Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Pains wick Ltd
1. Define a forensic audit and explain how the definition applies to a fraud investigation.
2. Compare the responsibilities of the auditor in respect of fraud when conducting a statutory audit and when conducting a forensic investigation.
3. Explain how the fundamental principles of the Code of Ethics and Conduct apply to forensic assignments.
Example of fraud
The purchase ledger clerk of Painswick Ltd has been channeling payments to suppliers in to his own bank account by altering bank account details of the relevant suppliers on the BACS masterfile. In order to disguise this activity the purchase ledger clerk has:
-Posted the relevant invoices to the purchase ledger twice. One entry has been made correctly to the relevant expense account whilst the other has been debited to a suspense account
-Matched and removed the duplicate invoices and payments before the monthly reconciliation of supplier accounts is performed.
Required
Based on the above example of a fraud identify the procedures which would have enabled the forensic auditor to identify this fraud and quantify the loss to the company.
qarts corporation provides a generous employee compensation package that adds employee stock options. the exercise
For each of the following errors, describe to a recently hired bookkeeper how it would be shown on a cash reconciliation: The bank recorded a deposit of $200 as $2,000. The company's bookkeeper mistakenly recorded a deposit of $530 as $350.
bushong inc. a calendar year s corporation has a tax cash-flow provision in its shareholder agreement. bushong must
The amount of employer's social security tax for the last pay period is $29,600. What adjusting entry should be made to correct this error?
Prepare contribution margin income statements for current operating conditions and if the proposed changes are made.
Calculate Gluco's earnings per share for 2010 that would have been reported in the 2010 annual report.
Support your answer with appropriate computations. Include in your response which line items on the income statement are relevant to this decision and why.
If 35,000 units are sold, what will be the store's operating income (loss)?
Balance sheet and briefly explain the proper treatment of any item criticized - balance sheet of Rubber Industries:
Bella Lugosi Holdings, Inc. (BLH), has collected the following operating information below for its current month's activity. Using this information, prepare a flexible budget analysis to determine how well BLH performed in terms of cost control. A..
What are the tax consequences to the shareholder and the corporation from this distribution and how would your answers change if Beacon received only $600,000 for the assets of the trucking business?
If Gem Systems sells a new issue of preferred stock carrying a par value of $100 but with an annual dividend of 10% of par, what is the cost of this newly issued preferred stock if the firm nets $90.00 per share after flotation costs?
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd