Importance Of Audit Evidence Accounting Essay

Importance Of Audit Evidence Accounting Essay According to Companies Act 1965 Section 174, auditor should perform the following duties, Statutory Duties. Auditor should examine and form an opinion whether the financial statements compliance the financial reporting standards of Malaysia and the Companies Act 1965. Duty to carry out audit. Auditor should examine and form an opinion whether the financial statements give a true and fair view of the financial position of the Company as of the financial year end and of its financial performance and cash flows of the year end. Duty to report to appropriate management. Auditor should report the accounting and other records and the registers required by the Companies Act to be kept by the company have been properly kept in accordance with the provisions of the Act. Duty to be independent. Auditor is under a duty to exercise the appropriate standard of care to shareholders and outsiders. Duty to use reasonable care and skill. Auditor should obtain reasonable assurance that the financial statements are free from material misstatements. (2) The auditor must plan the audit so as to enable him/her to detect all misstatements. Discuss. The purpose of planning stage is plan the audit so that it will be performed in an effective manner. During the planning stage, auditor should design and perform the audit planning to detect the potential threat that may be occurred and also limited the audit risk to a lower level. Auditor will get the knowledge of the clients business, auditor able to identify the potential threat that may be occurred. The planning stage will be emphasis on the material misstatement based on the professional judgement but not absolute detect all the misstatement such as immaterial misstatement will not be concern. (3) Explain the steps to be taken by the auditor if there are reasons to believe that there are (i) errors and (ii) frauds. According to SAS 110, the auditors shall indicates that fraud or error that exist by obtaining an understanding of the nature of the event and the circumstances, and sufficient other information to evaluate the possible effect on the financial statements. If the auditors believe that the indicated fraud or error could have a material effect on the financial statements, they should perform appropriate modified or additional procedures. Where there is a significant error or fraud, the auditor should consider the necessity for a disclosure of the error or fraud in financial statements, and report to the relevance third party (management level). If adequate disclosure is not made, the necessity for a suitable disclosure in his report so called qualified audit report. (4) What is an audit engagement letter? What steps should be taken by the auditor after receiving the audit engagement letter? According to standard, audit engagement letter refers to a written contract between accounting firm and the client. Its purpose is to confirm the relationship between the client engaging the auditor and the accounting firm accepting the audit engagement and to define matters such as the objectives of the engagement, the scope of the audit, the responsibilities and duties of each party etc. The audit engagement letter has statutory binding force. After receiving audit engagement letter, there will be an interview or opening conference between engagement parties and audit firm. During the meeting, auditee is asked about the system to be reviewed available resources and other relevance resource. The auditor may be required to meet the person in charge those relevance resources. After getting the required information, auditor will perform a general overview on it and review the internal control of the auditee in order to determine the audit risk that may be occurred. (5) What are the purposes of the audit working papers? 1. To provide a basis for planning the audit. The auditor may use reference information from the previous year in order to plan this years audit, such as the evaluation of internal control, the time budget, etc. 2. To provide a record of the evidence accumulated and the results of the tests. This is the primary means of documenting that an adequate audit was performed. 3. To provide data for deciding the proper type of audit report. Data are used in determining the scope of the audit and the fairness with which the financial statements are stated. 4. To provide a basis for review by supervisors and partners. These individuals use the audit documentation to evaluate whether sufficient appropriate evidence was accumulated to justify the audit report. Audit documentation is used for several purposes, both during the audit and after the audit is completed. One of the uses is the review by more experienced personnel. A second is for planning the subsequent year audit. A third is to demonstrate that the auditor has accumulated sufficient appropriate evidence if there is a need to defend the audit at a later date. For these uses, it is important that the audit documentation provide sufficient information so that the person reviewing an audit schedule knows the name of the client, contents of the audit schedule, period covered, who prepared the audit schedule, when it was prepared, and how it ties into the rest of the audit files with an index code. (6) Describe the different types of information that are kept in the current file. Current audit file include following resources: Audit plan, report and audit programmes copies Clearance the problems and confusion during the time of audit work such as journal entries and minutes of meetings. Copies of annual records such as trade account, trial balance and profit and loss account and balance sheet Bank reconciliation statement Minutes of meetings Current financial statements Working papers supporting account Paper of calculation of tax bonus. List of lost proofs Paper regarding stock evaluation (7) State the nature and the importance of audit evidence. According to ISA, there is nine type of audit evidence which include physical examination, confirmation, documentation, analytical procedures, inquiries, scanning, recalculation, reperformance and observation. The nature of audit evidences includes invoices, contracts, and worksheets, general and subsidiary ledger and so on. Audit evidence is important as it provides the auditor with the information regarding the potential threat or weakness that may be occurred in the clients financial statements. Audit evidence is useful as it provides the auditor with some degree of competent evidential support for the expression of an audit opinion. It facilitates the completion of audit programme scheduled and undertaken. (8) According to ISA 500, what type of evidence is the auditor required to collect? According to ISA 500, auditor required to collect sufficient and appropriate audit evidence in order to draw reasonable conclusions on which to base the audit opinion. Sufficiency and appropriateness are interrelated and apply to audit evidence obtained from both tests of controls and substantive tests. Sufficiency is a measure of the quantity of evidence and it refers to sample size and items to select. Higher quality evidence results in a lower quantity of audit evidence. Appropriateness is a measure of the relevance and reliability of evidence, or the degree to which evidence can be considered believable or worthy of trust. Appropriateness relates to the audit procedures selected, including the timing of when those procedures are performed.

