Question

3) Does L’Oreal and Estee Lauder have an audit committee? Do they have an internal audit...

3) Does L’Oreal and Estee Lauder have an audit committee? Do they have an internal audit department? Qualified or unqualified report? Can you find any information dealing with internal control? Who are the external auditors? Are they the same auditors for your competitor company? Is there any specific task they are providing beyond audit compliance?

Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
You are an audit manager of PY and have been assigned to the audit of TT...
You are an audit manager of PY and have been assigned to the audit of TT Co (TT), a company which is planning to list on a stock exchange within six months. The listing rules of the stock exchange require compliance with corporate governance principles, and the directors are unsure whether they are following best practices in relation to this. They have asked the audit engagement partner for their view on this matter. TT’s board is comprised of six executive...
Problem 1 You are an internal audit manager in a central government department that pays subsidies...
Problem 1 You are an internal audit manager in a central government department that pays subsidies to agricultural businesses involved in the production of basic foodstuffs. You will soon be undertaking an internal audit of the claims processing unit in your department. In preparation for the assignment you are reviewing the audit file on the previous audit carried out three years earlier. You find the following extract from one of the previous internal audit’s planning schedules: • “The unit receives...
The case WorldCom On 9 June 2003, the US Bankruptcy Court of New York issued an...
The case WorldCom On 9 June 2003, the US Bankruptcy Court of New York issued an interim report (Thornburgh, 2003) which expanded on the Court’s earlier find- ings (Thornburgh, 2002) of lack of corporate gov- ernance, mismanagement and concern regarding the integrity of WorldCom’s accounting and fi- nancial reporting functions. Amongst the numer- ous incidents of mismanagement, corporate gov- ernance failure and accounting irregularities, the most salient related to the overstatement of re- ported profitability by inappropriately capitaliz- ing very...
IReading the following Internal audit section of the LDC Cloud Systems Case Study: NTERNAL AUDIT CFO...
IReading the following Internal audit section of the LDC Cloud Systems Case Study: NTERNAL AUDIT CFO Arizmendi had hired Scott Tensar during the run-up to the IPO for the purpose of creating and heading the internal audit function, and Tensar had continued to report directly to Arizmendi since that time, with a secondary reporting relationship to the board’s audit committee. Tensar, who was well-qualified for the position, was responsible for providing assurance that LDC’s major risks were being appropriately addressed...
Read the following Internal Audit Section of LDC Cloud Sytems Case study and answer the question:...
Read the following Internal Audit Section of LDC Cloud Sytems Case study and answer the question: INTERNAL AUDIT CFO Arizmendi had hired Scott Tensar during the run-up to the IPO for the purpose of creating and heading the internal audit function, and Tensar had continued to report directly to Arizmendi since that time, with a secondary reporting relationship to the board’s audit committee. Tensar, who was well-qualified for the position, was responsible for providing assurance that LDC’s major risks were...
1. In communications with clients, when should CPAs refer to themselves as auditors: a) During any...
1. In communications with clients, when should CPAs refer to themselves as auditors: a) During any type of engagement (Assurance or Attestation) b) Only for review and audit attestation engagements c) Only for audit attestation engagements d) For all compilation, review and audit engagements 2. A compilation report that omits substantially all notes and disclosures: a) Is not allowed b) Includes an adverse opinion c) Must indicate that management has elected to omit such information d) Includes a qualified opinion...
Questions 1.Assume you have evaluated an event and given it a score of 2 for probability...
Questions 1.Assume you have evaluated an event and given it a score of 2 for probability and 3 for impact. Another event was given a score of 3 for probability and 2 for impact. What can be said about the two events given they both had scores of 5. A.The event with the highest probability should be given the most concern B.The event with the highest impact should be given the most concern c. Judgment of the auditor determines which...
Question 2 [40 Marks] Angela have recently been appointed as senior-in-charge of the audit of Signs...
Question 2 [40 Marks] Angela have recently been appointed as senior-in-charge of the audit of Signs (Pty) Ltd. The company is a subsidiary of Boards Ltd and all companies in the group are required to have their annual financial statements externally audited. The company produces a wide selection of signs and signboards, ranging from small signs used on doors etc. to large freestanding road signs. Traffic and road signs form the major portion of the company’s sales. Signs (Pty) Ltd...
Players in the Game ______________________ – responsible for providing the financial reports ______________________ – group of...
Players in the Game ______________________ – responsible for providing the financial reports ______________________ – group of individuals who represents shareholders’ interests ______________________ – provides an independent assessment of whether the statements conform to GAAP rules (internal, external) _______________________ – provides legal standards for various steps in the process (e.g., FASB, SEC, PCAOB, Sarbanes-Oxley standards) Major Regulatory Bodies: ______________________ – major government administrative body whose purpose is to protect investors ______________________ – independent board who sets Generally Accepted Accounting Principles (GAAP)...
You are an Audit Senior on the AUDIO Health Limited (AUDIO) audit engagement for the financial...
You are an Audit Senior on the AUDIO Health Limited (AUDIO) audit engagement for the financial year ending 30 June 2019. AUDIO specialises in the design and manufacture of implantable hearing aids and invests more than twice the industry average in research and development. While undertaking audit planning procedures you become aware of the following: AUDIO has been developing its latest hearing implant, the X5, for a number of years. AUDIO has invested heavily in research and development of the...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT