Descartes audit methodology and software
|
|
- Gerard Leonard
- 8 years ago
- Views:
Transcription
1 Descartes audit methodology and software Den norske Revisorforening/ The Norwegian Institute of Public Accountants Den norske Revisorforening
2 Introduction The Norwegian Institute of Public Accountants (DnR) is the professional body for public accountants in Norway Approximately 5000 members side 2
3 Background Until 2011 Statutory audits for all limited liability companies ISAs implemented in 1998 More than 50 % of the statutory audits performed by SMPs Public oversight in Norway for decades Few regulative amendments to national law (implemented the Audit directive) Systematic quality assurance reviews since 1991 side 3
4 Why develop Descartes? Only Big Firms had sophisticated audit methodologies and tools Institute s goal was to give all members access to a high quality methodology supported by an IT-application for planning, performing and documenting the audit side 4
5 About Descartes Descartes is owned by The Norwegian Institute of Public Accountants Bouvet ASA (listed company) is our IT partner side 5
6 Why Descartes? French philosopher and mathematician René Descartes ( ), known for statements like: Always go forward carefully and systematically Do not think that something is true until you are sure of it Dissolve any problem as far as possible Increasing enumeration and control is the only path to full answers side 6
7 About Descartes Launched in 1998 The risk based standards implemented in 2006 Clarified ISAs implemented in 2010 Additional engagement types in 2011: ISA 805, ISRE 2400 and ISRS 4410 New major version in June 2014 (same methodology) side 7
8 About Descartes Number of licenses 2568 Norway 110 Slovenia 43 - Iceland In addition to auditors of financial statements Descartes is used by: Municipality auditors The internal audit department in Norway's largest bank (DNB Nor) Business schools and universities in Norway and Iceland (educational purposes) The public oversight body in Norway The National Audit Office in Iceland side 8
9 About Descartes ISA compliant Using the same expressions and wording as the ISAs White fields/textboxes = ISA requirement Support the audit work flow (phases and audit steps) side 9
10 Phases in Descartes A. Preliminary engagement activities B. Understanding the entity & identifying Risks C. Assessment of controls by audit area D. Further audit procedures by area E. Finalizing audit procedures side 10
11 The risk model Preliminary engagement activities DOCUMENTATION Risk assessment procedures Understanding the entity Risk factors/classes of transactions assertions Evaluating internal controls Auditor s risk assessment assessed risks Further audit procedures Completion activities/conclusions Reporting/Communication
12 Prelimenary procedures Audit procedures Conclusion Financial Statement Reasonable assurance Auditors report IC IR A B C D E side 12
13 Assessed risks INHERENT RISK X CONTROL RISK X DETECTION RISK Phase A Risk assessment procedures Phases B and C Further audit procedures, Phase D Phase E Identification Classes of transactions risks fraud factors Identification and testing of controls Substantive analytical procedures Tests of details ISA 315 ISA 240 ISA 315 ISA 240 ISA 330 ISA 330 ISA 240 side 13
14 About Descartes Help the auditors comply and document their audit in compliance with ISAs Flexible regarding the extent of documentation: Directly in the tool Attachments side 14
15 side 15
16 About Descartes Integration with the ISAs. Sophisticated help function : o purpose of the phase and subphase o relevant ISAs o relevant national regulation side 16
17 side 17
18 side 18
19 side 19
20 About Descartes Scalable and flexible fits all engagements, small large What makes it scalable? The numbers of audit areas The type and extent of procedures to perform Extent of documentation side 20
21 About Descartes Follow-up for each engagement: Engagement status Follow-up Significant matters Open issues Summary of assertions side 21
22 Skjermdump Engagement status side 22
23 About Descartes Portfolio overview - a list of all clients: Important dates within each engagement Date of audit report and responsible auditor Team members, review partner and experts Hours spent on planning, interim audit and year end audit Can be exported to excel for additional analysing side 23
24 About Descartes - Technology Windows client using.net Minimal requirements for each computer Simple internet based installation Automatic distribution of program updates on a continuous basis side 24
25 About Descartes - Technology Online and offline/synchronising: Saves all data in a buffer memory locally Synchronised when the database is accessible Data is stored in one or several databases: Clients are shared by the users All file types can be stored in the database as attachments side 25
26 About Descartes - Technology Minimum requirements for server/database: Operating system: MS Windows Database: MS SQL Server or SQL Express (free versions) Memory: 1024 MB side 27
27 Impacts experienced with Descartes Efficiency 20 % time saved (BDO) Reduction of paper files (80 90 %) Recruitment motivates young people Access and security of client files side 28
28 Descartes ensures: relevant information is obtained and assessed that required procedures are performed (risk assessment) important assessments are made (risk, materiality and audit evidence) sufficient documentation => effective ISA compliant SME audits side 29
29 About Descartes abroad Iceland and Slovenia: Iceland English Slovenia - Slovenian Co-operation with the national institutes: National laws and regulations Translation Training Technical support side 30
30 About Descartes abroad Training: Assist the institutes with training courses Recommend a one day course for beginners Support: Web-based IT-support Web-page Newsletters side 31
31 Pricing The yearly license fee (subscription) is currently NOK 7700 (approx. EUR 1000) for the application (incl. database). The price for an additional user is NOK 2400 (approx. EUR 315). Minimum +/- 100 users. side 32
32 Descartes A high quality audit methodology operationalizing the ISAs supported by a modern IT application is the only way to an effective quality audit fully in compliance with the ISAs. side 33
33 For more information about Descartes Descartes web-page: Download the demo version side 34
Action Plan Developed by Den norske Revisorforening (DnR) BACKGROUND NOTE ON ACTION PLANS
BACKGROUND NOTE ON ACTION PLANS Action Plans are developed by IFAC members and associates to address policy matters identified through their responses to the IFAC Compliance Self-Assessment Questionnaires.
