Financial management unit 3 Financing and Dividend DecisionGanesha Pandian
This document provides an overview of financial management topics including leverages, capital structure, and dividend decisions. It begins with definitions and types of operating and financial leverages, and how to calculate their degrees. It then discusses capital structure theories including the Net Income, Net Operating Income, and Modigliani-Miller approaches. Finally, it covers factors influencing dividend policy decisions and different types of dividend policies and payouts. In summary, the document is a lecture on financing and dividend decisions, analyzing leverage, capital structure optimization, and dividend policies.
The document provides an overview of financial management concepts including the meaning, nature, scope and objectives of financial management. It discusses the organizational structure of a finance department and key responsibilities of a financial manager such as capital budgeting, investment decisions, and cash management. The document also covers understanding capital markets, related disciplines like finance and accounting, components and major differences between the old and new formats of a balance sheet as per Indian accounting standards. In summary, the document serves as an introductory guide to basic concepts in the field of financial management.
An audit programme outlines the guidelines and specifics for conducting an audit, including the audit objectives, location, timing, and procedures. It is developed after understanding the client's business by determining audit strategies and preparing a checklist. The advantages of an audit programme are that it provides instructions, divides work responsibilities, and facilitates supervision, future planning, and efficient audits. However, audit programmes can also lead to rigid and mechanical work, as well as a lack of flexibility and initiative.
This document provides an overview of external confirmations as an audit procedure. It defines external confirmation as obtaining evidence directly from a third party in written form. External confirmations are commonly used to verify information with debtors, creditors, banks, lawyers, and those holding company assets/investments. The document outlines factors to consider when using confirmations, such as timing, sample selection, request design. It distinguishes between positive and negative confirmation requests and the risks of each. It also describes audit procedures to follow up on responses, such as investigating exceptions or non-responses to positive confirmations.
The document discusses the key components and requirements of an auditor's report. It explains that the auditor is responsible for expressing an opinion on whether a company's financial statements give a true and fair view. The auditor's report must include sections addressing management's responsibility, the auditor's responsibility, the auditor's opinion, and the date and auditor's signature. It describes the different types of opinions that may be expressed - unmodified, qualified, adverse, and disclaimer. It also discusses when an emphasis of matter or other matter paragraph would be added to the report.
This document provides information about cash budgeting including what a cash budget is used for, items included in cash inflows and outflows, and how adjustments can be made. A cash budget monitors the timing of cash in and out, ensures enough cash is available, and identifies if and when an overdraft is required. Cash inflows include sales, loans, and asset sales, while outflows include expenses, principal payments, asset purchases, and ending cash. Cash budgets can be prepared annually, quarterly, bi-monthly, or monthly and estimate cash flows over the periods.
Financial management unit 3 Financing and Dividend DecisionGanesha Pandian
This document provides an overview of financial management topics including leverages, capital structure, and dividend decisions. It begins with definitions and types of operating and financial leverages, and how to calculate their degrees. It then discusses capital structure theories including the Net Income, Net Operating Income, and Modigliani-Miller approaches. Finally, it covers factors influencing dividend policy decisions and different types of dividend policies and payouts. In summary, the document is a lecture on financing and dividend decisions, analyzing leverage, capital structure optimization, and dividend policies.
The document provides an overview of financial management concepts including the meaning, nature, scope and objectives of financial management. It discusses the organizational structure of a finance department and key responsibilities of a financial manager such as capital budgeting, investment decisions, and cash management. The document also covers understanding capital markets, related disciplines like finance and accounting, components and major differences between the old and new formats of a balance sheet as per Indian accounting standards. In summary, the document serves as an introductory guide to basic concepts in the field of financial management.
An audit programme outlines the guidelines and specifics for conducting an audit, including the audit objectives, location, timing, and procedures. It is developed after understanding the client's business by determining audit strategies and preparing a checklist. The advantages of an audit programme are that it provides instructions, divides work responsibilities, and facilitates supervision, future planning, and efficient audits. However, audit programmes can also lead to rigid and mechanical work, as well as a lack of flexibility and initiative.
This document provides an overview of external confirmations as an audit procedure. It defines external confirmation as obtaining evidence directly from a third party in written form. External confirmations are commonly used to verify information with debtors, creditors, banks, lawyers, and those holding company assets/investments. The document outlines factors to consider when using confirmations, such as timing, sample selection, request design. It distinguishes between positive and negative confirmation requests and the risks of each. It also describes audit procedures to follow up on responses, such as investigating exceptions or non-responses to positive confirmations.
