Audit of multifaceted special events

Assignment Help Auditing
Reference no: EM1354548

As an independent financial consultant, you have been hired to audit the books of a multifaceted special events organization. Upon examination of the records, you determine that management intentionally commingled funds between the different divisions of the organization. Explain your response to this situation and justify the recommendations you would present to management.

Reference no: EM1354548

Questions Cloud

Elucidate how a decline in the cost of business travel : Elucidate how a 20% decline in the cost of business travel would impact this company's budget if the price of business travel was initially $1,000 per trip and the price of electronic media was $500 per hour.
Enduring a traumatic brain injury : A teenager who endured a traumatic brain injury in an automobile accident and who now has severe facial and upper-body scarring?
Explain the horizontal reward system : Explain the horizontal reward system used in a workplace - Do you find this system effective or ineffective? How?
Question on size of accounts receivable : Tidwell, Inc. has weekly credit sales of $19,400, and the average collection period is 34 days. The cost of production is 75 percent of the selling price. What is the average accounts receivable figure?
Audit of multifaceted special events : As an independent financial consultant, you have been hired to audit the books of a multifaceted special events organization. Upon examination of the records, you determine that management intentionally commingled funds between the different divis..
Explain what is an incident report in health care : Explain What is an incident report in health care and When would you complete an incident report and what would you be sure to include in the report?
Organizational challenges : Why are people fearful of change and as an employer, what are some ways to help employees cope with changes
Determine maximum value in ring if there is unique initiator : Design an algorithm that, under the standard set of assumptions (bidirectional links, total reliability, connectivity), determines maximum value in the ring assuming that there is a unique initiator.
Illustrate what effect did this decline : An average yearly rate of 10 to 11 percent in the late 1980s. Illustrate what effect did this decline have on.

Reviews

Write a Review

Auditing Questions & Answers

  Write journal entries for each transaction

Write journal entries for each transaction and What is Nicole's Getaway Spa's gross profit percentage?

  Confirming individual accounts receivable balances

In confirming individual accounts receivable balances, your client's customers reported the exceptions listed below. Which of these exceptions should be considered misstatements for evaluation purposes, assuming that misstatements are defined as

  Evaluating auditing situation

Evaluate the following quotation: "If a CPA firm completes a nonpublic company audit of Adam Company's financial statements following AICPA generally accepted auditing standards and is satisfied with the results of the audit, an unmodified audit r..

  Ap/adms 4551 auditing course: and other assurance services

Course:  AP/ADMS 4551 Auditing: and Other Assurance Services,  What is the auditor's responsibility for discovering this type of embezzlement.

  Defense against litigation for deficiency

What are the legal issues involved in this situation? What should the auditor use as a defense in the event that he is sued? What was the CPA's deficiency in conducting the audit of accounts receivable?

  Question on auditor independence

What are the auditor independence issues surrounding the provision of external auditing services, internal auditing services, and management consulting services for the same client?

  Purpose a sample draft of a unqualified audit opinion

Purpose a sample draft of a standard unqualified audit opinion and make sure you add a clause that the opinion is a Sample Only and not to be used for any other purpose

  Reasons for integrated audit

Discuss the reason for an integrated audit. Present a recent failure of a corporate governance in the US. What action did the public think was necessary to improve the quality of corporate governance in this example?

  Astor city audit standards

Astor City, a small city that is not required to have independent audit, voluntarily decided to have an audit of its financial records. Currently, the city generates $900,000 in revenues. Discuss any potential violations of the applicable audit sta..

  Management fraud

Joseph Wellington, CFE, is preparing to give an educational presentation about management fraud at the annual ACFE conference, which will be held in Las Vegas.

  Bank note issuance

On September 1, 2011, Triton Entertainment borrowed $24 million cash to fund a new Fun Park. The loan was made by Nevada Bank under a non-committed short-term line of credit arrangement. Prepare journal entry for the issuance of the note by Triton.

  Risks with physically accounting for inventory

You are responsible for auditing a wholesale cosmetics distributor with an inventory consisting of thousands of individual items.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd