Essays Tagged: "Audit Committee"
Lucent Technologies
cGinn, the company's CEO departed with an $11.3 million severance package before the company tanked.AuditorLucent's books for fiscal year 2000 were audited by PricewaterhouseCoopers.PricewaterhouseCoo ... rcing action against companies engaging in abusive earnings management suggest that accountants and auditors should be more vigilant in their attempts to identify earnings management activities in its ...
Subjects: Businesss Research Papers > Accounting
Discuss in detail the role of internal auditing, types of internal auditing and how internal audits add value to an organisation.
"The area of internal auditing is ripe for a wide variety of research" (Sarens G., Beelde D.I, 2004, p. 2)Internal audit i ... al activity which is established as a service to the organisation. The IIA defines the New Internal Auditing definition as "an independent, objective assurance and consulting activity designed to add ... s to management is broader than the more traditional concept of appraisal and that today's internal auditors often contribute to better management by providing an internal consulting resource. They al ...
Subjects: Businesss Research Papers > Accounting
Corporate Governance In Banks Undergoing Merger And Acquisition.
so form various committees and appoint its members. Typical example of these committees include,The Audit Committee: responsible for internal financial reporting and control, the performance of intern ... reporting and control, the performance of internal audit function and independent annual financial audit.The Executive Committee: responsible for overall planning, implementation and execution of cor ...
Subjects: Businesss Research Papers > Management
Ethics Artile Review
rmine how to apply the rules to private companies locally. Sarbenes-Oxley has broadened the role of auditors. While internal control has always been part of auditing, the new specific reporting requir ... rt of auditing, the new specific reporting requirements take things much further. In addition to an audit report, a report on a company\'s system of internal control is now also required. The Act esta ...
Subjects: Businesss Research Papers
Contemporary Organizational Structures
tees, I've learned that Microsoft's Board has five committees an Antitrust Compliance Committee, an Audit Committee, a Compensation Committee, a Governance and Nominating Committee, and a Finance Comm ...
Subjects: Businesss Research Papers > Management
Control Mechanisms
echanisms used by many different companies. Some that are used by Southwest Airlines are management audits, finance control, behavior control and output management.Southwest Airlines is known for its ... As mentioned previously, four types of control mechanisms used by Southwest Airlines are management audits, finance control, behavior control, and output management. These different controlling mechan ...
Subjects: Businesss Research Papers
Business Failure Paper
g the duration of Enron, the corporation's governance did not implement their responsibilities. The Audit Committee should have been judgmental on the work of the auditors, but due to the continued in ...
Subjects: Businesss Research Papers
How Control Mechanisms affect AT&T
e a brief description of each of our companies' control mechanisms: performance, budget, management audit, and bureaucratic controls.Despite the fact that billions are spent on control, the public sti ... these functions. For example, a few field inspectors now have offices in addition to their standard audit and investigation offices. These inspection offices vary widely in purpose, staffing, and oper ...
Subjects: Businesss Research Papers > Management > Management Planning & Decision Making
Business Failure
uthority of the corporation did not implement their responsibilities. The committee over seeing the auditing of the financial records should have been judgmental on the work being done by the auditing ... he work being done by the auditing staff, however with the continued increase in stock earnings the audit committee did not feel it needed to investigate the accounting practices being used. The board ...
Subjects: Businesss Research Papers > Management > Leadership and Communication
Transparency in Corporate Governance
board of directors. Laws and regulations mandate that financial information is the oversight of the Audit Committee. Pay-for-performance of executive compensation emergence pressures management to be ... on composition includes accounting and reporting processes to measure and provide routine disclosed audits, quantitative data of the company's financial position, and performance of public trade entit ...
Subjects: Businesss Research Papers
Risks of Non-Compliance in Corporate Governance
tees.After the implementation of the Sarbanes-Oxley Act (SOX) of 2002, "corporations are empowering audit committees, adding financial experts to their boards such as CPAs, enhanced financial whistle- ... the appointment of two independent members for the board of directors. One member will serve on the Audit Committee and the newly-formed Special Litigation Committee of the board of directors. Yet ano ...
Subjects: Businesss Research Papers
Risks of Noncompliance in Corporate Governance
the corporate world. The most controversial element of this Act was, the requirement of the outside auditor, who would evaluate the procedures that companies would follow to have correct financial rep ... is diverting time and efforts of the management from running the company efficiently. The costs for auditing internal controls remains high, for instance, companies paid an average of $ 4.36 million t ...
Subjects: Businesss Research Papers > Management > Human Resource Management
Audit
RSITI TUNKU ABDUL RAHMANFaculty of Accountancy and ManagementBachelor of Accounting (Hons)UKAF 2124 Auditing and Assurance Services II (May 2011, Y3S1)Lecturer/Tutor: Mr. Vincent TungGROUP ASSIGNMENT ... otal 100%Question 1: Following his resignation, MedTrans' former CFO met Gordon Johns, the Deloitte audit engagement partner. Did the CFO have a responsibility to inform Johns of the errors in MedTran ...
Subjects: Businesss Research Papers > Accounting
The relationship between corporate governance and earnings quality of Hong Kong listed company
vernance have an important part for fiduciary responsibilities, responsibility, control mechanisms, auditing and disclose the information to shareholders and others. All related person should abide by ... has been many peoples used for corporate governance including tenure and age of CEO, board size and audit committee. The following two studies are published forty years ago that is surrogated tenure a ...
Subjects: Businesss Research Papers > Accounting
interview
1The Board of Director's Audit Committee in ABC, Inc., manufacturing business in Atlanta believed there could be a basis for ... CPA, specializing in forensic accounting matters to assist the investigation.After questioning the Audit Committee member, the specialist learned that Mr. Jay Rich, a senior manager in the operations ...
Subjects: Businesss Research Papers > Accounting
forensic
1The Board of Director's Audit Committee in ABC, Inc., manufacturing business in Atlanta believed there could be a basis for ... CPA, specializing in forensic accounting matters to assist the investigation.After questioning the Audit Committee member, the specialist learned that Mr. Jay Rich, a senior manager in the operations ...
Subjects: Businesss Research Papers > Accounting