The document discusses the key components and requirements of an auditor's report. It explains that the auditor is responsible for expressing an opinion on whether a company's financial statements give a true and fair view. The auditor's report must include sections addressing management's responsibility, the auditor's responsibility, the auditor's opinion, and the date and auditor's signature. It describes the different types of opinions that may be expressed - unmodified, qualified, adverse, and disclaimer. It also discusses when an emphasis of matter or other matter paragraph would be added to the report.
This document provides information about cash budgeting including what a cash budget is used for, items included in cash inflows and outflows, and how adjustments can be made. A cash budget monitors the timing of cash in and out, ensures enough cash is available, and identifies if and when an overdraft is required. Cash inflows include sales, loans, and asset sales, while outflows include expenses, principal payments, asset purchases, and ending cash. Cash budgets can be prepared annually, quarterly, bi-monthly, or monthly and estimate cash flows over the periods.
This document discusses unit or output costing. Unit or output costing is used when standard, identical products are mass produced through a common process. It is also known as single costing. The key characteristics are uniform, homogeneous production of identical products where the cost unit is a physical measure like per ton or meter. The objectives include determining total, unit, and element costs to compare costs over time, set prices, and tender prices. Cost elements include materials, labor, direct expenses, and overheads. Common methods to determine unit costs are cost sheets, statements of cost, and production accounts.
Financial management involves planning, organizing, directing, and controlling a company's financial resources. Capital investment refers to acquiring long-term assets like plants and machinery. Capital budgeting determines the viability of long-term investments and uses techniques like net present value, internal rate of return, and payback period to evaluate projects. It considers the time value of money, risk, and rates of return to make optimal investment decisions.
INTERNATIONAL STANDARD ON AUDITING 200 (REVISED)
OVERALL OBJECTIVES OF THE INDEPENDENT AUDITOR AND THE
CONDUCT OF AN AUDIT IN ACCORDANCE WITH INTERNATIONAL
STANDARDS ON AUDITING
The document discusses audit planning, which involves establishing the overall audit strategy and developing a detailed audit plan. The audit strategy addresses the scope of the audit, resources and timing, while the plan provides instructions on risk assessment procedures, further audit procedures, and other actions to comply with auditing standards. Both the strategy and plan are updated as needed in response to new information obtained during planning or the audit. Documentation of key decisions is important.
INTERNATIONAL AUDITING STANDARDS -PPT.pptxHeldaMaryA
This document provides information about international auditing standards and the audit process. It discusses the historical background of auditing dating back to ancient civilizations. It also outlines the development of modern auditing with the emergence of large corporations during the Industrial Revolution. The document then explains the role of the International Auditing and Assurance Standards Board (IAASB) in establishing International Standards on Auditing (ISAs) and other standards. Finally, it describes the typical four phases of an audit process: client acceptance, planning, testing and evidence, and evaluation and reporting.
Financial management refers to the efficient and effective management of money to achieve business objectives. It involves making decisions about raising capital, allocating funds, budgeting, and managing current assets. Financial management is important for establishing and operating a business successfully as it provides the necessary financing. The objectives of financial management are to maximize the firm's value, earnings, profitability, and cash flows. Key financial decisions include investment decisions, financing decisions, and dividend decisions.
The document summarizes the key aspects of project appraisal, which involves examining various dimensions of a proposed project, including technical, financial, social and environmental factors, to assess its likelihood of success and viability. It evaluates a project's ability to meet objectives and provide long-term economic growth. Key aspects of project appraisal include market appraisal, technical appraisal, economic appraisal, environmental appraisal, and financial appraisal. Project appraisal helps decision makers determine whether to accept or reject a proposed project by analyzing factors such as demand, costs, profits, impacts and risks.
This document discusses understanding audits, reviews, and continuous improvement. It defines an audit as an independent examination of records and activities to assess controls and ensure compliance. The purpose is to evaluate operations, compliance, economy, and effectiveness in achieving goals. Effective audits involve early involvement, informal assessments, knowledge sharing, and self-assessments. Audits can be internal or external. Internal audits independently appraise operations, while external audits are conducted by independent firms. Risk assessment, monitoring, and the Deming cycle of plan-do-check-act are important for continuous improvement.
The document discusses the purpose and functions of an internal audit department. It defines internal auditing as an independent process that evaluates risk management, controls, and governance to improve an organization's operations. An internal audit department is necessary to comply with regulations like SOX, ensure proper financial and risk controls, and review operations for effectiveness and compliance. The department performs several types of audits, including financial, operational, compliance, and special investigations audits. In conclusion, having an internal audit reduces risks for a company through systematic evaluation of controls, operations, and compliance.
