8 Postulates for the Professional Accountant free essay sample

An audit has been defined as â€Å"an independent examination of, and expression of opinion on, the financial statements of an enterprise by a duly appointed auditor in pursuance of a relevant statutory or professional obligation†. Independent – an auditor is remote from the enterprise that he/she is reporting on. This independence is defined by law and professional practice. Opinion – an auditor gives an opinion. He does not certify or guarantee the financial statements as accurate or free from error or irregularity. Financial statements are themselves imprecise because they are based on judgements and conventions. It is a common misconception that auditors are employed primarily to detect or prevent fraud and error. Duly appointed auditor – an external auditor holds office because of legal rules contained Postulates of auditing Academics have attempted to codify certain underlying principles or postulates, which serve as the basis of auditing theory. A postulate is a concept that can be observed to be relevant to some course of study. We will write a custom essay sample on 8 Postulates for the Professional Accountant or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Certain postulates that underlie the practice of auditing have been identified:  ¦ Truth and fairness – the auditor is concerned that the financial statements under examination conform to law and best practice.  ¦ Independence – the auditor is independent through status and is truly objective in expression of opinion.  ¦ Evidence – an auditor arrives at his opinion through the systematic collection of evidential data on which his judgement is based.  ¦ Responsibility – the auditor does not prepare financial statements or guarantee their accuracy nor is he a business valuer. Alternatively small companies can choose voluntarily to undergo an annual audit. Practice Note PN 13 offers guidance to the auditors of small businesses. Many small businesses have uncomplicated activities and simple records, so an audit can easily be carried out. However, there may be only limited internal controls in operation, so the auditor may have to adopt a substantive vouching approach in the audit rather than relying on internal controls.

Ways to Create a Perfect Methodology Section

Ways to Create a Perfect Methodology Section Writing a Methodology Section of Your Dissertation You will not find too many people who love describing their methodology as part of their thesis or dissertation writing. It is quite difficult, so it comes as no surprise that most students fail to include the most important details of their experiments. As a result, they lose their marks. Some may even have their graduation delayed, until they have created a perfect methodology section. So, it is time to stop and think thoroughly. You are the one who conducted the experiment, and you know everything about it. You have been creative and proficient crafting your analysis and results sections, so why should you be worried about your methods? Unfortunately, the problem with most students is that they cannot simply describe what they have been doing to conduct their experiments. As such, the mere fact that they have done an experiment does not always mean that they can describe it. Besides, if you want other researchers to use your research design and check your results in the future, y ou will need to go to the very meat of your study. Ultimately, your methods section can become the critical point of your dissertation. The purpose of your methodology section is to describe, step by step, how you conducted your research. The more detailed you are the better are your chances to prove that the results of your experiment are valid and generalizable. If you are in a trouble, follow our recommendations and make it easier for your own self! Research Methods Begin with describing the research design you used in your study. You can use a qualitative, quantitative, or mixed design. Whatever design you choose, it will have implications for your whole experiment. Describe in Detail Try your best to incorporate rich details in your writing. You can try to break down the whole process into steps and strategies to make your description more convincing and relevant for the reader. Do not Hesitate to Explain! Apart from including much detail, your task is to explain the importance of these details for the reader. Also, do not forget that you must provide solid rationale to justify your choices. You will have to include evidence and reasons why you have selected quantitative, qualitative, or mixed designs. You will have to show that you have thoroughly selected your target and its size. Limitations Your readers expect that you will be honest and fair in your judgments. Thus, it is equally important to discuss the advantages and limitations of your research. What are the limitations of your methods and designs? How do these limitations impact your findings? How can the results of your research be generalizable to other settings? Can the limitations of the methods you have used reduce this generalizability in the future? Ethical Considerations Gone are the times when researchers could manipulate their subjects in any way imaginable to your reader. Today you must follow robust ethical guidelines to ensure that your research is acceptable and valid. Provide a thorough analysis of the ethical procedures you used to protect your research subjects. Convince your reader that you have not caused any harm to the people, who have agreed to participate in your experiment. Appendices You cannot reasonably do without appendices. Use them to include any information you believe is important but too burdensome to present it in the body of your dissertation. You may want to include survey and interview questions, raw data, and so on. Just be ready to excel in writing the methodology section of your dissertation! Free Dissertation Methodology Section to Read Many online essay writing sites promise their clients some extraordinary things Some say they can prepare dissertations for you in a few hours. 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Final 3 Essay Example | Topics and Well Written Essays - 1250 words

Final 3 - Essay Example If successfully done, money laundering permits the criminals to have control over their incomes and lead to give a lawful cover up for income source. Money laundering plays a basic role in the goals of the terrorist, drug trafficker, the planned criminal, the tax evader, the inside dealer, also as many people who eschew the type of notice from establishment that abrupt wealth comes about from unlawful activities (Haggart, B., 2001). How is money laundered? There are various techniques of money laundering. The technique of prohibited money import is best when introductory traces are disappeared in the initial stage, finally leading to envoy or by the international transport gives physically the money to another country where rule of money market is not much developed or the legislation likes banking system. One good method of money laundering is nominal or smurfing partnership. In this technique, a group of couriers such as nominal partner or smurf keeps little amounts of deposits eac h day in different financial institutions. All the deposits are less than the amount which is less than the amount which asks for the attention of banks, value is less than the report limit. Money laundering- an international threat Money Laundering is seen as a personal improvement by few people, to the loss of many people. It draws up many resources from the public sector and also deterrent growth and investment. Money Laundering is the process via which the indignant suffer most (Haggart, B., 2001). According to IMF, the estimated global money laundering is approximately between $600 billion to $1.8 trillion per year. Former President Mobutu of Zaire stole approximately more than ten billion US dollars when he was in power. Nigeria also received help of around $1.1 billion for international development but Abacha stole almost $6 billion in his regime for himself and his family (Haggart, B., 2001). International Response to Money Laundering United States have been of the fore fron t in combating money laundering. The Bank Secrecy Act (BSA) which obliges the broad record reporting and keeping requirements on the financial institutions in an attempt to give the law enforcement agencies with records of financial obligations. The money laundering control Act of 1986 prevents the circumvention of the requirements set by BSA by which criminal liability is created for the individuals who carry out the transactions for money having any reason, or conducting the requirements of money knowingly, that the people concerned were involved in illegal activity (Gilmore, 1999). United Kingdom is also dedicated towards the Financial Action Task (FATF) which is concerned in taking actions against the money laundering. The recommendations on the terrorist financing comply with minimum international ways to safeguard against the illegitimate act of money laundering (Gilmore, 1999). Factors that have allowed Russian organized crime to flourish since the dissolution of the USSR The political and economic instability which followed the termination of Soviet Union in 1991 permitted a planned crime to merge all of its groups in Russia. The government held many huge enterprises and also role in formulating