Chap 1 Notes_Part_2

Chap 1 Notes_Part_2 - Thinking outside the box (creativity,...

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Expectations Career Management Skills and Abilities: Mentoring and Evaluating subordinates and their performance Organizational skills, stress and time management, budgeting,scheduling Work/Life balance Flexibility, managing change, tolerance, handling diversity and multicultural situations Tolerance for a diverse workforce and new ideas, flexibility Initiative: Acquiring clients, surviving in the audit marketplace Judgment – Critical Thinking Perspective: understanding the environment and its history (base rates), what is plausible, reasonable assumptions before making a judgment Perspective through experiential learning: Videos depicting auditors interacting with client, audit team, facing stress, personal and professional challenges and sacrifices Judgment decision aids, judgment frameworks Ethical frameworks, sensitivity to ethical issues, matters of character
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Unformatted text preview: Thinking outside the box (creativity, innovation) Coping with ambiguous, complex situations without a clear solution and taking an action What is an Audit? What are the essential elements of all audits? Does it require a person? Is judgment required? How many people are required? Must it involve only quantifiable information relating to economic events? Must there be a reporting relationship? A Comprehensive Definition of Auditing Auditing is a systematic process of objectively obtaining and evaluating evidence regarding assertions about economic actions and events to ascertain the degree of correspondence between those assertion and established criteria and communicating the results to interested users. ASOBAC 1973...
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This note was uploaded on 10/05/2011 for the course ACG 5637 taught by Professor Monikacaushoulli during the Fall '08 term at University of Florida.

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Chap 1 Notes_Part_2 - Thinking outside the box (creativity,...

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