This is not a blog only-you will get almost everything helpful, educational materials and so on here with the passage of time.
Wednesday, March 30, 2016
Thursday, March 24, 2016
Download Lover Number One Bangla Movie লাভার নাম্বার ওয়ান 720p HD
পরীমণি ও বাপ্পি অভিনীত প্রথম বাংলা মুভি লাভার নাম্বার ওয়ান।
মুভিটাট টরেন্ট লিংকঃ
Download the Lover Number One movie in 720p HD print.
Link:
http://www.mediafire.com/download/tka60o426buehvh/Lover_Number_One.torrent
Enjoy !
মুভিটাট টরেন্ট লিংকঃ
Download the Lover Number One movie in 720p HD print.
Link:
http://www.mediafire.com/download/tka60o426buehvh/Lover_Number_One.torrent
Enjoy !
Saturday, March 19, 2016
12 Tips On How To Kick Ass At Being A 20-Something
1. It’s okay not to know what to do with your life right now.
We’re
often expected to know what we want to do with our lives by the time we
finish college. But guess what? After four or five years in college,
struggling to pass my course, I’ve learned that it’s absolutely okay to
be lost and confused.
Being in your twenties is all about
self-exploration. These are the years where you’re going to make a lot
of mistakes, and you will learn from them. Both your achievements and
failures will lead you to the path you’ve always wanted.
2. The world doesn’t revolve around you.
This is a bitter pill to swallow for millennials. But as early as
now, learn to drop your ego. There are 7 billion people in this world
and none of them revolves around you. The world doesn’t owe you
anything.
Don’t let self-entitlement get the best of you.
3. Money isn’t everything, but it’s an essential.
In the wise words of Britney Spears, “You better work, bitch!” Money,
when used wisely, can help you sustain your wants and needs.
4. Work hard AND smart. Don’t take the shortcut.
“Don’t
work hard, work smart” is the worst advice ever. Why can’t you do both?
Work hard in achieving your goals and be smart with your
decision-making.
5. Learn how to cook and drive.
a.k.a. Never stop learning.
Thanks to technology, there’s no more
excuse not to learn something. But if there are two things I believe
every person needs to learn is how to cook and drive.
6. Get a driver’s license and a passport.
Be a boy/girl scout! You’ll never know when you need to drive a drunk
friend home or receive a spontaneous opportunity for you to travel.
7. Travel or move as much as possible.
When you travel in your twenties, you’ll see the world in a different
light. You’ll be more respectful of other cultures and race, and more
open-minded.
8. Let go of negative and toxic people, and feelings.
Negative and toxic people will always weigh you down. These people
are always craving for chaos. Their negativity is also contagious.
Let go.
9. Life is unfair. Deal with it.
If life gives you lemons, always remember that there’s something better waiting for you.
10. Be humble. Be kind.
Regardless of your ethnicity, gender
and social status in life, I’m a firm believer that humility and
kindness will take you to places.
11. Have a 5-year plan.
This contradicts the first item on the article but hear me out. I
believe that the best way to figure out what you want in life is to set a
goal. Ask yourself these questions:
- What do I see myself doing in the next 5 years?
- What do I enjoy the most doing?
- How am I going to achieve that goal?
- Once you’ve determined your goals, create action plans and set timeline. This plan will serve as a guide.
P.S. Don’t be afraid to throw away a 5-year plan if a better opportunity arises.
12. Don’t idle around.
It’s a given that many 20-somethings are still figuring out what they
want to do in life. But that doesn’t mean one should stay at home all
day and wait for the Universe to give a sign.
Learn something new. Cultivate your interests. Meet people. This is your twenties. Take advantage of your prime youth!
Sunday, March 13, 2016
Internal Audit
Class Synopsis on: Internal Audit
Assurance: Knowledge Level
Amin Siddiki FCA
|
“We’re here
to help!”
