the entity’s affairs at the period end and of its profit or loss (or income and expenditure) for the period then ended and have been properly prepared in
accordance with the applicable reporting framework (e.g. relevant legislation and applicable accounting standards) or where statutory or other specific requirements prescribe the term, whether the financial statements “present fairly”.
Auditing is the process of verifying the validity of a company's various financial statements. Many renowned experts have defined auditing from their own perspectives. Below are the thoughts of some of the authors who commented on their respective opinions.
BCom Auditing and Corporate Governance Notes-1.pdfMystatus4
In this Slides we have Provided BCom Auditing and Corporate Governance most important Questions and Answers with some important Points and notes which helps you to score good marks.
If you want more information regarding this topic then please visit our sites https://www.thetreasurenotes.in and https://www.proedunotes.in
Financial Statements Audit by professionals in MelbourneMizael Partners
An audit process examines all the financial statements and records to generate an Audit report. Protecting your business from all tax and audit hassles.
Concept of Auditing B.Com(Hons)/B.Com .pdfUmakantAnnand
Concept of Auditing
The term audit is derived from a Latin word “audire” which means to hear authenticity of accounts is assured with the help of the independent review. Audit is performed to ascertain the validity and reliability of information. Examination of books and accounts with supporting vouchers and documents to detect and prevent error, fraud is the primary function of auditing. Auditor has to check the effectiveness of internal control systems for determining the extent of checking out the audit.Initially its meaning and use were confined merely to cash audit, and the auditor has to ascertain whether the persons are responsible for the maintenance of accounts had adequately accounted for all the cash receipts and the payment on behalf of this principle.
But the word audit has an extensive usage, and it now means a thorough scrutiny of the books of accounts and its ultimate aim is to verify the financial position disclosed by the balance sheet and profit and loss accounts of a company. In short, an audit implies an investigation and a report. The process of checking and vouching continues until the study is completed and the auditor enables himself to report under the terms of his appointment
Definition of Auditing
“An audit is an examination of accounting records undertaken with a view of establishing whether they correctly and completely reflect the transactions to which the purport to relate.” –Lawrence R. Dickey
“Audit is defined as an investigation of some statements of figures involving examination of certain evidence, so as to enable an auditor to make a report on the statement.” –Taylor and Perry
Classification of Auditors
Auditors of financial statements & non-financial information (including compliance audit) can be classified into three categories:
1) External auditor/Statutory auditor is an independent firm engaged by the client subject to the audit to express an opinion on whether the company's financial statements are free of material misstatements, whether due to fraud or error. For publicly traded companies, external auditors may also be required to express an opinion on the effectiveness of internal controls over financial reporting. External auditors may also be engaged to perform other agreed-upon procedures, related or unrelated to financial statements. Most importantly, external auditors, though engaged and paid by the company being audited, should be regarded as independent and remain third party.
2) Cost auditor/Statutory cost auditor is an independent firm engaged by the client subject to the cost audit to express an opinion on whether the company's cost statements and cost sheet are free of material misstatements, whether due to fraud or error. For publicly traded companies, external auditors may also be required to express an opinion on the effectiveness of internal controls over cost reporting.
What is the procedure for financial statement audit.pdfRathnakarReddy17
The purpose of a financial statement audit is to add credibility to the reported financial condition and business performance. Annual reports must be submitted by all publicly traded corporations and are subject to SEC audits.Similarly, lenders typically require audits of the financial statements of the companies they finance. Suppliers may also require audited Financial Statement Preparation in New York before granting trade credit (usually only if the amount of credit requested is substantial).