More informationFEE Qualification and Market Access Working Party
FEE Qualification and Market Access Working Party Structure and Organisation of the Accountancy Profession Key features Norway Status: February 2012 Contact person: Espen Knudsen, e-mail: Espen.Knudsen@revisorforeningen.no
More informationComparison of ISA 330 with AS-402 Objectives and Requirements Only
Comparison of ISA 330 with AS-402 Objectives and Requirements Only International Standard on Auditing 330 (Redrafted): The Auditor s INTRODUCTION Scope of this ISA 1. This International Standard on Auditing
More informationSESSION 3 AUDIT PLANNING
SESSION 3 AUDIT PLANNING Learning Objectives: identify and explain the need for planning an audit identify and describe the contents of the overall audit strategy and the audit plan explain the difference
More informationISRE 2400 (Revised), Engagements to Review Historical Financial Statements
International Auditing and Assurance Standards Board Exposure Draft January 2011 Comments requested by May 20, 2011 Proposed International Standard on Review Engagements ISRE 2400 (Revised), Engagements
More informationRisk Assessment Standards
Risk Assessment Standards Virginia Government Finance Officer's Association Spring Conference May 23, 2008 P R C P KMPG LLP J M P C B H H H T M AICPA Presentation Objectives 1. Discuss background of risk
More informationInterim report 1st quarter 2016
Interim report 1st quarter 2016 About Komplett Bank ASA Komplett Bank ASA started banking operations on 21 March 2014 when the company received its banking licence from the Norwegian authorities. Komplett
More informationIntegral Investment Service
For the Financial Year ended 30 June 2009 2009 Auditor's Report and Directors' Declaration to Members 09 Important Information The Operator of the is Plan B Trustees Limited. It has issued the Auditor's
More informationGUIDELINES FOR AUDITS OF COUNTY AND CITY HOSPITALS BY INDEPENDENT CERTIFIED PUBLIC ACCOUNTING FIRMS
GUIDELINES FOR AUDITS OF COUNTY AND CITY HOSPITALS BY INDEPENDENT CERTIFIED PUBLIC ACCOUNTING FIRMS ISSUED JUNE 2002 INTRODUCTION On March 21, 2002, Public Law 91, 2002 amended IC 16-22-3-12 to allow county
More informationRisks (Audit Risk Formula)
Risks (Audit Risk Formula) Component of Audit Risk Inherent risk Errors likely to occur In client s financial statements Control risk Detection risk Audit risk Errors not detected by controls Errors that
More informationThe Holding Company S auditor
Unofficial translation Practice Note Audit of (intermediate) holding 1 December 2015 1 Introduction Compared to some other countries, The Netherlands has a relatively large number of intermediate and top
More informationAbout Komplett Bank ASA. Outlook. Developments to date
Interim report 3 rd quarter 2015 About Komplett Bank ASA Komplett Bank ASA started banking operations on 21 March 2014 when the company received its banking licence from the Norwegian authorities. Komplett
More informationWork Plan for 2015 2016: Enhancing Audit Quality and Preparing for the Future. The IAASB s Work Plan for 2015 2016 December 2014
The IAASB s Work Plan for 2015 2016 December 2014 International Auditing and Assurance Standards Board Work Plan for 2015 2016: Enhancing Audit Quality and Preparing for the Future This document was developed
More informationinterim report 2nd quarter 2008 BN Boligkreditt AS
interim report 2nd quarter 2008 BN Boligkreditt AS CONTENTS Report of the Directors...3 Consolidated Income Statement...4 Consolidated Balance Sheet...4 Consolidated Statement of Changes in Equity...5
More informationINTERNATIONAL STANDARD ON REVIEW ENGAGEMENTS 2410 REVIEW OF INTERIM FINANCIAL INFORMATION PERFORMED BY THE INDEPENDENT AUDITOR OF THE ENTITY CONTENTS
INTERNATIONAL STANDARD ON ENGAGEMENTS 2410 OF INTERIM FINANCIAL INFORMATION PERFORMED BY THE INDEPENDENT AUDITOR OF THE ENTITY (Effective for reviews of interim financial information for periods beginning
More informationAbout Komplett Bank ASA. Outlook. Developments to date
Interim report 4th quarter 2015 About Komplett Bank ASA Komplett Bank ASA started banking operations on 21 March 2014 when the company received its banking licence from the Norwegian authorities. Komplett
