Other attestation standards include specific guidance on other attestation services, again to ensure each CPA practices applicable accounting procedures. The final standard that leads as most important is the Code of Professional Conduct. The Code of Conduct dictates ethical conduct and asserts that all practicing CPAs will act ethically and follow all three former standards and rules. A Code of Conduct is necessary for detouring fraud and ensuring the utmost professional
This is when an auditor does an actual review of the processes and the security of these processes and makes “professional recommendations” on the implementation of systems, the security of the systems and software, and even recommendations on better implementation of the database management. SAS 70 is important for all processes, electronic and manual, that may be outsourced to third party companies or may be maintained by third party software. This report provides the company as well as the third parties with a report that provides information on the internal controls that are in place and their effectiveness within both businesses. This allows the organizations to determine whether or not they need to make changes to their processes to ensure the security of the data that is being shared between parties (Hunton, 2004, p. 217). Finally, SAS 94 addresses the need for the auditor, and its firm, to fully understand the programming and technology that is being used for any given company.
Bv, The agreed ways of working with employer in the following areas. DATA PROTECTION We have to follow the Data protection act 1998. Data must be kept secure and kept in the corrected place for the correct amount of time. All information in the work place is confidential. GRIEVANCE If we feel the need for a grievance to take place we must follow the Disciplinary and Grievance procedures.
* “a statement of management's responsibility for establishing and maintaining adequate internal control over financial reporting for the company; * a statement identifying the framework used by management to evaluate the effectiveness of this internal control; * management's assessment of the effectiveness of this internal control as of the end of the company's most recent fiscal year; and a statement that its auditor has issued an attestation report on management's assessment.” (sec.gov) This is stating management has to take responsibility that they made sure the financial reporting of the company being handed in is correct. They have to explain how and what they have done to assure the financial reports are correct. Management has to get a seal of approval from its auditor agreeing that the financial reports are done properly and there are no mistakes and the necessary steps were taken to attest that the financial statements are correct. This makes management of a company personally responsible things are being done
UNIT 202 Introduction to personal development in health, social care or children’s and young people’s settings. Outcome 1 Understand what is required for competence in own work role 1/ As a care worker it is my duties to ensure I promote a professional and well presented manner. It is my duty to ensure I have been given full training when regarding to medical or manual handling activities. It is my responsibility to ensure the safety and protection of the people I support. I must report any danger that I think can cause harm to myself or others, I have a responsibility to follow company procedures and policies always within my own role.
The GAAS consist of three categories that include the ten standards which are called general standards, standards of field work, and standards of reporting. * The general standards convey the characteristics of acceptable training, mental attitude, and the due professional care that an auditor must exhibit (Boynton & Johnson, 2006). The standards of field work provide details of the requirements that need to be met before the audit can begin. The work needs to be sufficiently planned and have a knowledgeable understanding of the organization including its internal controls. This is necessary in order to assess the risk of misstatement of the financial statements, whether due to a mistake or fraud.
This can be achieved through the following general principles: 1. Establishment of Responsibility - Setting clear expectations of your employees and making sure 2. Segregation of Duties and Segregation of Record Keeping - Making sure that no single individual remains 'unchecked' by others in his or her activities, and that the same people responsible for certain actions are not also solely responsible for recording those actions. 3. Documentation of Procedures - making sure that the expense reports are accurate and that original receipts are used for proof.
Below you will find detailed information that describes how we will manage each of these concerns. Project Schedule Accuracy Our project development structure depends on the details contained within the Project Schedule which is why we need to assure that the schedule is as accurate as possible at all times, that there are control measurements in place to monitor and manage changes to the schedule and that our project activities, processes, and phases are defined within the schedule and have an estimated time frame for completion as accurate as possible. As we all know projects are susceptible to confront changes which make it difficult sometime for Project Managers to estimate or predict an exact time frame for a particular activity or task. Also, we know how this can be of difficulty especially when we have activities that are dependent upon another in order to be executed. Each of them has their own dependencies and
To have a duty of care is to have a legal duty to take reasonable care to ensure the safety of others associated with the business or project. Identification of potential risks to others require the facilitators to assume reasonable