The world of search engine optimization (SEO) is buzzing with discussions after Google confirmed that around 2,500 leaked internal documents related to its Search feature are indeed authentic. The revelation has sparked significant concerns within the SEO community. The leaked documents were initially reported by SEO experts Rand Fishkin and Mike King, igniting widespread analysis and discourse. For More Info:- https://news.arihantwebtech.com/search-disrupted-googles-leaked-documents-rock-the-seo-world/
As a business owner in Delaware, staying on top of your tax obligations is paramount, especially with the annual deadline for Delaware Franchise Tax looming on March 1. One such obligation is the annual Delaware Franchise Tax, which serves as a crucial requirement for maintaining your company’s legal standing within the state. While the prospect of handling tax matters may seem daunting, rest assured that the process can be straightforward with the right guidance. In this comprehensive guide, we’ll walk you through the steps of filing your Delaware Franchise Tax and provide insights to help you navigate the process effectively.
Premium MEAN Stack Development Solutions for Modern BusinessesSynapseIndia
Stay ahead of the curve with our premium MEAN Stack Development Solutions. Our expert developers utilize MongoDB, Express.js, AngularJS, and Node.js to create modern and responsive web applications. Trust us for cutting-edge solutions that drive your business growth and success.
Know more: https://www.synapseindia.com/technology/mean-stack-development-company.html
Memorandum Of Association Constitution of Company.pptseri bangash
www.seribangash.com
A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
https://seribangash.com/article-of-association-is-legal-doc-of-company/
Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
www.seribangash.com
Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
https://seribangash.com/promotors-is-person-conceived-formation-company/
Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
Buy Verified PayPal Account | Buy Google 5 Star Reviewsusawebmarket
Buy Verified PayPal Account
Looking to buy verified PayPal accounts? Discover 7 expert tips for safely purchasing a verified PayPal account in 2024. Ensure security and reliability for your transactions.
PayPal Services Features-
🟢 Email Access
🟢 Bank Added
🟢 Card Verified
🟢 Full SSN Provided
🟢 Phone Number Access
🟢 Driving License Copy
🟢 Fasted Delivery
Client Satisfaction is Our First priority. Our services is very appropriate to buy. We assume that the first-rate way to purchase our offerings is to order on the website. If you have any worry in our cooperation usually You can order us on Skype or Telegram.
24/7 Hours Reply/Please Contact
usawebmarketEmail: support@usawebmarket.com
Skype: usawebmarket
Telegram: @usawebmarket
WhatsApp: +1(218) 203-5951
USA WEB MARKET is the Best Verified PayPal, Payoneer, Cash App, Skrill, Neteller, Stripe Account and SEO, SMM Service provider.100%Satisfection granted.100% replacement Granted.
"𝑩𝑬𝑮𝑼𝑵 𝑾𝑰𝑻𝑯 𝑻𝑱 𝑰𝑺 𝑯𝑨𝑳𝑭 𝑫𝑶𝑵𝑬"
𝐓𝐉 𝐂𝐨𝐦𝐬 (𝐓𝐉 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬) is a professional event agency that includes experts in the event-organizing market in Vietnam, Korea, and ASEAN countries. We provide unlimited types of events from Music concerts, Fan meetings, and Culture festivals to Corporate events, Internal company events, Golf tournaments, MICE events, and Exhibitions.
𝐓𝐉 𝐂𝐨𝐦𝐬 provides unlimited package services including such as Event organizing, Event planning, Event production, Manpower, PR marketing, Design 2D/3D, VIP protocols, Interpreter agency, etc.
