Using the Work of Internal Auditors
Paperback ISBN: 1940235367
As a result of its Clarity Project, the Auditing Standards Board (ASB) has issued Statement on Auditing Standards (SAS) No. 128,?Using the Work of Internal Auditors, to supersede SAS No. 65,?The Auditor's Consideration of the Internal Audit Function in an Audit of Financial Statements?(AICPA,?Professional Standards, AU sec. 322 and AU-C sec. 610), and amend: - SAS No. 122,?Statements on Auditing Standards: Clarification and Recodification, section 315,?Understanding the Entity and Its Environment and Assessing the Risks of Material Misstatement?(AICPA,?Professional Standards, AU-C sec. 315); - Various other sections in SAS No. 122 (AICPA,?Professional Standards, AU-C secs. 200, 220, 230, 240, 260, 265, 300, 402, 500, 550, and 600); and - Statement on Quality Control Standards No. 8,?A Firm’s System of Quality Control?(Redrafted) (AICPA,?Professional Standards, QC sec. 10). SAS No. 128 addresses the external auditor’s responsibilities when using the work of internal auditors if it includes (a) using the work of the internal audit function in obtaining audit evidence and (b) using internal auditors to provide direct assistance under the direction, supervision, and review of the external auditor. Consistent with International Standard on Auditing (ISA) 610 (Revised 2013), SAS No. 128 introduces the concept of a?systematic and disciplined approach, which is not included in SAS No. 65. Paragraph 13 of SAS No. 128 would require, among other things, as a prerequisite to being able to use the work of the internal audit function, that the external auditor evaluate the application by the internal audit function of a?systematic and disciplined approach, including quality control. Paragraphs A12–A14 of SAS No. 128 provide application guidance with regard to the application of a systematic and disciplined approach. The ASB believes that relative to SAS No. 65, this requirement represents an additional and explicit evaluation that the external auditor would need to perform to conclude on the appropriateness of using the work of internal auditors.
Warren Buffett and the Interpretation of Financial Statements
The Search for the Company with a Durable Competitive Advantage
1st Edition Hardcover ISBN: 1416573186
Explains the business strategist's perspectives on reading financial statements, in an anedotal guide that covers such topics as interpreting balance sheets, the roles of depreciation and amortization on stock valuations, and estimating safe debt amounts.
Wiley GAAP for Governments 2016
Interpretation and Application of Generally Accepted Accounting Principles for State and Local Governments
Paperback ISBN: 1119107563
The essential reference for governmental GAAP application Wiley GAAP for Governments 2016 provides the latest information on GAAP, with coverage designed specifically for government entities. With a focus on the practical rather than the academic, this book provides insightful, up to date implementation information and explanations of the important developments in governmental GAAP that have occurred in the past year. Exclusive coverage includes school districts, public authorities, and individual pension plans financial statements, with a disclosure checklist that helps preparers ensure compliance. Visual aids help facilitate the reader's understanding of the material, providing a comprehensive guide to financial reporting for governments at the state and local level. This reliable guide is an industry favourite for its accessibility, completeness, and relevance, helping readers achieve and maintain compliance with minimal burden. Governmental accounting standards are continuously being released, growing in complexity with each iteration. Wiley GAAP for Governments is updated annually to provide the most up-to-date information available, with thorough explanations and expert implementation advice. - Get up to speed on the newest accounting pronouncements - Understand how GAAP applies to government bodies and pension plans - Refer to disclosure checklists designed specifically for government entities - Study flowcharts, diagrams, and charts to gain a deeper understanding This user-friendly guide is organized for easy navigation, and designed to help preparers quickly find, understand, and apply the information they need. Expert guidance through the increasing complexity of preparation and implementation of relevant changes is what makes Wiley GAAP for Governments 2016 the reference financial professionals keep on their desks rather than on their bookshelves.
Wiley Interpretation and Application of International Financial Reporting Standards 2016
Paperback ISBN: 1119104416
The International Accounting Standards Board continues to make strides in achieving global convergence of accounting standards, which can be used to bring about uniformity in financial reporting around the world. Uniform reporting reduces the costs of preparing financial statements for multinational companies and facilitates the jobs of investment analysts, investors, and others in assessing business results. PKF International brings together the expertise of their global team to create an indispensable guide to the interpretation and application of IFRS.
Xero in Easy Steps
Making Business Accounting Simple
Paperback ISBN: 1840787767
Xero in easy steps uses detailed images and easy-to-follow instructions, showing the user how to quickly get to grips with the new features of this popular accounts software. Xero in easy steps uses detailed images and easy-to-follow instructions to guide the reader through setting up and using Xero accounting software. It is ideal for anyone using Xero for the first time, or for those needing to learn the latest features. Xero is cloud-based accounting software for small and medium-sized businesses. It is a subscription service, based on the type and number of company entities managed by the subscriber. Suitable for use by businesses worldwide, Xero’s products are used in over 180 different countries.