Teach +
Train = Change
Promote effective, efficient and ethical practices and procedures
Definition: An appraisal
or monitoring activity established within an entity as a service to the
entity.
Function of Internal Audit:
Examining,
Evaluating and Reportingtomanagement & the directorsonthe adequacy &
effectiveness of components of the accounting & internal control systems.
•
Who ?
•
Employee of
the entity or
•
Outsourcing
•
Why?
•
To assist management / board in achieving corporate objectives
•
It is a
recognised way of ensuring good corporate
governance.
How to assist board / Management
•
Acting as
auditors for board reports not audited by the external auditors.
•
Being the
experts in fields (ie: implementation of new accounting & auditing
standards)
•
Liaison with
external auditor, Particularly where external auditor use internal audit work
Difference between Internal and External Audit
Denominator
|
Internal Audit
|
External Audit
|
Objective
|
It is an
activity designed to add value and improve an organisation’s operation
|
To express
an independent opinion on Financial Statements
|
Appointed
by
|
Management
|
Shareholders
|
Responsible
to
|
Management
|
Shareholders
|
Relating
to
|
Whole
operation of the organisation both
financial and non financial
|
Concern to
the Financial Statement and related information
|
Who they
are
|
Usually
employee
|
Independent
Firm
|
•
Activities of Internal Audit
•
Monitoring
internal control
•
Examining
financial & operating information
•
Review of
the economy, efficiency and effectiveness of operations
•
Review of
compliance with laws, regulations and other external requirements
•
Special
investigations; ie: Suspected fraud
•
Internal audit to Risk Management
•
Internal
Audit has a two folds role in relation to risk management
•
Monitoring
the company’s overall risk management policy to ensure it operates effectively
•
Monitoring
the strategies implemented to ensure that they continue to operate effectively
•
Internal audit to Internal Control
•
Key role of internal audit is to monitor the overall process and
in providing assurance that the systems meet objectives and operative
effectively.
•
Internal audit to operational Audit
•
Operational/Management/Efficiency audit is the operational
processes of the organiasation. Their prime objective is the monitoring of
management’s performance, ensuring company policy is adhered to.
•
There are two aspects of an operational assignment:
•
Ensure
policies are adequate
•
Ensure
policies work effectively
•
Ensure
policy are adequate
•
Internal auditor will have to review whether the policies are
adequate or not. If required advice to board to improve.
•
Ensure
policies work effectively
•
The auditor will have to examine the effectiveness of the controls
by testing.
Thank You
Evidence & Reporting
Class Synopsis on: Evidence &Reporting
Assurance: Knowledge Level
Amin Siddiki FCA
|
|
BSA 500: Evidence
Definition
All of the information used
by the auditor in arriving at the conclusions on which audit opinion
is based.
Audit Evidence includes:
•
all
the information contained within the accounting records underlying the
financial statements and
•
other
information gathered by the auditors
Importance
The evidence gathered by
auditors, to enable to express an opinion of reasonable assurance on financial
statements.
Audit requires a reasonable
level of assurance to be given and correspondingly detailed audit evidence
needs to be obtained.
In a lower level of assurance
engagement, less evidence will be required to support the conclusion.
Management
is responsible for the preparation of
financial Statements that give true and fair view, but what does it
really mean?
For each item in the financial
statements, management is making assertions
Assertions like:
Ø
PPE
is owned by the company
Ø
The
receivable rely do owe us this money and will pay fairly soon
Ø
The
payroll expenses was for the company’s genuine employees working on the
company’s business
Procedures to gather Audit
Evidence
To express a professional
opinion, the auditors need to gather evidence from various sources.
There are potentially two types of test which they will carry
out:
•
tests
of controls
and
•
substantive
procedures.
Tests of Controls
Performed to obtain audit
evidence about the effectiveness of controls in preventing,
or detecting and correctingmaterial misstatements at the assertion
level.
