QUESTION 2Auditor-General's Report: Action taken against 255 civil servants over discrepancies, questionable actionsPUTRAJAYA: A total of 255 civil servants had action taken against them, including being taken to court and being sacked, asa result of discrepancies and questionable actions found by the Auditor-General. They were among 1,000 civil servants whowere investigated between 2012 and 2018 after follow-up was made on the Auditor-General's reports. Auditor-General DatukNik Azman Nik Abdul Majid (pic) said two were charged in court by the Malaysian Anti-Corruption Commission and three civilservants were sacked after follow-up audits were conducted and found them to have committed wrongdoings."If questions arise in the Auditor-General's report, we will meet with the departments or agencies concerned together with thepolice, MACC, and Public Service Department to set up an internal investigations committee."The committee will investigate and determine if the problem was due to mistake, negligence, or power abuse. Action againstthe wrongdoer will then be determined by the committee," he said at a press conference Tuesday (July 14).For committing various types of wrongdoings, warnings were issued against 141 civil servants, 11 were fined, demoted (1),ordered pay cuts (10), and postponement of the increment (26), among others. Nik Azman said that 604 civil servants werefound not guilty by the respective internal investigations committee while another 141 individuals are still awaitingproceedings.The Star, 14 July 2020Required:(a) Based on the above artide, discuss the role of public sector auditing in the process of ensuring accountability,transparency, and good govemance of the civil servants in the public sector organizations.(b) Discuss how the internal auditors can improve fraud prevention and detection in public sector organizations.

Public sector auditing based on public sector auditing standards help determine the financial…

Based on the above article, discuss the role of public sector auditing in the process of ensuring accountability, transparency, and good govemance of the civil servants in the public sector organizations. Discuss how the internal auditors can improve fraud prevention and detection in public sector organizations.

Based on the above article, discuss the role of public sector auditing in the process of ensuring accountability, transparency, and good govemance of the civil servants in the public sector organizations. Discuss how the internal auditors can improve fraud prevention and detection in public sector organizations.

Auditing: A Risk Based-Approach (MindTap Course List)

11th Edition

ISBN:9781337619455

Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Chapter9: Auditing The Revenue Cycle.

Section: Chapter Questions

Problem 48FF

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Question 19 If an auditor believes that a misstatement might be intentional and the effect on the financial statements could be material the auditor should do which of the following? Resign from the engagement Discuss with the audit committee what should be done to prevent possible future future misstatements. Perform additional procedures to obtain additional evidence to determine whether fraud has occurred or is likely to have occurred and whether there is a material impact on the financial statements. Contact local authorities.
24. Which of the following must be done If a resolution has been passed to remove the auditor ? i. Notify the Regulatory Authorities ii. Auditors must deposit statement of circumstances at company's registered office within 21 days of ceasing to hold the office iii. Auditors must deposit statement of circumstances at company's registered office within 14 days of ceasing to hold the office iv. Statement of circumstances must be sent to regulatory authority. a. Only i, ii and iv b. Only i and ii c. Only i , iii and iv d. Only i and iii
1.Discuss the financial irregularities including poor custody of government assets, unlawful procurement and appointment of staffs in Ghana from 2016 to 2022. 3. Discuss the audit issues highlighted by the auditor general in Ghana from 2018 to 2022
Bb.
Question 5 Which ONE of the following should be carried out after the audit firm has accepted an engagement as auditor? A Contact the outgoing auditors to ascertain if there are any reasons they should not accept the assignment B Ensure the audit firm has the experience and resources to conduct the assignment C Perform checks to ensure that there are no legal or ethical reasons why the new audit firm cannot act as auditor D Submit a letter of engagement to the directors
Which of the following is NOT an implication of Section 302 of SOX?a. Auditors must determine whether changes in internal control have materially affected, or are likely to materially affect, internal control over financial reporting.b. Auditors must interview management regarding significant changes in the design or operation of internal control that occurred since the last audit.c. Corporate management (including the CEO) must certify monthly and annually their organization’s internal controls over financial reporting.d. Management must disclose any material changes in the company’s internal controls that have occurred during the most recent fiscal quarter.
Audit Report Deficiencies: Accounting Change and Uncertainty. The following auditors’ report was drafted by Quinn Moore, a staff auditor with Tyler & Tyler, CPAs, at thecompletion of the audit of the financial statements of Park Publishing Company for theyear ended September 30, 2017. The engagement partner reviewed the audit documentation and properly decided to issue an unmodified opinion. In drafting the report, Mooreconsidered the following:∙ During fiscal year 2017, Park changed its depreciation method. The engagement partner concurred with this change in accounting principles and its justification, and Mooreincluded an emphasis-of-matter paragraph in the report.∙ The 2017 financial statements are affected by an uncertainty concerning a lawsuit, theoutcome of which cannot presently be estimated. Moore included an emphasis-of-matterparagraph in the report to disclose this uncertainty.∙ The financial statements for the year ended September 30, 2016, are to be presented…
If the auditor identifies any events or conditions that may cast significant doubt on the entity's ability as a going concern, Auditor shall communicate the same to: Those charged with governance Government Employees Management Which one of the following fraudulent activities constitute misappropriation of assets? 个 Auditing and Cont..pdf 10:38 EN 是小 al T-TI/-V/-o
Assume that Smith & Smith, CPAs, audited Apollo Shoes Inc., last year. Now CEO Larry Lancaster wishes to engage Anderson, Olds, and Watershed, CPAs (AOW) to audit its annual financial statements. Lancaster is generally pleased with the services provided by Smith & Smith, buthe thinks the audit work was too detailed and interfered excessively with normal office routines. AOW has asked Lancaster to inform Smith & Smith of the decision to change auditors, but he does not wish to do so.Required:List and discuss the steps AOW should follow with regard to dealing with a predecessor auditor and a new client before accepting the engagement.
A5
4 AICPA members who work in industry and government must always adhere to which of the following AICPA rules of conduct: Rule 101 independence Rule 202 Compliance with Standards Rule 301 Confidential Client information Rule 501 Acts Discreditable Question 5 Before accepting an engagement to audit a new client, a CPA is required to: Ask the prospective client's consent to make inquiries of the predecessor auditor, if any. Conduct an assessment of the fraud risk factors likely to cause material misstatements. Gain an understanding of the prospective client's industry and business. Obtain the prospective client's signature to a written engagement letter