Many people use ‘corruption’ and ‘fraud’ interchangeably. The present paper asserts that these two terms need to be used distinctly. ‘Corruption’ takes place in the form of bribery, kickbacks, commissions, or other benefits without leaving any trace in the official record. In their professional work,...
Auditor has no responsibility for the preparation and fair presentation of financial statements as it lies with the directors of a company. However, an auditor is responsible for obtaining reasonable assurance that the financial statements taken as a whole are free from material misstatement, whether...
In recent years, risk taking and its management has taken on a new dimension. This is why business owners are starting to have a sound risk management strategy, something that the board are responsible for (IOD, 2009: 73–76), but that internal auditors need to ensure...
Guidelines for the independent audit in observing inventories are included in the following paragraphs. This selection relates only to observation of inventories and does not deal with other important auditing procedures which generally are required for the independent auditor to satisfy himself as to these...
Quality assurance in the National Health Service (NHS) is made up of three components: patient safety, patient experience and clinical effectiveness. Patient safety is top priority for all health care systems but human error can always occur (NHS Corby Clinical Commissioning Group, 2015). In 2016,...
Undertaking an invaluable work experience placement at Chartered Accountant UHY Hacker Young ignited my desire to study a finance related degree at university. The opportunity gave me an insight into the different aspects of the field. For example, I discovered I was especially interested in...
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