Audit and Soups Inc. Essay

In order for evidence to be properly authenticated, “the trial judge must determine that there is proof from which a reasonable juror could find that the evidence is what the proponent claims it to be.” Sublet v. State, 442 Md. 632, 638 (2015). Indeed, the purpose of Md. Rule 5-901 is to ensure that the evidence’s proponent has satisfied a burden of production sufficient to permit a reasonable fact finder to conclude the evidence is what its proponent claims it to be. The standard for authenticity, however, is

Evidence integrity demonstrates that evidence has been handled correctly, honestly and responsibly. Therefore, evidence integrity is the protection of potential evidence from the perception of evidence being lost, substituted, contaminated, deteriorated or tempered with to ensure its prevented from being introduced into the area in question (Sutton et al.

The total Accounts Receivable balance in the records of $4,752,257.70 was verified by setting a filter of

Over the last several weeks, there have been several recommendations made to update and replace the current software of Kudler Fine Foods IT audit systems. These recommendations have been made in hopes of making the company more efficient and profitable. According to most recent research, there are several audit systems that seem to best suit all audit functions of Kudler Fine Foods. Having said that, it is important that Kudler’s management consider the legitimacy of data and integrity within their auditing system. This analysis describes how Kudler Fine Foods is able to benefit from the use of new audit software. It also explains how the Computer Assisted Auditing Techniques confirms the company’s system data integrity.

kept in a fashion which maintains the nature of the evidence handled in a fashion which allows no doubt that the evidence could not have been accidentally or deliberately altered or substituted that is, the evidence presented for the proof is the exact evidence

The assertions that are relevant to line item two are existence, accuracy, and possibly cutoff. Existence (AU-C 315.A114 b.i) because Wally’s wants the bank to confirm that the asset of cash is in fact still in the account. Accuracy (AU-C 315.A114 a.iii) because Wally’s wants the bank to confirm the amount in the account so that they can accurately reflects the balance in their system. Cutoff (AU-C 315.A114 a.ii), because Wally’s is asking for confirmation at year end, December 31st.

This second method is a scientific or systematic approach method in analyzing evidence. However, this method is not use in a civil hearing or a court of law. In conclusion, the course provided many concepts that can be used or introduce in a case-by-case analysis. The one point that is common throughout the course readings is the extraction of fact from hearsay when determining the integrity of evidence presented in court or civil

Electronically maintain BMV computer servers are handled by an outside agency called Indiana Office of Technology (IOT). We currently do not have a contract with the right to audit and there is significant pressure not to audit other agencies as it has been indicated outside our jurisdiction. A meeting was held to determine if any of the process was handled by the BMV which would create internal risk or if all risks belong to IOT thus are not auditable by the BMV internal audit. It was determined that all the risks belong to IOT. The primary function of IOT is the set up servers and provide maintenance to those servers (updates to windows and etc.). Currently, over 300 servers are provided to the BMV by IOT (many of these are virtual servers).

* Level of completion of the transaction at the balance sheet date can be assessed;

To review the consolidated financial statements and reasonably make sure they are free from material

2. Identify the procedures and sources of information auditors can use to obtain knowledge of a client’s business and industry.

To enhance the perceived value of financial report audits, the IAASB has set out the public issuance of Key Audit Matters (KAM) or audit commentaries in the Proposed New Audit Report. Although some investors have expressed receptiveness to this proposal, reactions from auditors and their clients have been mixed. I personally believe that there are merits to the disclosure of KAM given the auditor’s strong understanding of the entity’s business, however it is debatable whether the benefits outweigh the costs of auditors potentially overstepping independence requirements and clients risking to face increased audit fees.

Organizations produce financial statements that give data about their money related position and execution. This data is utilized by an extensive variety of partners (e.g., financial specialists) in settling on financial choices. Regularly, those that possess an organization, the shareholders, are not those that oversee it. In this way, the proprietors of these organizations (and different partners, for example, banks, suppliers, and clients) take solace from the autonomous affirmation that the monetary explanations genuinely present, in every single material regard, the organization 's money related position and execution.

The covered banks’ audits were required by statue. Auditors were required to report on the banks financial statements. The general expectation was that financial statements with unqualified reports gave reassurance regarding the financial health of the banks.

side of the balance sheet. Various techniques are used to examine the mismatch in a bank’s