logo

AUDITING THEORY AND PRACTICE FOR THE MYH Audit Division

   

Added on  2020-02-24

13 Pages2944 Words417 Views
Running head: AUDITING THEORY AND PRACTICEAUDITING THEORY AND PRACTICE Name of the StudentName of the UniversityAuthor’s Note
AUDITING THEORY AND PRACTICE FOR THE MYH Audit Division_1
1AUDITING THEORY AND PRACTICE Executive SummaryThe main aim of the study is to address the various types of the legal and ethical issues, whichshould be considered by the Miller Yates Howarth (MYH) audit division. The mainconsideration of the study has been based on the application of “American AccountingAssociation (AAA)”, with the ethical decision for explaining the ethical concerns in the givenstudy. The last part of the study has been related with the appropriate case law with theappropriate recommendations for the managing partners of MYH. The various types of thecomparison of the values has been further seen to be considered with the application of “APES110 Code of Ethics for Professional Accountants”, the main application of the sections withthis rules has been identified with “Section 310 conflicts of interest”vs. “AASB 102 onvaluation of inventories”. The considerations which the company needs to take for the thirdparty has shown the declaration of the financial is not true, auditor has been seen to recklesslyignore the facts is seen to not true, various error has been seen to be committed during thepreparation of the final accounts, the various types of the negligence is seen to be based on thepart of the employer of the auditor and the preparation of the financial statement is doneintentionally so the third party may be able to take appropriate action.
AUDITING THEORY AND PRACTICE FOR THE MYH Audit Division_2
2AUDITING THEORY AND PRACTICE Table of ContentsIntroduction......................................................................................................................................3Answer to Question1.......................................................................................................................3Answer to Question 2......................................................................................................................6Conclusion.......................................................................................................................................9Reference List................................................................................................................................10
AUDITING THEORY AND PRACTICE FOR THE MYH Audit Division_3
3AUDITING THEORY AND PRACTICE IntroductionAAA was founded in 1916 is based on reputable and rich history for holding premiercommunity for the academic accountants. It has been seen that the diversity in the membershiphas been able to create environment by incorporating innovation.The main intention of the report has addressed the various types of the legal and ethicalissues, which should be considered by the Miller Yates Howarth (MYH) audit division. Themain consideration of the study has been based on the application of “American AccountingAssociation (AAA)”, with the ethical decision for explaining the ethical concerns in the givenstudy. The last part of the study has been related with the appropriate case law with theappropriate recommendations for the managing partners of MYH.Answer to Question1AAA ModelDetermination of FactsAs per the given fact MYH accounting firm operates in NSW and Queensland. MorganFertilizers Pty has been is considered with the long standing client of the company with theoperations in Tamworth and Toowoomba. It has been further observed that Morgan Fertilizershas been recently able to change its contractor for the waste management to Dumparound Ltd.Jacqui leak has been further regarded as the senior auditor with the knowledge about thecommunity activities and she is aware of the local council investigating of the Dumparound Ltd.,for the concern of toxic waste in one of the sites (Davidson & Stevens, 2013).
AUDITING THEORY AND PRACTICE FOR THE MYH Audit Division_4

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Legal and Ethics Issues in Audit Division at Miller Yates Howarth
|13
|2863
|381

American Accounting Association (AAA)- Ethical Issues and Decision Models
|11
|2304
|315

Auditing Theory and Practice - Ethical and Legal Issues - Case Study
|12
|2342
|91

ACCT 3005 - Auditing Theory and Practice - Report
|10
|2186
|53

LAW304 - The Ethical and Legal Issues Facing Miller | Governance and Ethics
|11
|2657
|19

AUDITING 9 AUDITING Auditing
|12
|2858
|342