About a Boy film review

Will Freeman (Hugh Grant; – Bridget Jones's Diary) is enjoying his rich, meaningless life, living off of his dad's Christmas song as a bachelor who lives in London. He is a lazy, self-centred man who thinks about no-one but himself. Will is a player; he joins a single parent group called SPAT (Single Parents Alone Together). He goes to these meetings and ends up going on a date. She has to bring her best friend's son called Marcus Brewer (Nicholas Hoult). When they get back to Marcus's house they find Marcus's mother; Fiona (Toni Collete), unconscious on a sofa after a suicide attempt. Fiona recovers and Marcus realises two people is not enough. Marcus calls up Will and arranges them to go to dinner. Marcus starts to follow Will and finds out his doesn't have a child. Marcus starts coming to Wills; watching television and they become friends. Marcus and Fiona spend Christmas and New Year's with Will. At the SPAT group Will meets another woman called Rachel. She believes Marcus is Will's son and he plays along. He then realises where he went wrong and he tells her and he realises what he is. Fiona starts to cry before Marcus goes to school and he worries for her, and before she had told him, his voice makes her happy. He decides to sing at a school concert to make her happy. The next part is for you to find out. Will invites some people around his flat for Christmas, and Rachel is there. This film was directed by Paul and Chris Weisz; they directed American Pie. About a Boy is quite similar to that film. Also it was written by Nick Hornby who also wrote the book High Fidelity. He has turned lots of books into films and has had his novel published in 1998: Fever Pitch. The music was written and performed by Badly Drawn Boy, Damon Gough, Nick Hornby asked him to provide music for the entire movie. Hornby believes his music had the power to enchant and change people. The main themes of this movie are; Growing up (changing), Consequences of suicide, Family & Friends (Love), Responsibilities, Relationships, Truth & Honesty and Single-parents. The scene that really stood in my mind is when Marcus commits social suicide where he sings ‘Killing Me Softly' for his Mum to make her happy. Will convinces Fiona to go and watch, and Will drives her up to the concert. Marcus had paid a boy in his school to play with him, but he wouldn't play so Marcus goes out on stage himself; Can Will Stop Marcus from singing? The audience claps Marcus onto the stage and then he starts to sing and they laugh at his face is shown by a close-up on him and zooms out changing from time to time. Will comes onstage playing a guitar and plays backup. When they finished Will carried on playing the guitar expressing his, weird but funny, feelings. Rachel notices Will is not just thinking about himself for a change. This compares with the theme of changing people as Will used to think about nobody but himself but now he thinks about helping Marcus. This gives the effect that people can change if they really try to. If you wanted to make the film better, I feel that you wouldn't have to change that much. The thing I would change is the music should be varied, as the same style of music and get repetitive. Most films do not always have the same genre of music in. Other than that, I do not have any other criticisms. This is a really brilliant film and I could watch it over and over again.