Sports events - Golf competitions/billiards competitions/company sports events: dynamic and challenging
⭐ 𝐅𝐞𝐚𝐭𝐮𝐫𝐞𝐝 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐬:
➢ 2024 BAEKHYUN [Lonsdaleite] IN HO CHI MINH
➢ SUPER JUNIOR-L.S.S. THE SHOW : Th3ee Guys in HO CHI MINH
➢FreenBecky 1st Fan Meeting in Vietnam
➢CHILDREN ART EXHIBITION 2024: BEYOND BARRIERS
➢ WOW K-Music Festival 2023
➢ Winner [CROSS] Tour in HCM
➢ Super Show 9 in HCM with Super Junior
➢ HCMC - Gyeongsangbuk-do Culture and Tourism Festival
➢ Korean Vietnam Partnership - Fair with LG
➢ Korean President visits Samsung Electronics R&D Center
➢ Vietnam Food Expo with Lotte Wellfood
"𝐄𝐯𝐞𝐫𝐲 𝐞𝐯𝐞𝐧𝐭 𝐢𝐬 𝐚 𝐬𝐭𝐨𝐫𝐲, 𝐚 𝐬𝐩𝐞𝐜𝐢𝐚𝐥 𝐣𝐨𝐮𝐫𝐧𝐞𝐲. 𝐖𝐞 𝐚𝐥𝐰𝐚𝐲𝐬 𝐛𝐞𝐥𝐢𝐞𝐯𝐞 𝐭𝐡𝐚𝐭 𝐬𝐡𝐨𝐫𝐭𝐥𝐲 𝐲𝐨𝐮 𝐰𝐢𝐥𝐥 𝐛𝐞 𝐚 𝐩𝐚𝐫𝐭 𝐨𝐟 𝐨𝐮𝐫 𝐬𝐭𝐨𝐫𝐢𝐞𝐬."
What are the main advantages of using HR recruiter services.pdfHumanResourceDimensi1
HR recruiter services offer top talents to companies according to their specific needs. They handle all recruitment tasks from job posting to onboarding and help companies concentrate on their business growth. With their expertise and years of experience, they streamline the hiring process and save time and resources for the company.
3. Introduction
The general meaning of an audit is an
evaluation of a
person, organization, system, process, en
terprise, project or product.
Audit means an unbiased examination
and evaluation of the financial
statements of an organization. It can be
done internally (by employees of the
organization) or externally (by an
outside firm).
4. Definitions.
Spicier and Pegler-
An audit is such an
examination of the books, accounts and
vouchers of a business as it enable the
auditor to satisfy that the Balance
Sheets is properly drawn up, so as to
give a true and fair view of the state of
the affairs of the business and whether
the profit and loss accounts gives a true
and fair view of the profit or loss for the
financial period according to the best of
his information and explanations given
to him and as shown by the books, and
if not, in what respects he is not
satisfied.
5. Definitions
Montgomery -
Auditing is a systematic
examination of the books and records of
a business or other organization, in order
to ascertain or verify and report upon the
facts regarding its financial operation
and the result thereof.
6. Main Objectives.
To independently identify information
which is essential to develop an overall
picture of the institution/local
authority.
To identify any weaknesses or
administrative flows which otherwise
would not be identified due to
unwillingness or inability by insiders
of the institutions.
.
7. Main Objectives
To identify strengths and weaknesses of
the administrative structures in order to
inform decisions on overall
strengthening of the institution.
To provide baselines on which reforms
can be assessed
To provide the government (other
governing bodies) and general public
with credible information that result in
public faith or trust of the institution
and/or pressure for any reforms to
address problems identified.
9. Types.
There are main two type of audit.
1.internal audit.
2.statutory audit.
Other types of audit are;-
1.continuous audit.
2.annual audit.
3.balance sheet audit.
4.interim audit.
10. Importance.
For Business
1. Errors are Located-
Auditing is helpful
for business. The error can be located
through it. The location and correction of
error is possible through auditing. The
true and fair information about business
is available.
11. Importance.
2. Frauds are Discovered-
Auditing is helpful for
business. The discovery of fraud is possible
through it. The guilty persons can be held
responsible. The auditing accounts show fair
about business.
3. Loans Become Easy
Auditing is useful for
business. Lenders for granting loans accept
the auditor's accounts. The reputation of
borrowers increases due to auditing. Thus
auditing accounts help the businessman to
expand his activities.
12. Importance.
4. Advise about Weakness
The people can
seek advise from auditors. The auditors are
professional and they know their work
very well. They can spotlight the grey area.