More informationBDO Seidman, LLP Accountants and Consultants
BDO Seidman, LLP Accountants and Consultants 330 Madison Avenue New York, NY 10017 (212) 885-8000 Phone (212) 697-1299 Fax Via E-mail: comments@pcaobus.org Office of the Secretary Public Company Accounting
More informationINTERNATIONAL STANDARD ON AUDITING 401 AUDITING IN A COMPUTER INFORMATION SYSTEMS ENVIRONMENT CONTENTS
INTERNATIONAL STANDARD ON AUDITING 401 AUDITING IN A COMPUTER INFORMATION SYSTEMS ENVIRONMENT (This Standard is effective, but will be withdrawn when ISA 315 and 330 become effective) * CONTENTS Paragraph
More informationAudit Quality Thematic Review
Thematic Review Professional discipline Financial Reporting Council December 2014 Audit Quality Thematic Review The audit of loan loss provisions and related IT controls in banks and building societies
More informationSTANDING ADVISORY GROUP MEETING
1666 K Street, NW Washington, D.C. 20006 Telephone: (202) 207-9100 Facsimile: (202)862-8430 www.pcaobus.org STANDING ADVISORY GROUP MEETING AUDIT CONFIRMATIONS APRIL 2, 2009 Introduction Confirmations
More informationAddressing Disclosures in the Audit of Financial Statements
Exposure Draft May 2014 Comments due: September 11, 2014 Proposed Changes to the International Standards on Auditing (ISAs) Addressing Disclosures in the Audit of Financial Statements This Exposure Draft
More information70-671. Designing and Providing Microsoft Volume Licensing Solutions to. Small and Medium Organizations Exam. http://www.examskey.com/70-671.
Microsoft 70-671 Designing and Providing Microsoft Volume Licensing Solutions to Small and Medium Organizations Exam TYPE: DEMO http://www.examskey.com/70-671.html Examskey Microsoft70-671 exam demo product
More informationGuide to Using International Standards on Auditing in the Audits of Small- and Medium-Sized Entities. Volume 1 Core Concepts Second Edition
Guide to Using International Standards on Auditing in the Audits of Small- and Medium-Sized Entities Volume 1 Core Concepts Second Edition Small and Medium Practices Committee International Federation
More informationBoard of Directors Salaries - A Guide
ITEM 4: BOARD OF DIRECTORS STATEMENT REGARDING SALARY AND OTHER REMUNERATION OF EXECUTIVE PERSONNEL Statement regarding stipulation of salaries and other remuneration of executive personnel in Lerøy Seafood
More informationISA 200, Overall Objective of the Independent Auditor, and the Conduct of an Audit in Accordance with International Standards on Auditing
International Auditing and Assurance Standards Board Exposure Draft April 2007 Comments are requested by September 15, 2007 Proposed Revised and Redrafted International Standard on Auditing ISA 200, Overall
More informationThe purpose of internal control within the Cegedim Group are based on the following topics:
CHAIRMAN OF THE BOARD OF DIRECTORS REPORT ON THE PREPARATION AND ORGANIZATION OF THE BOARD S WORK AND ON THE INTERNAL CONTROL PROCEDURES IMPLEMENTED BY THE COMPANY INTERNAL CONTROL PROCEDURES Purpose of
More informationEU Project N MARKT/2007/15/F LOT 2
EU Project N MARKT/2007/15/F LOT 2 Evaluation of the differences between International Standards on Auditing (ISA) and the standards of the US Public Company Accounting Oversight Board (PCAOB) Maastricht
More informationQuality Management Manual Nordic Patent Institute. For the Following Processes:
Quality Management Manual Nordic Patent Institute For the Following Processes: Statutory work Business Services for private customers Level 1 Policy, Goals and Organisation Version dated 30.05.2011 1 of
More informationThe Audit Plan for West Mercia Energy Joint Committee
The Audit Plan for West Mercia Energy Joint Committee Year ended 31 March 2015 16th February 2015 Jon Roberts Partner T 0121 232 5410 E jon.roberts@uk.gt.com Andrew Davies Manager T 0121 232 5417 E andrew.davies@uk.gt.com
More informationANNEX VI MODEL TERMS OF REFERENCE FOR THE CERTIFICATE ON THE FINANCIAL STATEMENTS PART ï
'4. J ' S., --t r - i^v. ^l- ' 1 I Version of 18.11.2013 EUROPEAN COMMISSION DIRECTORATE-GENERAL FOR EDUCATION AND CULTURE Lifelong learning: higher education and international affairs Cooperation and
More informationAudit Documentation 2029. See section 9339 for interpretations of this section.