The History and Invention of Pottery

Of all the kinds of artifacts which may be found at archaeological sites, ceramics--objects made from fired clay--are surely one of the most useful. Ceramic artifacts are extremely durable and may last thousands of years virtually unchanged from the date of manufacture. And, ceramic artifacts, unlike stone tools, are completely person-made, shaped of clay and purposely fired. Clay figurines are known from the earliest human occupations; but clay vessels, pottery vessels used for storing, cooking and serving food, and carrying water were first manufactured in China at least 20,000 years ago. Yuchanyan and Xianrendong Caves Recently redated ceramic sherds from the Paleolithic/Neolithic cave site of Xianrendong in the Yangtse Basin of central China in Jiangxi province hold the earliest established dates, at 19,200-20,900 cal BP years ago. These pots were bag-shaped and coarse-pasted, made of local clay with inclusions of quartz and feldspar, with plain or simply decorated walls. The second oldest pottery in the world is from Hunan Province, at the karst cave of Yuchanyan. In sediments dated between 15,430 and 18,300 calendar years before the present (cal BP) were found sherds from at least two pots. One was partially constructed, and it was a wide-mouthed jar with a pointed bottom that looks very much like the Incipient Jomon pot illustrated in the photograph and about 5,000 years younger. The Yuchanyan sherds are thick (up to 2 cm) and coarsely pasted, and decorated with cord-marks on the interior and exterior walls. The Kamino Site in Japan The next earliest sherds are from the Kamino site in southwestern Japan. This site has a stone tool assemblage which appears to classify it as late Paleolithic, called Pre-ceramic in Japanese archaeology to separate it from the Lower Paleolithic cultures of Europe and the mainland. At the Kamino site in addition to a handful of potsherds were found micro blades, wedge-shaped microcores, spearheads and other artifacts similar to assemblages at Pre-ceramic sites in Japan dated between 14,000 and 16,000 years before the present (BP). This layer is stratigraphically below a securely dated Initial Jomon culture occupation of 12,000 BP. The ceramic sherds are not decorated and are very small and fragmentary. Recent thermoluminescence dating of the sherds themselves returned a 13,000-12,000 BP date. Jomon Culture Sites Ceramic sherds are also found, also in small quantities, but with a bean-impression decoration, in a half-dozen sites of the Mikoshiba-Chojukado sites of southwestern Japan, also dated to the late Pre-ceramic period. These pots are bag-shaped but somewhat pointed at the bottom, and sites with these sherds include the Odaiyamamoto and Ushirono sites, and Senpukuji Cave. Like those of the Kamino site, these sherds are also quite rare, suggesting that although the technology was known to the Late Pre-ceramic cultures, it just was not terribly useful to their nomadic lifestyle. In contrast, ceramics were very useful indeed to the Jomon peoples. In Japanese, the word Jomon means cord-mark, as in cord-marked decoration on pottery. The Jomon tradition is the name given to hunter-gatherer cultures in Japan from about 13,000 to 2500 BP, when migrating populations from the mainland brought full-time wet rice agriculture. For the entire ten millennia, the Jomon peoples used ceramic vessels for storage and cooking. Incipient Jomon ceramics are identified by patterns of lines applied onto a bag-shaped vessel. Later, as on the mainland, highly decorated vessels were also manufactured by the Jomon peoples. By 10,000 BP, the use of ceramics is found throughout mainland China, and by 5,000 BP ceramic vessels are found throughout the world, both independently invented in the Americas or spread by diffusion into the middle eastern Neolithic cultures. Porcelain and High-Fired Ceramics The first high-fired glazed ceramics were produced in China, during the  Shang  (1700-1027 BC) dynasty period. At sites such as Yinxu and Erligang, high-fired ceramics appear in the 13th-17th centuries BC. These pots were made from a local clay, washed with wood ash and fired in kilns to temperatures of between 1200 and 1225 degrees Centigrade to produce a high fired lime-based glaze. Shang and Zhou dynasty potters continued to refine the technique, testing different clays and washes, eventually leading to the development of true porcelain. See Yin, Rehren and Zheng 2011. By the Tang Dynasty (AD 618-907), the first mass pottery manufacturing kilns were begun at the imperial  Jingdezhen  site, and the beginning of export trade of Chinese porcelain to the rest of the world opened up.   Sources Boaretto E, Wu X, Yuan J, Bar-Yosef O, Chu V, Pan Y, Liu K, Cohen D, Jiao T, Li S et al. 2009. Radiocarbon dating of charcoal and bone collagen associated with early pottery at Yuchanyan Cave, Hunan Province, China. Proceedings of the National Academy of Sciences 106(24):9595-9600. Chi Z, and Hung H-C. 2008. The Neolithic of Southern China–Origin, Development, and Dispersal. Asian Perspectives 47(2):299-329. Cui J, Rehren T, Lei Y, Cheng X, Jiang J, and Wu X. 2010. Western technical traditions of pottery making in Tang Dynasty China: chemical evidence from the Liquanfang Kiln site, Xian city. Journal of Archaeological Science 37(7):1502-1509. Cui JF, Lei Y, Jin ZB, Huang BL, and Wu XH. 2009. Lead Isotope Analysis Of Tang Sancai Pottery Glazes From Gongyi Kiln, Henan Province And Huangbao Kiln, Shaanxi Province. Archaeometry 52(4):597-604. Demeter F, Sayavongkhamdy T, Patole-Edoumba E, Coupey A-S, Bacon A-M, De Vos J, Tougard C, Bouasisengpaseuth B, Sichanthongtip P, and Duringer P. 2009. Tam Hang Rockshelter: Preliminary Study of a Prehistoric Site in Northern Laos. Asian Perspectives 48(2):291-308. Liu L, Chen X, and Li B. 2007. Non-state crafts in the early Chinese state: an archaeological view from the Erlitou hinterland. Bulletin of the Indo-Pacific Prehistory Association 27:93-102. Lu TL-D. 2011. Early pottery in south China. Asian Perspectives 49(1):1-42. Mà ©ry S, Anderson P, Inizan M-L, Lechevallier, Monique, and Pelegrin J. 2007. A pottery workshop with flint tools on blades knapped with copper at Nausharo (Indus Journal of Archaeological Science 34:1098-1116.civilisation, ca. 2500 BC). Prendergast ME, Yuan J, and Bar-Yosef O. 2009. Resource intensification in the Late Upper Paleolithic: a view from southern China. Journal of Archaeological Science 36(4):1027-1037. Shennan SJ, and Wilkinson JR. 2001. Ceramic Style Change and Neutral Evolution: A Case Study from Neolithic Europe. American Antiquity 66(4):5477-5594. Wang W-M, Ding J-L, Shu J-W, and Chen W. 2010. Exploration of early rice farming in China. Quaternary International 227(1):22-28. Yang X-Y, Kadereit A, Wagner GA, Wagner I, and Zhang J-Z. 2005. TL and IRSL dating of Jiahu relics and sediments: clue of 7th millennium BC civilization in central China. Journal of Archaeological Science 32(7):1045-1051. Yin M, Rehren T, and Zheng J. 2011. The earliest high-fired glazed ceramics in China: the composition of the proto-porcelain from Zhejiang during the Shang and Zhou periods (c. 1700-221 BC). Journal of Archaeological Science 38(9):2352-2365.