When the auditors carry out
test of controls, they are seeking to rely on the good operation of the control
system that the company has in place to draw a conclusion that the financial
statements give a true and fair view.
To Test “Test of Control”:
Auditor must use inquiry along
with Re-performance, Recalculation and Inspection
Substantive Procedures
Audit procedures
performed to detect material misstatements at the assertion level. They
include:
•
Tests
of detail of classes of transactions, account balances and disclosures.
•
Substantive
analytical procedures.
•
When
the auditors carry out substantive procedures, they are testing whether
specific items within balances or transactions in the financial statements are
stated correctly. BSAs require that the auditors must always carry out some
substantive procedures, because the limitations in internal control systems
mean that the control system can never be fully relied on.
What kind of Audit Evidence
requires?
Auditors require sufficient
appropriate audit evidence to be able to draw reasonable conclusions on
which to base the audit opinion.
Sufficiency and appropriateness
are interrelated and apply to both tests of controls and substantive
procedures.
Ø
Sufficiency
is the measure of the quantity of audit evidence.
Ø
Appropriateness
is the measure of the quality or reliability of the audit evidence.
Auditor must always carry out
substantive procedures on material items
Quantity of Audit Evidence
Depends on the level of
assurance being offered in an engagement.
q
The
quantity of audit evidence required is affected by the level of risk in the
area being audited. It is also affected by the quality of evidence obtained.
q
If
the evidence is high quality, the auditor may need less than if it were poor
quality.
q
Obtaining
a high quantity of poor quality evidence will not cancel out its poor quality.
Quality of Audit Evidence
External
|
Audit evidence from external
sources is more reliable than that obtained from the entity’s records.
|
Auditor:
|
Evidence
obtained directly by auditors is more reliable than that obtained indirectly
or by inference.
|
Entity
|
Evidence obtained from the
entity’s records is more reliable when related control systems operate effectively.
|
Written:
|
Evidence in the form of
documents (paper or electronic) or written representations are more reliable
than oral representations.
|
Originals
|
Original documents are more
reliable than photocopies or facsimiles.
|
Financial Statement Assertions
The financial statements
assertions are representations by management, explicit or otherwise,
that are embodied in the financial statements.
The auditor should use assertions
for
§
classes
of transactions
§
account
balances and
§
Presentation&disclosures
Assertions about classes of
transactions and events for the period under audit
Occurrence
|
Transactions and events that
have been recorded have occurred and pertain to the entity.
|
Completeness
|
All transactions and events
that should have been recorded
|
Accuracy
|
Amounts and other data
relating to the recorded transactions and events have been recorded
appropriately
|
Cut-off
|
Transactions and events have
been recorded in the correct accounting period.
|
Classification
|
Transactions and events have
been recorded in the proper accounts.
|
Assertions about account
balances at the period end
Existence
|
•
Assets,
liabilities and equity interests exist.
|
Rights and Obligations
|
The
entity holds or controls the rights to assets, and liabilities are the obligations
of the entity
|
Completeness
|
All assets,
liabilities and equity interests that should have been recorded
|
Valuation and
Allocation
|
Assets,
liabilities and equity interests are included in the financial statements at
appropriate amounts and any resulting valuation or allocation adjustments are
appropriately recorded
|
Assertion about presentation
and disclosure
Occurrence and
Right & Obligations
|
Disclosed events,
transactions and other matters have occurred and pertain to the entity.
|
Completeness
|
All
disclosures that should have been included in the financial statements have
been included.
|
Classification
and Understandability
|
Financial
information is appropriately presented and described and disclosures are
clearly expressed.
|
Accuracy and
Valuation
|
Financial and
other information are disclosed fairly and at appropriate amount.
|
Audit procedures for obtaining
Audit Evidence
1. Inspection
2. Observation
3. External Confirmation
4. Recalculation
5. Re-performance
6. Analytical Procedures
7. Inquiry
Inspection
Inspection involves examining
records or documents, whether internal or external, in paper form,
electronic form, or other media or a physical examination
of an asset. An example of inspection used as a test of controls is
inspection of records for evidence of authorization. Inspection
of tangible assets may provide reliable audit evidence with respect to their existence,
but not necessarily about the entity’s rights and obligationsorvaluations
of assets.
