Alexander grant 1981 149 consumer to consumer c2c 339

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Consolidata Services v. Alexander Grant (1981) , 149 consumer to consumer (C2C), 339 Continental Welding (1969) , 146 continuing professional education (CPE), 120 continuity schedule, 451 control activities. See internal control control environment business risk factors, 269‡271 elements of, 250 framework for, 249 fraud deterrents, 705‡706 fraud prevention, 697‡698 internal control, 248‡251 post-Enron world, 251 tone at the top, 250‡251 control evaluation. See internal control assessment control objectives, 231‡233 company-level, 382 derivatives, 562 finance and investment, 560, 562 internal control assessment, 323‡325 payroll process, 530‡531, 530‡532 production process, 519‡520 purchases, payables, and payments, 476 revenues, receivables, and receipts, 431 control procedures derivatives, 562‡564 finance and investment, 559 fraud prevention, 697‡698 payroll process, 529, 530 production process, 511, 518 purchases, payables, and payments, 474 revenues, receivables, and receipts, 429‡430 control risk application case, 353‡355 assessment, 337‡346 assessment, reasons for, 317‡320 audit planning, 45‡46 audit risk assessment, 217‡219 tests of controls, 347‡348 control risk assessment, 337‡346. See also internal control assessment accounting estimates, 559‡561 assessing too high/low, 385 auditor reporting responsibility, 348‡350 bridge working papers, 338 derivatives, 562‡564 finance and investment, 559‡561 IT-based systems, 339‡345 manual systems, 344‡345 notes and loans payable, 561 overreliance, 385 payroll process, 529‡532 process, 317 production process, 517‡521 purchases, payables, and payments, 473‡475 reasonable assurance, 350‡352 reasons for, 317‡319 revenues, receivables, and receipts, 428‡433 risk conclusions, 345‡346 strengths, 337 test of controls for, 375‡388 underreliance, 385 weaknesses, 337 control system flow charts, 332, 334‡335 control testing. See also tests of controls audit process, 46‡47 finance and investment, 561‡562 payroll process, 530‡532 production process, 517‡521 purchases, payables, and payments, 475‡479 reasonable assurance, 351‡352 revenues, receivables, and receipts, 430‡432 versus substantive test, 47 controlled access, 330 corporate governance, 14, 614‡616 COSO, 229 cost of goods sold, 511 CPAB proportionate liability, 154 public regulation, 120‡123 quality control standards, 55‡56 quality inspections, 57 role of, 12‡13, 23 credibility, 69 credit check files, 427 Cribb, Robert, 245‡246 Crispino, Len, 151 Criteria of Control Committee (COCO), 218 critical thinking. See also professional skepticism application case, 125, 403‡404 audit risk and accounting risk, 271‡273 code of conduct, 101 defined, 6 ethics, and, 97‡99 framework for, 97‡98 GAAS reporting standards, 40‡41 independence, 106 professional judgment, 6 reservations, 84 CSA, 154, 646 CSQC-1, 54 current file, 298 custody cash receipts and cash balances, 425 finance and investment, 555, 557 payroll process, 524 production process, 514‡515 purchases, payables, and payments, 470 revenue and accounts receivable, 424 customer to government (C2G), 339 cutoff assertion, 200 cutoff bank statement, 443 cutoff error, 476 D date, unqualified report, 37 Decker, Susan, 182 defalcation, 674 deferred credits, 567 degree of responsibility, 40 Deloitte & Touche, 2, 18, 146, 174 deontological (Kantian) ethics, 96 derivatives, 552‡553, 562‡564 description of the audit, unqualified report, 37 detection risk, 221‡222, 389 direct reporting engagements, 7, 48‡49, 651 direct-effect illegal acts, 675, 683‡684 discipline. See regulation disclaimer of opinion, 40, 77, 78
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