Modernism In Works of T.S. Elliot And James Joyce Essay

Introduction: Modernism is a word that is generally used to understand new and distinctive features in the subjects, forms, concepts and styles of literature and the other arts in the early decades of the present century, but especially after World War I. (Abrams 167) More often than not Modernism engages in deliberate and radical break (Abrams 167) with some of the more traditional foundation of art and culture. Peter Childs in his book Modernism remarks Modernism has almost universally been considered a literature of not just change but crisis (p. 14, Unit Reader p. 12). This essay will discuss and assess the value of this statement through the parts of the poem The Waste Land as well as The Love Song of J. Alfred†¦show more content†¦The Waste Land talks about the crisis equipped by modern culture especially after the First World War that had wreak havoc on Europe. The lines Ââ€" That corpse you planted last year in your garden, Has it begun to sprout? Will it bloom this year? Or has the sudden frost disturbed its bed? Gives the vive that the twentieth century England had a culture that changed (decayed and withered) but will not expire, and people were forced to live with reminders of all its glory and reparation. Eliot, in this poem, had used a rather difficult and confusing style which is there to provide the readers with more than just sheer frustration. He intended to draw a realistic portrait of life of the world of twentieth century which was very confusing but nonetheless moving and changing. The Waste Land Section II: A Game of Chess: The title of this section takes was taken from the two plays written by Thomas Middleton. This section focuses on showing the two opposite sides of the society, the higher class and the lower class. The form of the first part of this section is in unrhymed iambic pentameter lines, or blank verse. When going through the section farther, the lines become all the more irregular which gives out the impression of things falling apart which can be referred to as distress of in some cases, crisis. The second scene of this section reduces the prospect thatShow MoreRelatedDisillusion, Defiance, and Discontent (1914-1946)780 Words   |  4 Pagesthe cyclone to go around our barn but it didn’t hear us.† -Carl Sandburg from The People, Yes Carl Sandburg was an American writer, best known for his poetry during modernism. The quote means people like to think they are in control and then something like this happens, and they realize that they re not. The themes of the work is implied not stated Timeline The most significant ten year period is from 1920 to 1930 because the biggest cultural changes happened during this period because itRead MoreA Brief History of English Literature1782 Words   |  8 PagesGermanic epic and the longest Old English poem; other great works include The Wanderer, The Battle of Maldon, and The Dream of the Rood. Notable prose includes the Anglo-Saxon Chronicle, a historical record begun about the time of King Alfred ´s reign (871-899) and continuing for more than three centuries. Authors: Caedmon (English poet), Cynewulf (English poet), Franciscus Junius, the Younger (European scholar) and John Gardner (American author) Works: Beowulf (Old English poem), Exeter Book (Old EnglishRead MoreThe Modernist Movement Of Literature2005 Words   |  9 Pagesinspiration from the real world and their own experiences. Every aspect of the world has its own influence from historical events to developments in psychological theory. The authors of the modernist era, such as William Faulkner, Virginia Woolf, T.S. Elliot, and James Joyce, experimented heavily with established laws of language and structure by modifying the narration of the story and breaking the plot into pieces for the reader to put together. In a way, the authors were rebelling against the old views of