The course aims to provide students with an in-depth understanding of financial accounting issues and emerging accounting topics to exercise appropriate judgment in selecting and presenting accounting information. Students will learn to understand accounting frameworks and ethical codes, describe accounting standard provisions and principles, account for assets and liabilities, recognize revenue, account for income taxes, and prepare financial statements in accordance with standards. They will also develop arguments for accounting problems.
The document provides an introduction to the finance function in business organizations. It discusses that finance is a crucial area as it provides the funds needed for all other business activities. It then defines the finance function as acquiring and utilizing funds for business according to two experts. The scope of finance includes financing, investment, and dividend policy decisions. Functions of the finance department include calculating funds requirements, finding sources of finance, and utilizing funds. Financial management aims to manage funds in a way that maximizes profits through optimal investment of capital.
Introduction To Financial Statements And AuditMobasher Ali
The document provides an introduction to financial statements and auditing. It discusses the purpose of financial statements which is to provide useful information to users for decision making. A complete set of financial statements includes a balance sheet, income statement, statement of changes in equity, cash flow statement, and notes. The document also outlines the regulatory requirements for auditing financial statements in Pakistan for various types of entities. The objective of an audit is to express an opinion on whether the financial statements present fairly in accordance with accounting standards.
Financial managers are responsible for the financial health of an organization. They prepare financial reports and statements, direct investment activities, develop long-term financial strategies and plans, monitor finances to ensure legal compliance, analyze market trends to find opportunities for expansion, and help management make important financial decisions. Common roles of financial managers include chief financial officer, treasurer, controller, credit manager, cash manager, and risk manager. Key responsibilities include estimating capital needs, determining the optimal capital structure, choosing sources of funding, procuring funds, utilizing funds prudently, managing cash flow, disposing of profits, and evaluating financial performance.
This document discusses various methods for calculating depreciation of assets. It begins by defining depreciation as the reduction in value of an asset over its useful life due to factors like normal wear and tear. The document then outlines several common methods for calculating depreciation, including the straight-line method, written down value (diminishing balance) method, annuity method, sinking fund method, and production unit method. For each method, it provides the depreciation calculation formula. The document concludes by listing some key features of depreciation calculations.
The internal audit department provides independent and objective assurance to help the company accomplish its objectives. It identifies risks, finds better processes, and partners with departments to solve issues. The department reports to the audit committee and develops a risk-based annual audit plan. It audits operations, departments, programs, and processes. The department also receives whistleblower reports and investigates fraud and misconduct.
This document discusses receivables management. It begins by defining receivables as sales made on credit that represent amounts owed to a firm from customers. Effective receivables management involves establishing credit policies, evaluating customer creditworthiness, and controlling receivables. The objectives are to maximize return on investment in receivables while allowing sufficient sales growth. Key aspects covered include granting credit, costs of receivables management, collection methods, and analysis of receivables aging and customer importance.
Audit planning involves determining the objectives, scope, and procedures for an audit. It is an ongoing and iterative process that begins with the previous audit and continues until the current audit is complete. Effective planning establishes the overall audit strategy, develops an audit plan, and involves tasks like identifying risks, resources needed, and data collection methods. Key considerations before an audit include clearly defined objectives and scope, an audit team, specific audit plan and timing, and preliminary analysis of requirements and processes.
This document provides an overview of audit planning based on chapters 8 and 9 of an auditing textbook. It discusses the key stages and activities of audit planning, including understanding the client's business and industry, assessing risks, determining materiality, understanding internal controls, planning audit procedures, and developing an audit program. The overall purpose of audit planning is to obtain sufficient evidence for the audit in an effective and efficient manner.
This document discusses unit or output costing. Unit or output costing is used when standard, identical products are mass produced through a common process. It is also known as single costing. The key characteristics are uniform, homogeneous production of identical products where the cost unit is a physical measure like per ton or meter. The objectives include determining total, unit, and element costs to compare costs over time, set prices, and tender prices. Cost elements include materials, labor, direct expenses, and overheads. Common methods to determine unit costs are cost sheets, statements of cost, and production accounts.
Financial management involves planning, organizing, directing, and controlling a company's financial resources. Capital investment refers to acquiring long-term assets like plants and machinery. Capital budgeting determines the viability of long-term investments and uses techniques like net present value, internal rate of return, and payback period to evaluate projects. It considers the time value of money, risk, and rates of return to make optimal investment decisions.
INTERNATIONAL STANDARD ON AUDITING 200 (REVISED)
OVERALL OBJECTIVES OF THE INDEPENDENT AUDITOR AND THE
CONDUCT OF AN AUDIT IN ACCORDANCE WITH INTERNATIONAL
STANDARDS ON AUDITING
The document discusses audit planning, which involves establishing the overall audit strategy and developing a detailed audit plan. The audit strategy addresses the scope of the audit, resources and timing, while the plan provides instructions on risk assessment procedures, further audit procedures, and other actions to comply with auditing standards. Both the strategy and plan are updated as needed in response to new information obtained during planning or the audit. Documentation of key decisions is important.
