Audit ch01 slides

Audit ch01 slides - AUDITING BU 477 Carolyn MacTavish, CA,...

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AUDITING BU 477 Carolyn MacTavish, CA, MAcc, BAcc Slide 1
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Slide 2 Chapter 1 Overview About me About you Expectations About this course Workload & note taking Group work & participation Be prepared for class!!! About the class Eating/Drinking Timeliness Syllabus
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Slide 3 Chapter 1 Introduction Accounting attempts to record and summarize a company’s transactions into financial statements for the benefit of users. Important decisions are made on the basis of accounting information.
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Slide 4 Chapter 1 Demand for Reliable Information Preparation of financial information by management creates a conflict of interest between users of financial information and management. So what?
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Slide 5 Chapter 1 Some Questions What is an audit? Why is it important? Who can perform an audit? What kinds of audits are there?
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Slide 6 Chapter 1 What is an audit?
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Slide 7 Chapter 1 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 the assertions and established criteria and communicating the results to interested parties.
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Slide 8 Chapter 1 Why is it important?
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Slide 9 Chapter 1 Who can perform an audit? How can we trust the financial information?
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Slide 10 Chapter 1 Auditor – The auditor serves as an independent intermediary who lends credibility to the financial information.
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This note was uploaded on 12/18/2011 for the course BUSINESS 450 taught by Professor Smith during the Winter '10 term at Ryerson.

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Audit ch01 slides - AUDITING BU 477 Carolyn MacTavish, CA,...

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