It is the duty of the business man to act
upon the advise of the auditors.
5. High Moral Values
Auditing is essential for business. There is
moral check on the management and
13. Importance.
other staff. Auditing puts the pressure on the
staff of work honestly. There is no pending
work so there is less chance of errors and
frauds. .
6. Tax Payments-
Auditing is useful for
business, tax authority accept audited
accounts for assessment of taxes. There is no
further inquiry or investigation from
department..
14. Importance.
For Owners
7. Efficiency Improves
Auditing is beneficial for business. The
auditing determines the efficiency of
employees. The training and qualifies
management is an asset for any business.
Such management can play dynamic role
in framing and implementing the
policies.
15. Importance
8. Dispute is Settled -
The audited
accounts are helpful to settle the
disputes. The audited accounts become
the basis of making decisions. The
dispute may relate to infringement of
patents or trademarks.
9. Improvement of Internal Control
Auditing
is helpful for business. The auditor can
point out the
16. Importance
weakness of internal control system. The
business management can take steps to
remove these weaknesses. The effective
control systems are essential for large-scale
business enterprises.
10. Fluctuation in Profits
The auditor can
make the detailed study to find of fluctuation
in profits. There are various reasons for
changes in profits. The auditor can
determine the true cause of such changes.
17. Importance
11. High Credit Rating
The auditing
accounts increase the credit standing of any
business house. The lenders can rely on
audited accounts for granting credit facility.
In fact auditing is a screening test of
business entity.
12. Shareholders Protection
Auditing is
beneficial for owners. The shareholders feel
that their rights are
18. Importance
protected through auditing. They can know
the performance of management. Audited
accounts help to determine the value of
shares.
13. Insolvency
The auditing is beneficial for
creditors. The audited accounts show true
and fair view of state of affairs of sole
proprietorship or partnership. The creditor
can get their money first and then owners
can get refund of capital. The audited
accounts help to settle the cases at an early
date.
19. Importance
For Government
14. Better Performance of Tax Department
Auditing is beneficial for
government. Tax officers accept the
audited accounts. The assessment order
can be issued without further clarification.
There is saving of money and time due to
audited accounts. The performance of tax
officers is improved.
15.Progress of Economy
Auditing is essential
for government policies. The true fair
view is stated in audited accounts.
20. Importance
The stage of economic progress can be
determined. The government can take
measures to raise the rate of economic
growth.
16.Purchase of Private Business
Auditing is helpful for government.
The private business houses may not work in
favor of general public. The government can
take over such business units. The purchase
price is decided on the basis of auditing of
accounts.
21. Importance
17.Inspectors-
The auditing is helpful for
government. The auditing accounts show
the fair value of all assets. The value of
assets. The value of assets is the basis of
tax. This issue can be settle through
audited accounts. The auditors are
experts in their field. They know all
methods of property valuation. They can
issue certified the government agencies
for valuation of property .
22. Importance
For General Public
18.Insurers can Settle Claims
Auditing is
essential for insurers. The settlement of
fire or marine insurance claims is easy
through audited accounts. The policy
holders and insurance company can
settle actual loss of property .
23. Importance
19.No Loss to Lenders
Auditing is essential for
lenders. The banks and other lenders ask
the borrowers to submit audited accounts
before granting loans. The audited
accounts are helpful to check the trust
worthiness of customers.
20.Creditor are Protected
They can know the true
performance of their debtors. The creditor
can accept this promise only
24. Importance
when he feels that debtor is reliable
businessman. Auditor accounts provide
basic information about reliability.
21.Better Pay to Employees
Auditing is
helpful for employees. They are interests
in profits. Auditing accounting prove
true and fair view of profit.
25. Importance
The employees can demand higher pay,
fringe benefits and participating in
profits. Audit of accounts with the
independent person help the employees
to make settlement with the employers.