INTERNATIONAL AUDITING STANDARDS -PPT.pptxHeldaMaryA
This document provides information about international auditing standards and the audit process. It discusses the historical background of auditing dating back to ancient civilizations. It also outlines the development of modern auditing with the emergence of large corporations during the Industrial Revolution. The document then explains the role of the International Auditing and Assurance Standards Board (IAASB) in establishing International Standards on Auditing (ISAs) and other standards. Finally, it describes the typical four phases of an audit process: client acceptance, planning, testing and evidence, and evaluation and reporting.
Financial management refers to the efficient and effective management of money to achieve business objectives. It involves making decisions about raising capital, allocating funds, budgeting, and managing current assets. Financial management is important for establishing and operating a business successfully as it provides the necessary financing. The objectives of financial management are to maximize the firm's value, earnings, profitability, and cash flows. Key financial decisions include investment decisions, financing decisions, and dividend decisions.
The document summarizes the key aspects of project appraisal, which involves examining various dimensions of a proposed project, including technical, financial, social and environmental factors, to assess its likelihood of success and viability. It evaluates a project's ability to meet objectives and provide long-term economic growth. Key aspects of project appraisal include market appraisal, technical appraisal, economic appraisal, environmental appraisal, and financial appraisal. Project appraisal helps decision makers determine whether to accept or reject a proposed project by analyzing factors such as demand, costs, profits, impacts and risks.
This document discusses understanding audits, reviews, and continuous improvement. It defines an audit as an independent examination of records and activities to assess controls and ensure compliance. The purpose is to evaluate operations, compliance, economy, and effectiveness in achieving goals. Effective audits involve early involvement, informal assessments, knowledge sharing, and self-assessments. Audits can be internal or external. Internal audits independently appraise operations, while external audits are conducted by independent firms. Risk assessment, monitoring, and the Deming cycle of plan-do-check-act are important for continuous improvement.
The document discusses the purpose and functions of an internal audit department. It defines internal auditing as an independent process that evaluates risk management, controls, and governance to improve an organization's operations. An internal audit department is necessary to comply with regulations like SOX, ensure proper financial and risk controls, and review operations for effectiveness and compliance. The department performs several types of audits, including financial, operational, compliance, and special investigations audits. In conclusion, having an internal audit reduces risks for a company through systematic evaluation of controls, operations, and compliance.
The course aims to provide students with an in-depth understanding of financial accounting issues and emerging accounting topics to exercise appropriate judgment in selecting and presenting accounting information. Students will learn to understand accounting frameworks and ethical codes, describe accounting standard provisions and principles, account for assets and liabilities, recognize revenue, account for income taxes, and prepare financial statements in accordance with standards. They will also develop arguments for accounting problems.
The document provides an introduction to the finance function in business organizations. It discusses that finance is a crucial area as it provides the funds needed for all other business activities. It then defines the finance function as acquiring and utilizing funds for business according to two experts. The scope of finance includes financing, investment, and dividend policy decisions. Functions of the finance department include calculating funds requirements, finding sources of finance, and utilizing funds. Financial management aims to manage funds in a way that maximizes profits through optimal investment of capital.
Introduction To Financial Statements And AuditMobasher Ali
The document provides an introduction to financial statements and auditing. It discusses the purpose of financial statements which is to provide useful information to users for decision making. A complete set of financial statements includes a balance sheet, income statement, statement of changes in equity, cash flow statement, and notes. The document also outlines the regulatory requirements for auditing financial statements in Pakistan for various types of entities. The objective of an audit is to express an opinion on whether the financial statements present fairly in accordance with accounting standards.
Financial managers are responsible for the financial health of an organization. They prepare financial reports and statements, direct investment activities, develop long-term financial strategies and plans, monitor finances to ensure legal compliance, analyze market trends to find opportunities for expansion, and help management make important financial decisions. Common roles of financial managers include chief financial officer, treasurer, controller, credit manager, cash manager, and risk manager. Key responsibilities include estimating capital needs, determining the optimal capital structure, choosing sources of funding, procuring funds, utilizing funds prudently, managing cash flow, disposing of profits, and evaluating financial performance.
This document discusses various methods for calculating depreciation of assets. It begins by defining depreciation as the reduction in value of an asset over its useful life due to factors like normal wear and tear. The document then outlines several common methods for calculating depreciation, including the straight-line method, written down value (diminishing balance) method, annuity method, sinking fund method, and production unit method. For each method, it provides the depreciation calculation formula. The document concludes by listing some key features of depreciation calculations.