Observation
Observation consists of looking
at a process or procedure being performed by others. Examples include
observation of the counting of inventories by the entity’s
personnel and observation of the performance of control activities.
External Confirmation
An external confirmation represents
audit evidence obtained by the auditor as a direct written response to
the auditor from a third party (the confirming party), in paper form,or
by electronic or other medium. For example, the auditor may ask
direct confirmation of receivables by communication with debtors.
Recalculation
Recalculation consists of checking
the mathematical accuracy of documents or records.
Recalculation may be performed manually or electronically.
Re-performance
Re-performance involves the
auditor’s independent execution of procedures or controls
that were originally performed as part of theentity’s internal
control.Recalculation may be performed manually or electronically,
for example, re-performing the ageing of accounts receivable.
Analytical Procedures
Analytical procedures consist
of evaluation of financial information through analysis of plausible relationships
among both financial and non-financial data. Analytical
procedures also encompass such investigation of identified
fluctuations or relationships that are inconsistent with other
relevant information or that differ from expected
Inquiry
Inquiry consists of information
of knowledgeable persons, both financial and non-financial,
within the entity or outside the entity. Inquiry is
used extensively throughout the audit in addition to other audit procedures.
Inquiries may range from formal written inquiries to informal oral
inquiries. Evaluating responses to inquiries is an integral part
of the inquiry process.
BSA 700: Reporting
•
The
Independent Audtor’s Report on a complete set of General Purpose Financial
Statements
- Audit Report
1.1.
Unmodified Report
1.2.
Modified
1.2.1.
Emphasis
of matter
1.2.2.
Qualified
Report
1.2.2.1.
Based
on Scope Limitation
1.2.2.2.
Based
on Disagreement
1.2.3.
Disclaimer
of Opinion
1.2.4.
Adverse
Opinion
Material
& Pervasive
|
Scope
Limitation
|
Disagreement
|
Less
|
Qualified: Except
for
|
Qualified:
Except for
|
More
|
Disclaimer
|
Adverse
|
Basic Elements/ Contents of the
Auditor’s Report
The auditor’s report includes
the following basic elements ordinarily in the following layout:
Title
|
What kind of
report
|
Addressee
|
Report to whom
|
Introductory
Paragraph
|
Identification of the
Financial Statements audited
A statement of the
responsibility
|
Scope Paragraph
|
A reference to the BSAs or
relevant national standards or practices
A description
of the work the auditor performed
|
Opinion Paragraph
|
Reference
to the financial reporting framework used to prepare the financial statements
An expression of
opinion on the financial statements
|
Date of the report
|
Date of the
signed by auditor
|
Auditor’s Address
|
Address of the
firm
|
Auditor’s
Signature
|
Who is
responsible for ie: Audit Firm
|
Expectation Gap
The expectation gap is defined
as the difference between the apparent public perceptions of the
responsibilities of auditor’s on the one hand and the legal and professional
reality on the other.
This definition is not
definitive. But some issues can be
highlighted.
Misunderstanding
of the nature of audited financial Statements.
§
The
financial position provides a fair valuation of the reporting entity
§
The
amounts in the financial statements are stated precisely
§
The
audited financial statements will guarantee that the entity concerned will
continue to exits
Misunderstanding
as to the type and extent of work undertaken by auditors.
§
All
items in financial statements are tested
§
Auditors
will uncover all errors
§
Auditors
should detect all fraud
Misunderstanding
about the level of assurance provided by auditors
•
The
auditors provide absolute assurance that the figures in the financial
statements are correct.
Thank
You
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