Auditing Plan for MYOB Group Limited for Accountability Journal

Question: Discuss about theAuditing Plan for MYOB Group Limited for Accountability Journal. Answer: Introduction Audit plan is a process of assessing the audit risk, and setting materiality levels. It a documentation of auditors explaining the clients financial systems and internal controls (Arens, 2007). An audit plan enables the auditor to understand the client business and the environment that it operates in. The audit plan is drafted after and agreeing on letter of engagement. The plan sets the audit objectives that have to be met at the end of the auditing process. The audit plan outlines the priorities that are cost effective, ensures sufficient evidence is generated from audit work, outlines direction and control of daily audit works, ensures sufficient attention is spent on critical areas of the audit work and ensures auditing is completed within specified time and cost budget (Christopher, Sarens, and Leung, 2009). Therefore, an audit plan is an important document in auditing process in order to provide true and fair opinion on the financial statements of an organization. The following write up is an auditing plan for MYOB Group Limited. The write up will also discuss the MYOB Company to gain the knowledge of the business and the environment that it operates in. Knowledge of the business MYOB is a public company listed in Australian Stock Exchange (ASX). MYOB is multinational informational technology company with headquarters in Glen Waverly, Victoria State in Australia. The Company was started in 1991 in Australia. The word MYOB is an abbreviation of Mind Your Own Business. The company specializes in providing accounting, tax, and other IT services to medium and small businesses. The MYOB Company is led by Tim Reed as the Chief Executive Officer and Richard Moore as the Chief Finance Officer. MYOB limited is a leading company in providing cloud based business solutions in management. The company provides their services to more than 1.2 million accountants, enterprises, and book keeping in New Zealand and Australia. The Company has 1400 employees. The company operations are divided in three segments; SME Solutions, Enterprise Solutions, and Practice Solutions. The SME solutions include provision of accounting software such as payroll, tax, accounting, and other business management solutions. The practice solutions provide practice software to over 40000 accountants. Practice software includes; practice management, company secretarial, insolvency, and accounting solutions. The company also provides enterprise software such as ERP and HRM software to over 7000 large and medium businesses. MYOB vision is to make businesses succeed by making every facet in business easier. The company mission is to create and deliver business management tools that lead the market in raising productivity of businesses in New Zealand and Australia. The Company strategy is to build a leading market platform that delivers seamless connection between SMEs, advisors, and the accounting ecosystem. Therefore, MYOB is a fast expanding business through first to the market cloud position. The company is highly affected by change in information technology system. Auditing objectives The objectives of the MYOB audit work to establish if the financial statements are; Free from Material Misstatement There is no fraud or error The auditing objective will enable the auditor expresses an assurance and reasoned opinion about the financial statements of MYOB. Audit Scope The audit scope of the audit is MYOB 2016 financial year. The fiscal year starts on 1st January to 31st December 2016. The audit will be done on the financial statements to establish if there is material misstatement. Materiality The benchmark for materiality will be profit from operations before tax. The bench has been chosen because of the nature of the industry that MYOB operates in. The company is also involved in aggressive strategy that is innovation to lead in cloud based business management tools. This means that the company profits are highly volatile from one year to another. The materiality level will be set on 5% of the profit from operations before tax. Any account that will have more than 5% misstatement will be declared materially significant and if an account or balances misappropriated or misstated are 5% less of profit from operations before tax will be declared materiality insignificant. This means that balances misappropriated or misstated behold 5% can have impact on the financial statement of the company and any balances below 5% of the profit from operations before income tax does not have an impact on the financial statements (Shah, 2012). The 5% materiality level has been chosen because the auditing works is for a profit company and can influence the decisions of stakeholders. Therefore, the MYOB audit will use 5% materiality level of profit from operating before tax to declare significant of a balances when making opinion on the Companys financial statements. Significant Accounts in MYOB Financial Statements The following are accounts that can go wrong in MYOB financial statement; Inventory account: The inventory account is in the risk of misstatement arising from underestimation or overestimation. The inventory account can be wrongly valuated or calculated when being recorded to the financial statements (Soh, and Martinov-Bennie, 2011). Cash account: This account is at a risk of misappropriation. Transactions by cash can easily be misappropriated from the company by individuals in handling the cash compared to credit or online transactions. Property, equipment, and plant account: This account is faced with several risks to misstatements. The account is affected by valuation as a result of depreciation. This means that the account can be valued using a subjective method that can lead to understatement of the account (Elder, Beasley, and Arens, 2011). Receivable account: This account is at a risk of understatement for allowable from doubtful account. This means that there is a problem in valuing the debtors accounts either by closing the account or allowing for write off (Legoria, Melendrez, and Reynolds, 2013). Expenses accounts: This account has a risk of being misappropriated. The entry of the financial data in this account can be easily be omitted or an error in entry that can result to the account being misappropriated. The expense account is also complex due to the large number of entry (Keune, and Johnstone, 2012). Auditing Budget The budget allocation for the audit is $400000 as indicated in the engagement letter. Conclusion The auditing plan above of MYOB Group Ltd will therefore be success following the analysis in the plan. The plan has discussed the MYOB Group Ltd that enables understanding of the business, the industry of operation, challenges, and products produced by the business. The plan also defines the objectives and the scope of the audit creating focus and direction of the audit work. Lastly, the audit report sets the materiality level and significant account in MYOB financial statements. Therefore, the audit plan will enable the management of the audit work in MYOB for 2016 financial year. References Arens, A.A., Best, P., Shailer, G., Fiedler, B., Elder, R.J. and Beasley, M., 2007. Auditing and assurance services in Australia: an integrated approach. Pearson Education Australia. Christopher, J., Sarens, G. and Leung, P., 2009. A critical analysis of the independence of the internal audit function: evidence from Australia. Accounting, Auditing Accountability Journal, 22(2), pp.200-220. Elder, R.J., Beasley, M.S. and Arens, A.A., 2011. Auditing and Assurance services. Pearson Higher Ed. Keune, M.B. and Johnstone, K.M., 2012. Materiality judgments and the resolution of detected misstatements: The role of managers, auditors, and audit committees. The Accounting Review, 87(5), pp.1641-1677. Legoria, J., Melendrez, K.D. and Reynolds, J.K., 2013. Qualitative audit materiality and earnings management. Review of Accounting Studies, 18(2), pp.414-442. Soh, D.S. and Martinov-Bennie, N., 2011. The internal audit function: Perceptions of internal audit roles, effectiveness and evaluation. Managerial Auditing Journal, 26(7), pp.605-622. Shah, M., 2012. Ten years of external quality audit in Australia: evaluating its effectiveness and success. Assessment Evaluation in Higher Education, 37(6), pp.761-772.

