Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Auditing Expert

problem 1: Corporate governance is a main area for auditors to understand as this now gives impetus to the role of internal audit. Corporate governance mainly concerns the way that a company is operated and directed, and in specific encompasses the operation of the board and audit committee, and also the overall control and risk management framework.

Required:

a) Why has corporate governance had such an impact on the internal audit?

problem 2: UTM Hotels is a listed company that runs a chain of some 40 hotels. The company has an established internal audit department that is based at the head office and that makes regular visits to the hotels.

The hotels give business and tourist class accommodation. They as well provide restaurants, bars, conference and leisure facilities that are open to the general public and also residents. The company operates a computerized central booking and billing system and a stock and asset control system, both of which can accessed through terminals in the hotels. Access to the system is restricted by the use of password and all important expenses are authorized via head office. The payroll is operated via head office. Hotel and regional managers are actively included in the setting of budgets and cash flow forecasting. On average, all through the year, the chain has a 65% occupancy rate.

Required:

a) describe six areas in which the internal audit department at UTM Hotels might check detailed transactions and balances.

b) describe four areas in which the internal audit department at UTM Hotels might carry out reviews of system or the operational performance.

Auditing, Accounting

  • Category:- Auditing
  • Reference No.:- M96918

Have any Question? 


Related Questions in Auditing

Write a report that discusses emerging issuestop risks and

Write a report that discusses emerging issues/top risks and its impact on internal auditing. Topic: Third-party relationships - Ensuring third-party adherence to regulatory mandates Two pages' long Single spaced Times Ne ...

Assignmentchoose a publicly traded company and research its

Assignment Choose a publicly traded company, and research its annual report. (If you cannot find it online, you can go to the U.S. securities and Exchange Commission Web site and locate a copy). These results have been a ...

Audit report assignmentinstructions activities you will

Audit Report Assignment Instructions (Activities you will perform to help you write your assignment report): • Public Company is Under Armour, Inc. • Access the financial statements for a recent year through the SEC fili ...

Background informationthis assignment is based on the

Background information This assignment is based on the Professional Application Question 2.37 in your e-text. Fellowes and Associates Chartered Accountants is a successful mid-tier accounting firm with a large range of c ...

Objectivesanswer the following questions with reference to

Objectives Answer the following questions with reference to the relevant common law and equity principles operating in Australia concerning contracts plus related and other transactions. Do not consider the effects of le ...

Generally accepted auditing standardscomplete problem below

Generally Accepted Auditing Standards Complete problem below and submit to your instructor. Write under the generally accepted auditing standards column the specific standard that was violated and how the action of Jones ...

Audit assurance and compliance assignmentquestion 1

Audit, Assurance and Compliance Assignment Question 1 - Impulse Pty Ltd (Impulse) is an entertainment system manufacturer that was established in 2005. Your audit firm King & Queen have been the auditor of Impulse since ...

Write a 750- to 1050-word paper on fraud auditing and it

Write a 750- to 1,050-word paper on fraud auditing and IT auditing. Describe the different kinds of fraud andthe Fraud Triangle, an auditor's responsibility to identify and assess fraud. Describe the specific risks, bene ...

Questionnbspinstructions this assignment is to be submitted

Question:  Instructions: This assignment is to be submitted in accordance with assessment policy stated in the Subject Outline and Student Handbook. It is the responsibility of the student who is submitting the work, to ...

Assignment full disclosure in financial reporting - verizon

Assignment: Full Disclosure in Financial Reporting - Verizon Communications According to the textbook, the goal of financial reporting is to report financial information that is transparent and complete and truthfully re ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro

Describe what you learned about the impact of economic

Describe what you learned about the impact of economic, social, and demographic trends affecting the US labor environmen