The internal audit department provides independent and objective assurance to help the company accomplish its objectives. It identifies risks, finds better processes, and partners with departments to solve issues. The department reports to the audit committee and develops a risk-based annual audit plan. It audits operations, departments, programs, and processes. The department also receives whistleblower reports and investigates fraud and misconduct.
This document discusses receivables management. It begins by defining receivables as sales made on credit that represent amounts owed to a firm from customers. Effective receivables management involves establishing credit policies, evaluating customer creditworthiness, and controlling receivables. The objectives are to maximize return on investment in receivables while allowing sufficient sales growth. Key aspects covered include granting credit, costs of receivables management, collection methods, and analysis of receivables aging and customer importance.
Audit planning involves determining the objectives, scope, and procedures for an audit. It is an ongoing and iterative process that begins with the previous audit and continues until the current audit is complete. Effective planning establishes the overall audit strategy, develops an audit plan, and involves tasks like identifying risks, resources needed, and data collection methods. Key considerations before an audit include clearly defined objectives and scope, an audit team, specific audit plan and timing, and preliminary analysis of requirements and processes.
This document provides an overview of audit planning based on chapters 8 and 9 of an auditing textbook. It discusses the key stages and activities of audit planning, including understanding the client's business and industry, assessing risks, determining materiality, understanding internal controls, planning audit procedures, and developing an audit program. The overall purpose of audit planning is to obtain sufficient evidence for the audit in an effective and efficient manner.
Practical approach to auditing is a presentation intended to help new auditors to quickly grab the skills and approach to audit engagements. The material touched on the attributes of auditors, audit planning, work programmes, audit journaling, working papers, audit test procedures, compliance and substantive test, elements of an audit report, file referencing etc..
- The document discusses standards for quality control (SQC-1), overall audit objectives (SA 200), agreeing audit terms of engagement (SA 210), quality control for audit (SA 220), audit documentation (SA 230), and responsibilities relating to fraud (SA 240).
- It outlines responsibilities for quality control policies and procedures at audit firms. The objectives of an audit are to obtain reasonable assurance that financial statements are free of material misstatement and to report findings. The auditor must agree the terms and scope of the audit engagement with the client.
- Quality control includes leadership, ethics, independence, client/engagement acceptance, assignment of qualified engagement teams, performance of the audit with proper supervision/review, and monitoring
This document discusses internal controls and the auditor's responsibilities for understanding and assessing internal controls. It covers: (1) the definition of internal control and its key components; (2) management's responsibility to establish controls and the auditor's responsibility to understand them; and (3) the process auditors follow to obtain an understanding of controls, assess control risk, and communicate internal control matters.
This document provides an overview of audit planning topics including:
- The importance of audit planning to obtain sufficient evidence and keep costs reasonable.
- Key planning activities like understanding the client's business, assessing risks, and developing responses.
- How inherent, control, and detection risks contribute to overall audit risk.
- The use of analytical procedures during planning, fieldwork, and completion to identify unusual fluctuations.
- The three phases of audit work: planning, interim, and final, and how they relate to risk assessment and evidence gathering.
The document outlines the audit process from start to finish. It begins with pre-engagement activities like client evaluation and drafting an engagement letter. Next is planning which involves identifying risks, linking them to accounts, and determining the audit strategy. Testing then occurs, including internal controls, accounts, and conclusions. The audit results in an opinion on whether the financial statements fairly represent the entity's position and an optional management letter with other observations. The document provides examples at each step to demonstrate the audit process.
This document discusses quality auditing. It defines auditing and quality auditing, outlines quality auditing standards and types of audits. It describes audit activities like planning, information gathering, communication, drafting the audit report, and getting management response. The document explains roles of client, auditor and auditee in audits and the audit process from notification to feedback. It provides guidance on managing an audit program according to ISO 19011.
This document discusses the different stages of an audit process and contents of audit working files. The key stages are client acceptance/retention, audit planning, test of controls, substantive procedures, and opinion formulation. Client acceptance involves evaluating independence and compliance with ethical standards. Audit planning establishes strategy and detailed plans. Tests of controls evaluate internal controls, while substantive procedures detect material misstatements. Upon completing these stages, an audit opinion is formulated. Audit completion procedures then ensure sufficient evidence was obtained. Audit working files contain planning, control, procedure, program, and permanent files documenting the audit work.
This document contains questions and answers about auditing processes and quality systems. It discusses the different types of audits, defines audit evidence and lists factors that affect audit evidence reliability. It explains the audit process steps and defines nonconformities, classifying them into critical, major and minor types with examples. It also lists the elements of a quality system, discussing management responsibilities. Other questions cover cGMP regulations regarding premises, personnel, equipment and raw materials, packaging and labeling controls. Quality system elements like manufacturing operations and evaluation activities are also explained.
