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(solved) Case Study on Auditing

   

Added on  2020-06-03

10 Pages2251 Words114 Views
Auditing
(solved) Case Study on Auditing_1
Table of ContentsINTRODUCTION...........................................................................................................................1PART A...........................................................................................................................................1A-1...............................................................................................................................................1A-2...............................................................................................................................................1A-3...............................................................................................................................................1A-4 (a).........................................................................................................................................2A-4 (b).........................................................................................................................................2PART B............................................................................................................................................2PART C............................................................................................................................................4PART D...........................................................................................................................................5Conclusion.......................................................................................................................................7REFERENCES................................................................................................................................8
(solved) Case Study on Auditing_2
INTRODUCTIONThe practice of auditing commenced on that day when individual assumed to bestewardship over another’s property. In organisation audit is done to do verification of result inthe state affairs of company (Arens, Elder, and Mark, 2012). The auditors are havingresponsibility to meet with society expectation. In this assignment, different case study onauditing has been explained with their solutions. PART AA-1Corporate managers are responsible for marketing pharmaceutical products whichinevitable encounter the challenges of ethical issues. One of the reason is that ethics has specialrelevance to pharmaceutical industry which is related with intrinsic nature of drug product. Asthere are different types of hazardous wastage which could be managed by organisation. Theresources which are using by company should be used in limited manner and these all should beincluded in decision which are taken by organisation. A-2An action which will take by auditor is that, first of all they will see that material errorturnover should not be more than specified rate. If it has been found that there is a greaternumber of percentage of material error, then it is responsibility of manager to inform abouthedge transaction (William Glover, and Prawitt, 2016). Moreover, they have to monitor allhedge transaction and identify that what errors are there where it increasing the errors. Anauditor has to report all transaction which are doing by company to treasure in order to reducethe risk which is related with transaction. Through this they can also identify the weaknesses tocontrol those areas where monitoring is not done properly.A-3While conducting audit on Billing & Associate, it is responsibility of auditor to providesufficient evidence. But at the time of conducting audit, auditor did not perform theirresponsibilities in appropriate manner because there is not a proper evidence. In regard to this,client management asked to organisation to review engagement letter that audit has not been1
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