Explain the term vouching
Briefly explain the term vouching ?
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Vouching is the procedure of checking the substantiation of the voucher maintain by the management with the respective supporting document.
Distinguish between Operating versus Non-Operating Revenue?
1. A portfolio manager uses a T-bond futures contract to hedge a bond portfolio over the next 4 months. The portfolio is worth $75 million and will have duration of 5 years in four months. The futures price is 118 and each contract is for $200,000. There are three bon
Internal Controls: Internal control includes the plan of organization and all of the coordinate techniques adopted within a business to defend its assets, ensure the accuracy and consistency of its accounting data, encourage operational efficiency, an
how long will it take and how much will u charge
A subgroup of the board of directors composed of directors who are independent of an organization and not employed by organization. The committee acts on behalf of the full board and all stockholders to check on management actions and it has responsibility for the soundness of the
Auditing: Auditing is the systematic procedure of objectively obtaining and estimating evidence regarding assertions concerning economic actions and actions to ascertain the degree of correspondence among those assertions and established criteria and
Financial Audits: It is a financial audit and is the critical analysis of the business's financial records and documentations. This can be completed at any level, from local to governmental. The financial profile or financial audit of the company will
Elucidate how to do an internal audit successful?
The length of the writing / reportmust not exceed 1000 words. Words in Bibliography or Reference Lists section are not included in the word count. 3 marks will be given for the contents (sources and understanding of industry and able to link audit objectives with findings); 1 mark will be given ba
Write down the essential principles of an internal audit control system?
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