The document discusses key aspects of statutory audits, including audit documentation, planning, fieldwork, completion, and reporting obligations. It covers topics such as the purpose of audit documentation, planning considerations, types of audit evidence, subsequent event procedures, and objectives of audit reporting. Key requirements around documentation standards, tailoring the audit, and ensuring work is reviewed are also summarized.
This document provides an internal audit manual for Montefalco Institute of Technology of San Francisco. It outlines the purpose, reporting structure, duties of the internal auditor, and an overview of the internal audit function. It describes the phases of an internal audit, including planning, organizing, preliminary work, conducting the audit, and reporting. It also covers topics like audit workpapers, audit communications, sampling, and investigating fraud. The manual is intended to summarize the operations of the internal audit function and provide policies and procedures to govern internal audits at the institution.
This document summarizes an opening meeting for an MSPO certification audit of Sinar Pelita Sdn Bhd. The audit will take place from April 22-24, 2024. The audit team consists of 4 members led by Mr. Syaidal. The audit will assess Sinar Pelita's 363.80 hectares of oil palm planted area against the MS 2530-3-1:2022 standard. The audit plan, objectives, criteria, and reporting method were confirmed. The audit will involve a document review, interviews, and site visits to 5 estates based on sampling criteria. Stakeholders were consulted. The roles of guides and confidentiality requirements were also discussed. The client was given an opportunity for questions.
This is a step-by-step process on how to plan and carry out Auditing. This shall be useful for Accountants , professionals,small businesses,big businesses.
The document discusses the importance and principles of auditing quality management systems. It defines key audit terms and outlines the audit process, including planning, execution, reporting, and follow-up. Audits are necessary to ensure effectiveness of quality system implementation, evaluate performance, and drive continuous improvement. The audit process involves preparing an audit program and checklists, conducting opening and closing meetings, gathering objective evidence through observation and documentation review, and issuing corrective actions when nonconformities are found.
Firstly, it will be clarify some of the misunderstandings of some of the fundamental audit concepts and principals that are implemented during the audit or planning of the audit program, focusing on audit guidelines, auditor principles, audit process principles and types of audits. Furthermore, gaining understanding of the management and preparation of an ISO 9001 audit through audit program pillars, good audit practices and prepared work documents and checklists. Outline how to conduct and close an ISO 9001 audit in a professional manner with the precise audit review.
Main points covered:
• Fundamental audit concepts and principles
• Managing an ISO 9001 audit program
• Preparation of an ISO 9001 audit
• Conduct of an ISO 9001 audit & Closing the audit
Presenter:
This webinar was presented by Kefah El-Ghobbas, PECB Certified Trainer and Organizational Development expert and operations manager at TURBO CARBO.
Link of the recorded session published on YouTube:https://youtu.be/kK8pAc3QM5E
This document provides an introduction to quality management system audits. It defines an audit as a systematic, independent and documented process for evaluating evidence objectively to determine if audit criteria are fulfilled. Audits are required by ISO 9001:2008 and help monitor/measure the management system, identify improvement opportunities, and promote continuous improvement. The benefits of auditing include increased awareness, reduced risk of failure, and achievement of planned results. The document then describes the types of audits, principles for auditors and audits, the PDCA methodology, elements of quality management system audits, typical audit activities from initiation to follow up, and techniques for collecting evidence and generating findings.
Performance Based Internal Quality Audit Guidesuranto2000
The document provides guidance for conducting internal quality audits (IQA) in 5 sections:
1. Introduction - Defines audits, criteria, and findings.
2. Audit Preparation - Covers understanding the process, making checklists, and collecting evidence.
3. Conducting the Audit - Guides interviewing auditees, gathering evidence using checklists, and probing issues.
4. Report Making - Offers steps to compile results, write finding statements, and determine applicability.
5. Requirement Area List - Lists ISO 9001 requirements and applicable areas for each.
The document discusses the importance of client acceptance and continuance procedures for audit firms. It outlines what the auditing standards require, such as determining whether the client uses an acceptable financial reporting framework and whether those charged with governance acknowledge their responsibilities. The document also discusses red flags that could indicate higher risk clients, such as frequent changes in auditors or management. Audit firms are encouraged to only take on clients that fit their risk profile and to have documented procedures for acceptance, continuance and declining engagements.
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How to Make a Field Mandatory in Odoo 17Celine George
In Odoo, making a field required can be done through both Python code and XML views. When you set the required attribute to True in Python code, it makes the field required across all views where it's used. Conversely, when you set the required attribute in XML views, it makes the field required only in the context of that particular view.