Getting the Best Help with Dissertations

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Investigative Topics For Writing An Argument Paper

Investigative Topics For Writing An Argument PaperInvestigative topics for writing an argument paper help you find out about a topic and answer the question; 'Is this true or false?' Investigative topics are used to help you learn about new information, experiences, and observations.Factual or 'hard' facts of any topic have been studied and figured out in different ways. The way we write can help us to learn new facts about a topic, as well as how to handle old facts. Research is the best way to learn.Investigative topics for writing an argument paper are also called data collection. In general, an argument paper is built around a premise (for example, 'Greenpeace must not be allowed to disrupt the United States economy'), and then a series of supporting facts (also known as 'data').When the premise is established, factual data (for example, 'Greenpeace creates an environment of fear among the citizens of the United States') can be gathered. As the supporting facts (for example, 'Gre enpeace operates in countries where workers and the environment are not treated fairly'), are collected, a conclusion (for example, 'Greenpeace is a threat to the United States economy') can be reached. While all research should begin with the premise, the supporting facts provide important data. These facts must be carefully analyzed and developed to arrive at a conclusion.Investigative topics for writing an argument paper are often used in investigative journalism. Investigating subjects is one of the most common ways to get a story.Investigative topics for writing an argument paper can be used to prove or disprove a hypothesis. The purpose of an argument is to justify a conclusion. The argument cannot just come at the end of a study. It must be built up before that conclusion is reached.If it were possible, there would be no need for any investigative topics for writing an argument paper. The purpose of a claim would be to prove something, and to use the premises to support that claim.Investigative topics for writing an argument paper will help you learn about the world, its people, and how you can use it to your advantage. Investigative topics for writing an argument paper can also help you learn the advantages of your findings.

