English
中文The alternative opinions for the audit report under ISA 700 are adequate to cover all likely eventualities
Explain the reporting options available. Introduction: Recent Implications ISA 700 auditing standards (hereafter may be alternatively referred to as The Standard) have gained supreme prominence in recent times as more auditors and management(s) are held responsible for the spectacular collapse of conglomerates. Two cases highlight the have been Parmalat collapse in Italy and the recent […]
International financial statement analysis
A) Analyze the financial position and performance of the company you have chosen over the four financial years. We have chosen Morrison Supermarkets for our project. We have used the four years data for the financial years 2002-03, 2003-04, 2004-05, 2005-06 that are represented in the form of 2003, 2004, 2005 and 2006 in line […]
Assessment of control risk and testing of internal controls are the most important parts of the audit
“The overall objective of a financial statement audit is the expression of an opinion on whether the entity’s financial statements give a true and fair view”– Cosserat (2000). When conducting an audit the auditor must continually bear in mind the overall objectives of the assignment which is usually the issue of an audit report, in […]
Advantages and Disadvantages of Merger Between Inland Revenue and Customs
In theory and practice, the key to a successful merger is bringing together similar and compatible cultures. The two industries are different in style: Inland Revenue is seen to have more of a human face, whereas Customs is not seen as favourable in the eyes of most business people and accountants. With the case for […]
Accounting Standards
Subsequently to the collapse of Enron, the UK government set up a high level group of regulators and ministers to co-ordinate a review of the UK regulatory framework, especially the key area of auditor independence. The Accountancy Foundation Review Board, which was in charge of the independent supervision of the UK accountancy professional bodies, took […]
