ADMS 4515 Lecture Notes - Lecture 10: Financial Statement

• School: York University
• Department: Administrative Studies
• Course: ADMS 4515
• Professor: Anastasios Chatzidimos

Document Summary

Cae should accept proposed ce based on the potential to add value, improve management of risks and to improve the operations. 2 parties = ia (offering advise) + customer (seeking advise) Assurance engagements have 3 parties = ia + auditee + user. Financial verify accuracy of records, cost analysis, risk assessments, support external auditors, due diligence of pending acquisitions, divestures and restructuring. Operational analyzing processes, suggesting improvements, customer satisfaction surveys, evaluating products or services, benchmarking, confirmation of compliance. Safeguarding assets comparison of records to physical assets, reconciliation of independent reports to corporate reports. Computer related review of computer control activities, evaluation of application control activities, conducting investigations into alleged fraud situations. Consulting can be advisory, training, facilitative or blended engagements. Need expertise in process design, strategic thinking, creative problem solving. Sources of consulting engagements: annual internal audit plan, requests from management, new or changing conditions.