Audit Documentation 2029 AU Section 339 Audit Documentation (Supersedes SAS No. 96.) Source: SAS No. 103. See section 9339 for interpretations of this section. Effective for audits of financial statements
More informationINFORMATION FOR PARTICIPANTS ON THE MERGER OF COLLECTIVE INVESTMENT UNDERTAKINGS
INFORMATION FOR PARTICIPANTS ON THE MERGER OF COLLECTIVE INVESTMENT UNDERTAKINGS On 07-04-2015 the Central Bank of Lithuania gave its permission to merge the investment fund "Dovre Inside Nordic" with
More informationAnnual Assessment of the External Auditor
Annual Assessment of the External Auditor TOOL FOR AUDIT COMMITTEES January 2014 ENHANCING AUDIT QUALITY AUDIT COMMITTEES iii Table of Contents Introduction 1 1. Determine the scope, timing and process
More informationStrategy for 2015 2019: Fulfilling Our Public Interest Mandate in an Evolving World
The IAASB s Strategy for 2015 2019 December 2014 International Auditing and Assurance Standards Board Strategy for 2015 2019: Fulfilling Our Public Interest Mandate in an Evolving World This document was
More informationPoland using commercial software to teach auditing within Universities
Poland using commercial software to teach auditing within Universities Accounting and Auditing Education Community of Practice Workshop, Vienna, 16-17January 2014 Poland Financial Reporting Technical Assistance
More informationInternational Standards on Auditing (ISA) and their Use for Second Level Control of European Territorial Cooperation Programmes
International Standards on Auditing (ISA) and their Use for Second Level Control of European Territorial Cooperation Programmes by Susanne Volz, Financial Control Expert The Programming Period 2007-2013
More informationUniversity Hospital Southampton NHS Foundation Trust
University Hospital Southampton NHS Foundation Trust EDGE was developed within the National Cancer Research Network in 2000 as an information system solution to help front line clinical research staff
More informationGIEK in 2010: Records, risk and limited resources. Wenche Nistad
The year 10 GIEK in 2010: Records, risk and limited resources «GIEK s revenues from premiums and fees passed NOK 1 billion in 2010. This proves that there is a great need for our services, and that GIEK
More informationAct on insurance companies, pension undertakings and their activities etc. (Insurance Act)
FINANSTILSYNET The Financial Supervisory Authority of Norway Translation as of June 2013 This translation is for information purposes only. Legal authenticity remains with the official Norwegian version
More informationMINUTES OF THE EXTRAORDINARY GENERAL MEETING PAN FISH ASA
MINUTES OF THE EXTRAORDINARY GENERAL MEETING OF PAN FISH ASA The general meeting of Pan Fish ASA was held on 10 October 2003 in the company's offices in Ålesund. 1. Opening of the general meeting - registration
More informationOffice of the Auditor General Western Australia. Audit Practice Statement
Office of the Auditor General Western Australia Audit Practice Statement Office of the Auditor General Western Australia 7th Floor Albert Facey House 469 Wellington Street Perth Mailing Address Perth BC
More informationAuditing Standard ASA 600 Special Considerations Audits of a Group Financial Report (Including the Work of Component Auditors)
ASA 600 (October 2009) Auditing Standard ASA 600 Special Considerations Audits of a Group Financial Report (Including the Work of Component Auditors) Issued by the Auditing and Assurance Standards Board
More informationEnhancing the Corporate Financial Reporting Infrastructure in Poland Henri Fortin, Head, CFRR
Enhancing the Corporate Financial Reporting Infrastructure in Poland Henri Fortin, Head, CFRR KIBR Annual Auditing Conference 26 October 2011 Poland Financial Reporting Technical Assistance Program (FRTAP)
More informationAuditing Standard ASA 330 The Auditor's Responses to Assessed Risks
ASA 330 (October 2009) Auditing Standard ASA 330 The Auditor's Responses to Assessed Risks Issued by the Auditing and Assurance Standards Board Obtaining a Copy of this Auditing Standard This Auditing
More informationGuidance Statement GS 007 Audit Implications of the Use of Service Organisations for Investment Management Services
GS 007 (March 2008) Guidance Statement GS 007 Audit Implications of the Use of Service Organisations for Investment Management Services Issued by the Auditing and Assurance Standards Board Obtaining a
