Determine control systems in nonprofit organizations

Assignment Help Auditing
Reference no: EM1350817

1. Control systems in nonprofit organizations will never be as highly developed as in profit-seeking organizations." Do you agree? Explain.

2. The president of a fast-growing, high-technology firm remarked, "Developing budgets and comparing performance with the budgets may be fine for some firms. But we want to encourage innovation and entrepreneurship. Budgets go with bureaucracy, not innovation." Do you agree? How can a management control system encourage innovation and entrepreneurship?

Reference no: EM1350817

Reviews

Write a Review

 

Auditing Questions & Answers

  Write journal entries for each transaction

Write journal entries for each transaction and What is Nicole's Getaway Spa's gross profit percentage?

  Illustrate the tax issues

Illustrate the tax issues that are raised and the relevant sections of the legislation.

  Internal control procedures

Which of the following internal control procedures would prevent an employee from being paid an inappropriate hourly wage?

  Determine the audit findings

Evaluate planning materiality, and tolerable misstatement. Justify your decisions. Determine the audit findings. Justify your decisions.

  Prepare all journal entries necessary

Prepare all journal entries necessary

  Show the cash flows from investing and financing activities

Show the cash flows from investing and financing activities sections of the cash flows statement.

  Audit cases available on flecs blackboard

You will then be required to audit cases available on FLECS Blackboard or 20 hospital records.

  Accounting professional and ethical standards

Code of Ethics for Professional Accountants

  State of the company’s industry and associated risk factors

Audit partner is concerned about his lack of knowledge of the industry the company is operating in, state of the company's industry and associated risk factors

  Limitations of effective internal control procedures

A significant component of an audit program is the examination of the organization's internal control procedures and if they are being followed.

  Audited financial statements covered by an auditors report

Show a qualified opinion on the financial statements because of the client imposed scope limitation.

  Audit of fisher aquarium supply

Income tax liability. Fisher's tax attorney informed you that it is possible that the client will have to pay $875,000 in taxes regarding a tax dispute that started four years ago.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd