The value of audit is therefore noted to be derived wholly from its independence. Without the concept of independence, the auditors are noted to lack both credibility and opinion. The nature of relationship that exists between a client and an auditor is by itself a threat to the concept of independence. Incidents of influencing the auditor reports on the financial position of clients have been noted to result due to conflict of interest. The possibilities of a conflict of interest existing between clients and firms are noted to exist. Various connections such as audit firms being associated with other firms, personal as well as family relationships, client's financial interests, employment with the audit firms as well as the provision of various non-audit services to the audit clients are noted to affect the independence...
Strength in character is therefore necessary in order to enable the auditors to have independence in their opinions.
SEC Internet Exercise - Kmart Corporation The company that I have chosen to research is the Kmart Corporation. They operate in the retail-variety stores sector. Their main headquarters is located in Troy, Michigan with retail outlets primarily situated in the Midwest. Their ticker symbol is KM. The company's most recent 10-K was filed with the SEC on May 15, 2002. The 10-K for this company is 77 pages long. The company has
Scientology Introducing a New Religious Movement, one must be as objective as possible. I, for instance, could choose to tell you that L. Ron Hubbard founded the Church of Scientology in 1954 and marketed it as an organization for social reform that essentially became the global force it is today, with (young, professional, stylish, racially-diverse) adherents providing positive sound bites on Scientology.org that promote (in naturalistic, community-oriented settings) the religion as
Foster Children/Foster Care Issues of a Foster Child Child Abuse Families and Children Served through Foster Care The Policy Framework This thesis reviews foster care in the United States: the reasons why children fall into the category of children who need to be taken out of their families and placed in care, the numerous emotional and psychological responses of children in foster care, and the psychological and emotional care that is given to children that
Sarbanes-Oxley. The political pressure of the past several years following the dot.com bubble and the collapse of several major companies created a need for new securities legislation, which culminated last year in the Sarbanes-Oxley Investor Protection Act, which establishes new guidelines for the securities industry. Initially a Democratic brainchild, the act became favored by Republicans in the House when it was realized that such adjustments would be of great benefit to
……South African Municipalities Municipal Revenue Loss Reduction through Improved Municipal Valuation Methodologies:Balance Sheet Enhancement of South African Municipalities to Improve Rates and Taxes Revenue GenerationAbstractThis study examines the property valuation process of Municipalities in South Africa and develops a strategy for strengthening that process in order to more efficiently value properties and ultimately to enhance municipal balance sheets and increase revenue streams. This study proposes an innovative valuation method based
" This project is considered to be the first major update to the Smith Guidance. It was felt that the update was required to shore up some of the deficiencies in the Smith Guidance that have emerged since it was published. There were characteristics of the market that it was felt needed to be addressed, in particular the oligopolistic nature, which exposed the market to considerable uncertainty in the event
Our semester plans gives you unlimited, unrestricted access to our entire library of resources —writing tools, guides, example essays, tutorials, class notes, and more.
Get Started Now