ISO/IEC 27001, ISO/IEC 42001, and GDPR: Best Practices for Implementation and...PECB
Denis is a dynamic and results-driven Chief Information Officer (CIO) with a distinguished career spanning information systems analysis and technical project management. With a proven track record of spearheading the design and delivery of cutting-edge Information Management solutions, he has consistently elevated business operations, streamlined reporting functions, and maximized process efficiency.
Certified as an ISO/IEC 27001: Information Security Management Systems (ISMS) Lead Implementer, Data Protection Officer, and Cyber Risks Analyst, Denis brings a heightened focus on data security, privacy, and cyber resilience to every endeavor.
His expertise extends across a diverse spectrum of reporting, database, and web development applications, underpinned by an exceptional grasp of data storage and virtualization technologies. His proficiency in application testing, database administration, and data cleansing ensures seamless execution of complex projects.
What sets Denis apart is his comprehensive understanding of Business and Systems Analysis technologies, honed through involvement in all phases of the Software Development Lifecycle (SDLC). From meticulous requirements gathering to precise analysis, innovative design, rigorous development, thorough testing, and successful implementation, he has consistently delivered exceptional results.
Throughout his career, he has taken on multifaceted roles, from leading technical project management teams to owning solutions that drive operational excellence. His conscientious and proactive approach is unwavering, whether he is working independently or collaboratively within a team. His ability to connect with colleagues on a personal level underscores his commitment to fostering a harmonious and productive workplace environment.
Date: May 29, 2024
Tags: Information Security, ISO/IEC 27001, ISO/IEC 42001, Artificial Intelligence, GDPR
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Chapter wise All Notes of First year Basic Civil Engineering.pptxDenish Jangid
Chapter wise All Notes of First year Basic Civil Engineering
Syllabus
Chapter-1
Introduction to objective, scope and outcome the subject
Chapter 2
Introduction: Scope and Specialization of Civil Engineering, Role of civil Engineer in Society, Impact of infrastructural development on economy of country.
Chapter 3
Surveying: Object Principles & Types of Surveying; Site Plans, Plans & Maps; Scales & Unit of different Measurements.
Linear Measurements: Instruments used. Linear Measurement by Tape, Ranging out Survey Lines and overcoming Obstructions; Measurements on sloping ground; Tape corrections, conventional symbols. Angular Measurements: Instruments used; Introduction to Compass Surveying, Bearings and Longitude & Latitude of a Line, Introduction to total station.
Levelling: Instrument used Object of levelling, Methods of levelling in brief, and Contour maps.
Chapter 4
Buildings: Selection of site for Buildings, Layout of Building Plan, Types of buildings, Plinth area, carpet area, floor space index, Introduction to building byelaws, concept of sun light & ventilation. Components of Buildings & their functions, Basic concept of R.C.C., Introduction to types of foundation
Chapter 5
Transportation: Introduction to Transportation Engineering; Traffic and Road Safety: Types and Characteristics of Various Modes of Transportation; Various Road Traffic Signs, Causes of Accidents and Road Safety Measures.
Chapter 6
Environmental Engineering: Environmental Pollution, Environmental Acts and Regulations, Functional Concepts of Ecology, Basics of Species, Biodiversity, Ecosystem, Hydrological Cycle; Chemical Cycles: Carbon, Nitrogen & Phosphorus; Energy Flow in Ecosystems.
Water Pollution: Water Quality standards, Introduction to Treatment & Disposal of Waste Water. Reuse and Saving of Water, Rain Water Harvesting. Solid Waste Management: Classification of Solid Waste, Collection, Transportation and Disposal of Solid. Recycling of Solid Waste: Energy Recovery, Sanitary Landfill, On-Site Sanitation. Air & Noise Pollution: Primary and Secondary air pollutants, Harmful effects of Air Pollution, Control of Air Pollution. . Noise Pollution Harmful Effects of noise pollution, control of noise pollution, Global warming & Climate Change, Ozone depletion, Greenhouse effect
Text Books:
1. Palancharmy, Basic Civil Engineering, McGraw Hill publishers.
2. Satheesh Gopi, Basic Civil Engineering, Pearson Publishers.
3. Ketki Rangwala Dalal, Essentials of Civil Engineering, Charotar Publishing House.
4. BCP, Surveying volume 1
Strategies for Effective Upskilling is a presentation by Chinwendu Peace in a Your Skill Boost Masterclass organisation by the Excellence Foundation for South Sudan on 08th and 09th June 2024 from 1 PM to 3 PM on each day.
Communicating effectively and consistently with students can help them feel at ease during their learning experience and provide the instructor with a communication trail to track the course's progress. This workshop will take you through constructing an engaging course container to facilitate effective communication.
Walmart Business+ and Spark Good for Nonprofits.pdfTechSoup
"Learn about all the ways Walmart supports nonprofit organizations.
You will hear from Liz Willett, the Head of Nonprofits, and hear about what Walmart is doing to help nonprofits, including Walmart Business and Spark Good. Walmart Business+ is a new offer for nonprofits that offers discounts and also streamlines nonprofits order and expense tracking, saving time and money.
The webinar may also give some examples on how nonprofits can best leverage Walmart Business+.
The event will cover the following::
Walmart Business + (https://business.walmart.com/plus) is a new shopping experience for nonprofits, schools, and local business customers that connects an exclusive online shopping experience to stores. Benefits include free delivery and shipping, a 'Spend Analytics” feature, special discounts, deals and tax-exempt shopping.
Special TechSoup offer for a free 180 days membership, and up to $150 in discounts on eligible orders.
Spark Good (walmart.com/sparkgood) is a charitable platform that enables nonprofits to receive donations directly from customers and associates.
Answers about how you can do more with Walmart!"
বাংলাদেশের অর্থনৈতিক সমীক্ষা ২০২৪ [Bangladesh Economic Review 2024 Bangla.pdf] কম্পিউটার , ট্যাব ও স্মার্ট ফোন ভার্সন সহ সম্পূর্ণ বাংলা ই-বুক বা pdf বই " সুচিপত্র ...বুকমার্ক মেনু 🔖 ও হাইপার লিংক মেনু 📝👆 যুক্ত ..
আমাদের সবার জন্য খুব খুব গুরুত্বপূর্ণ একটি বই ..বিসিএস, ব্যাংক, ইউনিভার্সিটি ভর্তি ও যে কোন প্রতিযোগিতা মূলক পরীক্ষার জন্য এর খুব ইম্পরট্যান্ট একটি বিষয় ...তাছাড়া বাংলাদেশের সাম্প্রতিক যে কোন ডাটা বা তথ্য এই বইতে পাবেন ...
তাই একজন নাগরিক হিসাবে এই তথ্য গুলো আপনার জানা প্রয়োজন ...।
বিসিএস ও ব্যাংক এর লিখিত পরীক্ষা ...+এছাড়া মাধ্যমিক ও উচ্চমাধ্যমিকের স্টুডেন্টদের জন্য অনেক কাজে আসবে ...
2. Phase I - Client Acceptance
Phase II - Planning
Phase III – Field work/Testing and
Evidence
Phase IV – Reporting/Evaluation and
Judgment
PREPARED BY ARMAGHANAHMED 050 3060762
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3. Objective:
The client
acceptance
phase of the
audit plan,
Phase I,
involves
deciding
whether to
accept a new
client or
continue with
an existing
one.
• Evaluate the client's background
and reasons for the audit.
• Determine whether the auditor is
able to meet the ethical
requirements regarding the client.
• Determine need for other
professionals.
• Communicate with predecessor
auditor;
• Prepare client proposal.
• Select staff to perform the audit,
and Obtain an engagement letter.
Procedures:
PREPARED BY ARMAGHANAHMED 050 3060762
EDUCATION4ALL-ARMAN.BLOGSPOT.COM
4. Objective:
Determine the
amount and
type of
evidence and
review
required to
give the
auditor
assurance that
there is no
material
misstatement
of the financial
statements.
• Perform audit procedures to understand
the entity and its environment, including
the entity’s internal control;
• Assess the risks of material
misstatements of the financial
statements.
• Determine materiality; and
• Prepare the planning memorandum and
audit program, containing the auditor’s
response to the identified risks.
Procedures
PREPARED BY ARMAGHANAHMED 050 3060762
EDUCATION4ALL-ARMAN.BLOGSPOT.COM
5. Objective Test for evidence supporting internal controls and the fairness of the
financial statements.
Procedures:
(1)Tests of controls;
(2) Substantive tests of transactions;
(3) Analytical procedures;
(4)Tests of details of balances.
(5) Search for unrecorded liabilities.
PREPARED BY ARMAGHANAHMED 050 3060762
EDUCATION4ALL-ARMAN.BLOGSPOT.COM
6. Objective: Complete the audit procedures and issue an
opinion.
Procedures:
• Evaluate governance evidence;
• Perform procedures to identify subsequent events;
• Review financial statements and other report material;
• Perform wrap-up procedures;
• Prepare Matters of Attention for Partners;
• Report to the board of directors; and
• Prepare Audit report.
PREPARED BY ARMAGHANAHMED 050 3060762
EDUCATION4ALL-ARMAN.BLOGSPOT.COM