More informationChapter 5- External I-9 Attorney Audits
Chapter 5- External I-9 Attorney Audits 5.0 The External I-9 Audit The private external compliance audit contains the Form I-9 audit, the compliance program audit (Chapter 6) the liability audit (Chapter
More informationKLP BOLIGKREDITT AS Interim report Q2 2015
KLP BOLIGKREDITT AS Interim report Q2 2015 INCOME STATEMENT BALANCE SHEET NOTES TO THE ACCOUNTS Contents KLP Boligkreditt AS Interim financial statements 2/2015 3 Income statement 5 Balance sheet 6 Statement
More informationPlan for the audit of the 2011 financial statements
INTERNATIONAL TRAINING CENTRE OF THE ILO Board of the Centre 73rd Session, Turin, 3-4 November 2011 CC 73/5/2 FOR INFORMATION FIFTH ITEM ON THE AGENDA Plan for the audit of the 2011 financial statements
More informationFusionRisk Regulation Software overview. A complete solution to changing regulatory challenges. Stay on top of the compliance game
FusionRisk Regulation Software overview A complete solution to changing regulatory challenges Stay on top of the compliance game FusionRisk enabled us to draw a full circle between asset liability management,
More information[300] Accounting and internal control systems and audit risk assessments
[300] Accounting and internal control systems and audit risk assessments (Issued March 1995) Contents Paragraphs Introduction 1 12 Inherent risk 13 15 Accounting system and control environment 16 23 Internal
More informationGjensidige in brief. Attractive position in Nordic GI. Balanced retail portfolio. Private and SME exposure 80 % direct distribution
1 Gjensidige in brief Attractive position in Nordic GI Balanced retail portfolio Accident & Health 21% Motor 33% Property 36% 200 years history Earned premiums : NOK bn 19 Equity: NOK bn 26 Market cap:
More informationPaper F8 (INT) Audit and Assurance (International) Thursday 5 December 2013. Fundamentals Level Skills Module
Fundamentals Level Skills Module Audit and Assurance (International) Thursday 5 December 2013 Time allowed Reading and planning: Writing: 15 minutes 3 hours ALL FIVE questions are compulsory and MUST be
More informationBOARD OF AUDITORS. Annual Report to the Board of Governors. 1. Introduction. for the period ended 31 December 2013
BOARD OF AUDITORS Annual Report to the Board of Governors for the period ended 31 December 2013 1. Introduction The Board of Auditors of the European Stability Mechanism [the "ESM"] is estabbshed pursuant
More informationPlanning an Audit 255
Planning an Audit 255 AU-C Section 300 Planning an Audit Source: SAS No. 122; SAS No. 128. Effective for audits of financial statements for periods ending on or after December 15, 2012. Introduction Scope
More informationINTERNATIONAL STANDARD ON AUDITING 230 AUDIT DOCUMENTATION CONTENTS
INTERNATIONAL STANDARD ON AUDITING 230 AUDIT DOCUMENTATION (Effective for audits of financial statements for periods beginning on or after December 15, 2009) CONTENTS Paragraph Introduction Scope of this
More informationRisikobaseret tilgang til revision
Risikobaseret tilgang til revision Hvordan får vi egentlig forholdt os praktisk til ISA 315? v/henrik Nørgaard & Thomas Kühn Structure of the Global Audit Methodology September 2013 Page 2 Phase 1 Planning
More informationThe Terms of Reference should be completed by the Beneficiary and be agreed with the Auditor
ANNEX V-A FORM - TERMS OF REFERENCE FOR THE CERTIFICATE OF FINANCIAL STATEMENTS TABLE OF CONTENTS TERMS OF REFERENCE FOR AN INDEPENDENT REPORT OF FACTUAL FINDINGS ON COSTS CLAIMED UNDER A ERC GRANT AGREEMENT
More informationUpgrading from VAM/SQL MS303 to VAM/SQL MS401
Upgrading from VAM/SQL MS303 to VAM/SQL MS401 First Release: April, 1999 The information contained in this document represents the current view of AccountMate Software Corporation on the issues discussed
More informationCOMMUNICATIONS WITH AUDIT COMMITTEES OVERVIEW OF PCAOB AUDITING STANDARD NO. 16
FEBRUARY 2013 www.bdo.com AN OFFERING FROM BDO S CORPORATE GOVERNANCE PRACTICE BDO USA CORPORATE GOVERNANCE PRACTICE BDO USA s Corporate Governance Practice was developed to provide guidance to corporate
More informationAct of 5 July 2002 No. 64 on the Registration of Financial Instruments (Securities Register Act)
FINANSTILSYNET Norway Translation update: November 2014 This translation is for information purposes only. Legal authenticity remains with the official Norwegian version as published in Norsk Lovtidend.
