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 !

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





The New Internal Audit Department
“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








Process of Assurance: Evidence and Reporting
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 
  1. 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