What are some inherent risks involved in auditing either of these industries? What specific procedures would be used to audit a company in either of these industries that would not be used in a "typical" audit engagement?
Any help would be appreciated. Thanks.
2006-10-27 19:10:38 · 3 answers · asked by Anonymous in Business & Finance ➔ Other - Business & Finance
The FASB offers industry specific guidance in their SAS releases. Check their website for furtheri info. You can also visit the AICPA and SEC websites for industry alerts and recent pronouncements that impact the audit environment.
2006-10-30 00:11:43 · answer #1 · answered by Philip S 2 · 0⤊ 0⤋
I actually used to be an internal auditor for a financial institution. It was a very rewarding task. I so enjoyed the discovery of looking into asset protection. There are far to many facets to cover here. Each internal auditor has to tailor their program to their industry.
Seek ways that you can help to insure the safe keeping of company assets, watch for the proper procedures and legal compliances. Good luck.
2006-10-29 19:23:45 · answer #2 · answered by chey_one 3 · 0⤊ 0⤋
Risky business, with creative accounting for sure. Try Yahoo Finance and research on any given company, including related articles....there is a wealth of information. But as you would know, there are statistics, and there are statistics, and there are damn lies!
2006-10-28 02:21:36 · answer #3 · answered by unfinished_adolescent 4 · 0⤊ 0⤋