More informationAlgeta includes a Corporate Governance review in its annual report and has implemented a set of ethical guidelines.
Corporate governance principles and review As a Norwegian public limited liability company, Algeta is subject to the regulation of the Public Limited Liability Companies Act of 1997, as amended (the Act
More informationApplication of software tools during audits. Ing. Martin Lejsal September 2011
Application of software tools during audits. Ing. Martin Lejsal September 2011 1.1Introduction of software tools CIS Control information system (CIS) supports: planning of the audits realization of the
More informationData sheet. MainManager IT
Data sheet MainManager IT Mainmanger IT is helping IT Managers and other IT responsible in companies, municipalities and organisations to plan and increase the return of investments in IT equipment. This
More informationAuditing Module 7 June 2009. Suggested Solutions
Auditing Module 7 June 2009 Suggested Solutions 1 Question 1 1. Tests of control are tests carried out to obtain assurance about the operating and effectiveness of controls. An example of such a test would
More informationISSAI 1300. Planning an Audit of Financial Statements. Financial Audit Guideline
The International Standards of Supreme Audit Institutions, ISSAI, are issued by the International Organization of Supreme Audit Institutions, INTOSAI. For more information visit www.issai.org. Financial
More informationBOARD OF AUDITORS ANNUAL REPORT TO THE BOARD OF GOVERNORS
BOARD OF AUDITORS ANNUAL REPORT TO THE BOARD OF GOVERNORS for the period ended 31 December 2015 Board of Auditors European Stability Mechanism 2 1. INTRODUCTION The Board of Auditors of the European Stability
More informationLifetime Investment Service. For the financial year ended 30 June 2013 ARSN 088 043 234. 2013 Annual Report to Members
For the financial year ended 30 June 2013 ARSN 088 043 234 13 2013 Annual Report to Members Directors Report The directors of IOOF Investment Management Limited (ABN 53 006 695 021), the Responsible Entity
More informationHow To Audit A Financial Statement
INTERNATIONAL STANDARD ON 400 RISK ASSESSMENTS AND INTERNAL CONTROL (This Standard is effective, but will be withdrawn when ISA 315 and 330 become effective) * CONTENTS Paragraph Introduction... 1-10 Inherent
More informationJosephine Mathias. Kenneth J. Horowitz Phone: 609-586-4800 Ext. 3468 e-mail: horowitk@mccc.edu
ACC204 Auditing Administrative Outline Course Information Organization Mercer County Community College Course Number ACC204 Credits 3 Lecture/Lab 3/1 Catalog Description Investigation into and application
More informationFundamental Principles of Public-Sector Auditing
ISSAI 100 The International Standards of Supreme Audit Institutions, or ISSAIs, are issued by INTOSAI, the International Organisation of Supreme Audit Institutions. For more information visit www.issai.org
More informationBy Kim Michael Thon Business Development
By Kim Michael Thon Business Development Working Language Deutschsprachige Kontakperson English is the working language Saves costly translations Mitigates risk of mistakes occuring in translation Introduction
More informationAudit Sampling. AU Section 350 AU 350.05
Audit Sampling 2067 AU Section 350 Audit Sampling (Supersedes SAS No. 1, sections 320A and 320B.) Source: SAS No. 39; SAS No. 43; SAS No. 45; SAS No. 111. See section 9350 for interpretations of this section.