Hispanic Research Paper Topics

Hispanic Research Paper TopicsFor many years, Mexican, Guatemalan, and Spanish researchers have been researching issues related to the Latino community. The issue of the bilingual heritage and cross-cultural understanding has been a huge concern for Latin American researchers for quite some time. That has resulted in the creation of many prestigious conferences in this field, including conferences held by the Council of the Americas. In many ways, the bilingualism in the Latino community has contributed to the region's academic excellence, as it provides students with a more varied curriculum and great opportunities for education.Because of the Hispanic community's contribution to the cultures of South America, Latin American researchers believe it is necessary to address the topics of the importance of bilingualism and the importance of research paper topics in their research. It is important to continue to study the impact of bilingualism as a way to promote inclusion and improve t he education in the Latino community. There are two sides to the argument, with many Latinos becoming curious about the Hispanic experience. While many Hispanics are happy to learn about the advantages of being bilingual, others may be afraid that bilingualism will only lead to a loss of their culture, and cultural identity.It is important to discuss what the individual can learn from the study of a different culture. If the Latino community has such a rich culture, then why does it have problems with educating its children? The research paper topics would have to include the issues of proper bilingual education and the importance of studying the Latino culture. Any research paper topics should be suitable for the research climate and the topics should make an impact on the reader and help him or her understand the importance of bilingualism.There is a problem with researching the importance of research paper topics in the Latino community; however, this problem also has to do with the history of the Spanish and the Latino communities. Many issues have to do with the effort of minorities to have their culture recognized. What has happened to the value of the Spanish language?Researchers who study bilingualism often face criticism from Latinos. Many of these studies come across as an attempt to devalue the Latino culture. This is not the case; rather, research papers are being done to find out how bilingualism has contributed to the growth of the Hispanic culture. The reality is that both of these groups were ignored by their society.Scholars have discovered many different areas of difference between the Spanish and the Latino communities. One area is the importance of the Spanish language; the majority of Hispanic students say that they are uncomfortable learning Spanish in the classroom. As a result, the research paper topics about the importance of bilingualism have helped shape the Latino community's image.Other aspects of education have to do with the adva ntage of having different native tongues. When the study of these languages is taught in the United States, the general population tends to realize that this is a more viable way to teach. As a result, there is an increased focus on the importance of knowing Spanish, and therefore on the need for research paper topics. By discussing the importance of bilingualism and research paper topics, the Hispanic community is gaining a greater voice within its society.

Definition Classification Essay Topics - Class Topics

Definition Classification Essay Topics - Class TopicsHow do you determine the best classification essay topics for high school? A lot of students would want to know this. They would ask if there is a way to save time in writing their essay. If the answer is yes, they would not have a clue what to write.Definitions are important in a class, research paper, a research report, an exam, or even in English grammar. These are all examples of classes in which you would need a definition. These class topics are as follows:Meaning: What is the meaning of 'dictionary'. There are definitions given in books and manuals. However, do you have a definition that will help you answer the question, 'What is the meaning of the dictionary'? This can be more useful to your case if you are trying to give a definition for your essay.Definitions are often used in articles. When giving an essay on your favorite sports team, you need to give a definition for 'home run.' You need to define it more specifically . Without one, it is difficult to understand the article, or to give a better explanation.Material: This is probably the most important question when answering these classification essay topics. This will tell you how much you are going to be discussing your subject matter. When you are trying to define your topic, the best method is to compare your definition to the material given in the article.Student's class topics should not be too difficult. Sometimes you need to show how the topic relates to the main class topic. Therefore, you need to have a definition that shows you are showing the class what your topic is about. That is the best method, but if you do not have one, you may have to give an example.Exams: Are you writing your essay topics on a test? Writing good definition essay topics for an exam will be more beneficial to you than to someone who is not writing on a test. Look at the definition you wrote, and see if you have a better one.

The Outsider (Of Mice and Men) Research Paper Example

The Outsider (Of Mice and Men) Paper George, especially foreshadows future problems between Lennie and Curleys wife because Lennie got into trouble in Weed from trying to touch a lady wearing a red dress. As the story progresses, we learn more about Curleys wife. We learn that her husband does not trust her with the other ranch workers, being isolated from the community in the ranch and because of that, must feel really despondent and alone. Curleys wife is given a reputation of creating trouble between the different characters in the novel. Most of the men in the ranch rarely sees females, only recognizing females who go to town to a whore-house. This then reveals the stereotypical view on women as that of a whore. Curleys wife states I never get to talk to anyone. I get awful lonely. This shows that being the only female leaves her with the lack of companionship especially when she is being disliked by other characters in the novel and not being truly loved by her husband. There is no mutual trust between Curley and his wife, as we see that he starts a fight when he thinks that there was something going on between his wife and Slim. We will write a custom essay sample on The Outsider (Of Mice and Men) specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on The Outsider (Of Mice and Men) specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on The Outsider (Of Mice and Men) specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We also learn the prejudice side of her when she goes to Crooks door on the Saturday night where everyone goes to town. From this we see the bitterness and seclusion in her. She knows that Curley has gone out to town, and this is when we get to see the reality of her life on the ranch. She enters Crooks room with the excuse of looking for Curley to talk to him, Lennie and Candy. When Crooks suggests that she go(es) along to your (her) own house and that they didnt want no trouble, she tries to convince them to talk to her and expresses her loneliness. Well, I aint giving you no trouble. Think I dont like to talk to somebody ever once in a while? Think I like to stick in that house alla time? This then draws the readers sympathy towards her as we realize how forlorn she is, even being ostracized by Crooks, a Negro. However, the sympathy we have for her soon becomes washed away when she reveals the cruel side of her, intimidating people with her status. When Crooks told her to leave the room for the 2nd time, she gets angry and shows the contemptuousness she feels for Crooks, Lennie, and Candy, referring them as a nigger an a dum-dum and a lousy ol sheep. The situation worsens when she also threatens and reminds Crooks of his status as a Negro, removing Crooks pride and dignity, when he dares to demand her to leave his room. Listen, Nigger, You know what I can do to you if you open your trap? This then causes the reader to recognize both the lonesome and malevolent side of her. She also mocks and puts people down when it comes to the dreams of other people. I seen too many of you guys. Dreams are a major reoccurring theme in the novel Of Mice and Men. When Lennie tells Curleys wife of his and Georges dream, she mocks them saying its Baloney. However, we then find out that she has a dream of her own, revealing the ambitious side of her. She indulges in a different fantasy, far less likely of fulfillment. As many young women do, she aspires to stardom in films. She claims to have met an actor when she was 15, and was being told that she was a natural in acting, but her mother forbade her to pursue her dream. This is shown when she says Well, a show come through, an I met one of the actors. He says I could go with that show. But my ol lady wouldn let me. She says because I was ony fifteen. But the guy says I coulda. If Id went, I wouldnt be livin like this, you bet. From this it shows how unsatisfied she is with her mothers decision and how she really wished she had been able to pursue her dream. She thinks her talent is merely waiting for an opportunity and that her mother has stolen the letter which represents her chance for fame. Steinbeck describes precisely the small grand gesture with which she demonstrates to Lennie her supposed talent. This shows how nai ve she is to believe that her mother has stolen her contract, which was obviously never written. When she received no letter from the actor, she married Curley. However, she has always wanted to make some accomplishments and loved attention. Throughout the novel she constantly wanders around the ranch, creating trouble. When she was killed by Lennie, her dreams ended. Lennie, Candy and Curleys wife were not capable of having their dreams come true but stayed hopeful. From the many incidents that the characters in the novel encounter, it is shown how big dreams often cause tragedies and are sometimes unrealistic. In the novel as a whole, she is represented as the marginalized and disempowered part of society. She uses her status and power to intimidate people in the ranch. Overall, Curleys wife is presented as a flirtatious, lonely young woman who is very discontented with life. Readers who read the book would evoke sympathy for her because of her sad situation and cruel husband, but also dislike her because of her flirtatious and mean attitude. Show preview only The above preview is unformatted text This student written piece of work is one of many that can be found in our GCSE John Steinbeck section.

68 Book Cover Ideas to Take Your Book Cover from Bland to Brilliant

68 Book Cover Ideas to Take Your Book Cover from Bland to Brilliant 68 Book Cover Ideas To Inspire Your Next Book You know the mantra: â€Å"Don’t judge a book by its cover.† But that’s easier to say than do. A book's cover is your not-so-secret weapon when it comes to sales  and the  reader's very first impression of a book. Or, as  famed designer Paul Sahre once put it in an interview with Penguin Random House:â€Å"On a purely functional level, a jacket is there to protect the book, but I also like to think of a book cover as a door. It’s the beginning of the experience of reading.†Basically, book cover design is one of the book’s most important assets and can have an enormous impact on sales  - so you need to get it right.  We cherry-picked 68 brilliant covers to give you some book cover ideas. (If you're looking to inspire a great back  cover, read this post that's all about the book's back.) Happy viewing! 68 book cover ideas that can (and will) inspire your next book! #bookdesign Illustration-oriented Book Covers1. Minimalism is still trendy. Cover designs  by (from left to right): Richard Augustus.When in doubt, just remember Michael Jackson’s Thriller: dark, moody, and dramatic. That’s the atmosphere that a cover for a thriller will aim to create. To that end, they’ll tend to stick to a dark and contrasting color template. Meanwhile, the type is more often than not going to be sans-serif, so that the books seems modern, cutting-edge, and, most of all, exciting.If you'd like even MORE inspiration, why not check out Reedsy Book Cover Art Gallery,  where you'll find wonderful examples of the work being done by freelancer designers today.Feeling inspired? Now go forth and create your own cover! Or leave a comment if you have any questions for us about the cover design process.