AC410-01_Unit_8_Project_HallHawkins - AC41001Unit8Project...

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Stephanie HallHawkins AC410-01 Unit 8 Project 14-39 a.  Related-entity transactions occur between a company and another company that  the first company has part ownership of like a joint venture. b. First get a list of all related parties and then determine what if any transactions  occurred between them and the company for that year. Second examine all  unusual transactions and be on the lookout for the possibility that any of them  occurred with a related-entity, like a family member. c. i. I would first go over all expense requests made by the Tyco CEO and then find  out who approved the reimbursements.  Audit software would help me identify  any unusual transactions that might have occurred with an outside vendor or with  a related-entity. ii. I would say yes, because it is definitely the auditor’s responsibility to identify all  related-entity transactions.
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This note was uploaded on 08/06/2011 for the course ACCT 410 taught by Professor David during the Spring '10 term at Kaplan University.

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AC410-01_Unit_8_Project_HallHawkins - AC41001Unit8Project...

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