More informationISA 620, Using the Work of an Auditor s Expert. Proposed ISA 500 (Redrafted), Considering the Relevance and Reliability of Audit Evidence
International Auditing and Assurance Standards Board Exposure Draft October 2007 Comments are requested by February 15, 2008 Proposed Revised and Redrafted International Standard on Auditing ISA 620, Using
More informationCorporate governance. 1. Implementation and reporting on corporate governance. 2. IDEX s business. 3. Equity and dividends
Corporate governance Update resolved by the board of directors of IDEX ASA on 16 April 2015. This statement outlines the position of IDEX ASA ( IDEX or the Company ) in relation to the recommendations
More informationINTERNATIONAL STANDARD ON ASSURANCE ENGAGEMENTS 3000 ASSURANCE ENGAGEMENTS OTHER THAN AUDITS OR REVIEWS OF HISTORICAL FINANCIAL INFORMATION CONTENTS
INTERNATIONAL STANDARD ON ASSURANCE ENGAGEMENTS 3000 ASSURANCE ENGAGEMENTS OTHER THAN AUDITS OR REVIEWS OF HISTORICAL FINANCIAL INFORMATION (Effective for assurance reports dated on or after January 1,
More informationNew Audit Standards: How Will They Impact the Audit
New Audit Standards: How Will They Impact the Audit Process? Presented by Robinson, Farmer, Cox Associates The Commonwealth s premier source of financial expertise since 1953. Presentation Objectives Discuss
More informationAuditing Standard ASA 520 Analytical Procedures
ASA 520 (October 2009) Auditing Standard ASA 520 Issued by the Auditing and Assurance Standards Board Obtaining a Copy of this Auditing Standard This Auditing Standard is available on the Auditing and
More information24/05/2011 ABC D EC E IS I I S O I N O
ABC DECISION a new Controlling tool for SME s FERENC DULA Project Manager FDS Consulting Ltd. TIBOR KÉZI Head of Development FDS Consulting Ltd. 1 FDS: Consulting and software development of Activity Based
More informationGuide to Accounting Officer Reporting Engagements
Guide to Accounting Officer Reporting Engagements EXPRESSION OF INTEREST FOR TRAINING PROVIDERS TO PROVIDE APPROVED TRAINING PROGRAMMES TO SAICA MEMBERS SOUTHERN AFRICAN INSTITUTE FOR BUSINESS ACCOUNTANTS
More informationTel: +8 6382 4600 Fax: +8 6382 4601 www.bdo.com.au 38 Station Street Subiaco, WA 6008 PO Box 700 West Perth WA 6872 Australia DECLARATION OF INDEPENDENCE BY BRAD MCVEIGH TO THE DIRECTORS OF FOUNDATION
More informationEuropean Commission Green Paper on Audit Policy: Lessons from the Crisis. Opinion of the Chamber of Auditors of the Czech Republic
(1) Do you have general remarks on the approach and purposes of this Green Paper? We have no general remarks on the approach of this Green Paper and on its purpose, and we fully support the discussion
More informationIAASB. EMERGING PRACTICE ISSUES REGARDING t h e USE o f EXTERNAL CONFIRMATIONS STAFF AUDIT PRACTICE ALERT NOVEMBER 2009.
IAASB NOVEMBER 2009 STAFF AUDIT PRACTICE ALERT International Auditing and Assurance Standards Board The IAASB is an independent standard-setting board of the International Federation of Accountants. EMERGING
More informationCITY OF VINCENT. Audit Completion Report to the Audit Committee For the Year Ended 30 June 2015
CITY OF VINCENT Audit Completion Report to the Audit Committee For the Year Ended 30 June 2015 20 November 2015 Table of Contents 1. Executive Summary... 1 1.1 Status of Audit... 1 1.2 Deliverables...
More informationCommunicating Internal Control Related Matters Identified in an Audit
Communicating Internal Control 1843 AU Section 325 Communicating Internal Control Related Matters Identified in an Audit (Supersedes SAS No. 112.) Source: SAS No. 115. Effective for audits of financial
More informationTechnology Partners. Acceleratio Ltd. is a software development company based in Zagreb, Croatia, founded in 2009.
