Smackey Dog Foods, Inc Questions: Q1: Discuss how the SEC has influence (if any) over the audit of Smackey Dog Foods, Inc. The Securities and Exchange Commission has a significant influence on the audit of Smackey Dog Foods, Inc. by Keller CPAs. This influence can be detected in the audit standards as followed: In the audit of publicly listed companies including Smackey, auditors need to observe principles. Although the standards are enforceable for the audit of public companies, it can also be applied to the audit of non-public companies like Smackey Dog Foods, Inc. Independence is one of the six ethical principles of the American Institute of Certified Public Accountants (AICPA) Code of Professional Conduct.
The first general standard states the following: The Smackey Dog Food, Inc. has many remote locations that are not properly managed by the company. Keller CPA might need to seek the assistance of a specialist in this industry because they had never audited a client of this nature. UNDERSTAND THE CLIENT’S BUSINESS AND INDUSTRY – Understanding of the client’s business and industry and knowledge about the company’s operations are essential for the auditor to conduct an adequate audit. Per the 2nd standard of field work: “The auditor must obtain a sufficient understanding of the entity and its environment, including its internal control, to assess the risk of material misstatement of the financial statements whether due to error or fraud, and to design the nature, timing, and extent of
Plan and Design an Audit Approach- this phase describes everything that was assessed in question 2, including the industry, business risks, fraud risk, and internal controls. The goal of this phase is to assess Smackey Dog Food Inc. to grasp an understanding of the client to develop an audit plan and audit program that will assess the risk of the client and provide reasonable assurance and support the audit report and audit opinion. EX: Weakness in this stage is that Keller CPAs has never audited a dog food company, therefore it will have to rely on industry related audits to understand its clients and the risks associated with the
First, consider whether or not the data collected will pose legal ramifications for Kudler. Are we as an organization going to implement security controls to protect the consumer’s credit information, such as, credit card numbers, customer name and billing address? Are we going to utilize the purchase cycle data to analyze the habits of our consumers to market more products? Are we going to sell any of this information to marketing companies to help us to conduct ad campaigns for Kudler Fine Foods? Second, how do we deal with the ethical challenges that come with a Frequent Shopper Program, such as, Kickbacks?
Kudler Fine Foods Audit Proposal ACC/542 Kudler Fine Foods Audit Proposal Management of Kudler Fine Foods has requested the proposed audit schedules which will be discussed within this report. Distinguishing between the different types of audits to be used for each process will be defined, recommending the process most appropriate for each process and explaining how the audit will be performed and conducted, will each be explained and thoroughly discussed for management at Kudler Fine Foods. Events potentially having prevent reliance on auditing within the computer will also be a part of the audit schedules that have been requested. Providing the details mentioned will enable management to fully understand that process that will be taking
Frequent Shopper Program (By) (school) Introduction *Legal Issues*, Kudler Fine Foods faces many issues with the installation of the frequent shopper program. The first issue is that of a legal stand point is that the collection and use of customer data could compromise the customer’s individual privacy. Policies will need to be established to eliminate this risk. According to the Food Marketing Institute a written privacy policy needs to be established to provide the customers with the reassurance that their private data will be protected. (2000) This privacy policy will incorporate the following: Notice- Customers will be informed of how the data will be used.
Therefore in the context of the project Competitive Intelligence will help Kudler Fine Foods to identify the future happenings and to take preventive measures accordingly. This will also help the company to evaluate the possible risks and prospects related to the company in the near
The Department of Agriculture and Food carries out monitoring to ensure compliance and correct use of the logo by the food industry. This includes regular random checks at both the retail and manufacturing level. They have to undergo certain test and fit certain criteria’s to allow them the use of this brand. Businesses must apply to the Department of Agriculture and Food, Western Australia to use the logo; they must also meet all of the criteria before being registered. Depending on the type of product also impacts on whether or not certain companies can use the Buy West Eat Best logo.
Magazine Training Ryan Smith University of LaVerne 04/25/2014 Abstract Magazine training is the training required for the animal in an experiment to become familiar with the mechanism which delivers the reinforcer in operant conditioning. In this experiment, Sniffy is trained to associate the sound of the magazine (the food delivery device) with the actual food. This will help Sniffy to associate between the sound of the food pellet-dispensing mechanism and the fact that a pellet of food is available. Introduction Operant conditioning is run by a series of rewards, punishments, and reinforcements; both positive and negative. What is used to train Sniffy is positive reinforcements.
I took character, obligation, result, and equity and put them into an order from the most closely aligned to the least closely aligned to my value. The summary of my paper will show how ethical decisions-making involves two components-awareness articulation and application. It also provides the values that the management team should place on organization such as Kudler Find Foods Chain; management style, hiring and promotion practices and customer service. Personal Values The William’s Institute for Ethics and Management self-assessment result shows that I am most closely aligned with “result” and least closely aligned with “equity.” After carefully reviewing