Audit standards: an overview
Article Abstract:
The Auditing Standards Board has adopted ten Statements on Auditing Standards, three of which concern the audit committee of a financial institution. SAS No 58, Reports on Audited Financial Statements, outlines basic elements of the new standard auditor's report, which include: statements that the report's financial statements were audited and that the audit was done in accordance with generally accepted auditing standards. SAS No 60, Communication of Internal Control Structure Related Matters Noted in an Audit, concerns the reporting conditions and identification of an organization's internal control structure. SAS No 61, Communication with Audit Committees, requires the communication of additional information from the auditor to the audit committee overseeing the financial reporting and disclosure process.
Publication Name: Management Accounting (USA)
Subject: Business, general
ISSN: 0025-1690
Year: 1989
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The cash management audit
Article Abstract:
A cash management audit is an excellent tool for discovering new cash reserves and increasing the efficiency of a financial system. The benefits of a cash management audit include: identification of areas of opportunity; exposure of any questionable cash management practices; production of a cash management procedures manual; development of current investment policies; and creation of a written code of ethics. The audit, performed by experts with full staff cooperation, should include the areas of: accounts receivable, disbursements, accounts payable, and the concentration of funds.
Publication Name: Management Accounting (USA)
Subject: Business, general
ISSN: 0025-1690
Year: 1989
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Determinants of audit committee formation in the life insurance industry: New Zealand evidence
Article Abstract:
One hundred New Zealand life insurance companies were studied using several different hypotheses to reveal factors determining the formation of audit committees. Hypotheses included form of organization; the size and leverage of the firm; assets in place; cost of monitoring; and reinsurance. Audit committees seemed to be associated with large firms with relatively high leverage and high monitoring costs.
Publication Name: Journal of Business Research
Subject: Business, general
ISSN: 0148-2963
Year: 1997
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