Acceleratio Ltd. is a software development company based in Zagreb, Croatia, founded in 2009. We create innovative software solutions for SharePoint, Office 365, MS Windows Remote Desktop Services, and
More informationINTERNATIONAL STANDARD ON AUDITING 250 CONSIDERATION OF LAWS AND REGULATIONS IN AN AUDIT OF FINANCIAL STATEMENTS CONTENTS
INTERNATIONAL STANDARD ON AUDITING 250 CONSIDERATION OF LAWS AND REGULATIONS (Effective for audits of financial statements for periods beginning on or after December 15, 2009) CONTENTS Paragraph Introduction
More informationPresented by Vuyelwa Toni Penxa, Samuel Isaacs, Joe Samuels and Mark Albertyn
Presented by Vuyelwa Toni Penxa, Samuel Isaacs, Joe Samuels and Mark Albertyn 1 Positioning The NQF And SAQA Change and Corporate Governance Annual Financial Report Continuity Matters raised previously
More informationThe Auditor General's Act
The Auditor General's Act Consolidation of Consolidating Act No. 3 of 7 January 1997 as amended by Act No. 590 of 13 June 2006 Audit of State Accounts etc (Consolidation) Act 1.- (1) The audit according
More informationGjensidige Bank ASA. Presentation. Bergen, 23. April 2008 Oslo, 24 April 2008
Gjensidige Bank ASA Presentation Bergen, 23. April 2008 Oslo, 24 April 2008 Presentation team Tor Magne Lønnum Chairman of the Board Experience: Gjensidige Forsikring SKIPPER Electronics AS Samarbeidende
More informationPractice guide. quality assurance and IMProVeMeNt PrograM
Practice guide quality assurance and IMProVeMeNt PrograM MarCh 2012 Table of Contents Executive Summary... 1 Introduction... 2 What is Quality?... 2 Quality in Internal Audit... 2 Conformance or Compliance?...
More informationLEGISLATIVE AUDIT DIVISION MEMORANDUM
LEGISLATIVE AUDIT DIVISION Tori Hunthausen, Legislative Auditor Deborah F. Butler, Legal Counsel Deputy Legislative Auditors: Cindy Jorgenson Angie Grove MEMORANDUM TO: FROM: DATE: January 2012 CC: RE:
More informationISAE 3000 (Revised), Assurance Engagements Other Than Audits or Reviews of Historical Financial Information
International Auditing and Assurance Standards Board Exposure Draft April 2011 Comments requested by September 1, 2011 Proposed International Standard on Assurance Engagements (ISAE) ISAE 3000 (Revised),
More informationManagement of equity fund corrective order
DNB Asset Management AS Postboks 1600 Sentrum 0021 OSLO c/o Board chair OUR REFERENCE YOUR REFERENCE DATE 14/5784 02.03.2015 Translation as of 13 April 2015. The Norwegian letter was dated 2 March 2015.
More informationCloud Computing and Data Protection Compliance - Experiences from Norway
Cloud Computing and Data Protection Compliance - Experiences from Norway PhD Thomas Olsen Legal Aspects of Cloud Computing, UiO, 27 January 2015 www.svw.no Overview Cloud Computing Introduction to EU and
More informationAction Plan Developed by. KHT-yhdistys Finnish Institute of Authorised Public Accountants BACKGROUND NOTE ON ACTION PLANS
Kht-Yhdistys - Finnish of Authorised Public Accountants BACKGROUND NOTE ON ACTION PLANS Action Plans are developed by IFAC members and associates to address policy matters identified through their responses
More informationGjensidige Pensjonsforsikring AS (GPF) Investor presentation. June 2016
Gjensidige Pensjonsforsikring AS (GPF) Investor presentation June 2016 Disclaimer This presentation and the information contained herein have been prepared by and is the sole responsibility of Gjensidige
More informationCorporate Governance. Document Request List Funds
Document Request List Funds Please provide documents noted below, as applicable, in English. For new funds or existing funds where requested documents are currently being developed, please provide draft
More informationTerm Sheet ISIN: NO 0010672827. FRN Marine Harvest ASA Senior Unsecured Open Bond Issue 2013/2018 (the Bonds or the Loan )
Term Sheet ISIN: NO 0010672827 FRN Marine Harvest ASA Senior Unsecured Open Bond Issue 2013/2018 (the Bonds or the Loan ) Settlement date: Expected to be 12 March 2013 Issuer: Currency: Loan Amount / First
More informationplacing people first SALARY REPORT Summary of 2014 Bratislava
placing people first SALARY REPORT Summary of 2014 1 / Cpl Jobs Salary Report Table of content 3 / Summary of 2014 / About Cpl Jobs 4 / IT 7 / Finance 9 / BPO/SSC 2 / Cpl Jobs Salary Report Summary of
More informationFinance and Accounting Control, Record Keeping and Reporting Services
Position Title: Finance Officer Job Description Department: Reports To: Finance Financial Analyst Purpose The Finance Officer is responsible for the maintenance of finance and accounting transactions and
More information