Business and Industry Conditions

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Advances in technology have impacted many facets of the auditing process, from assessing risk and internal control to conducting substantive procedures. These changes both create challenges and offer

Assume you are an auditor at an accounting firm. Your team is getting ready to start a financial audit of Robbins Network Solutions (RNS). You will start with the initial review and audit preparation.

You know the following information about RNS.

Objectives of the Engagement

Audit of the financial statements for the year ended December 31, 2017.

Business and Industry Conditions

RNS sells and installs computers and networking hardware and software, and provides information technology consulting to businesses. It is currently developing its own computer networking software to sell to customers.

RNS’s success depends on attracting and retaining personnel with a high level of technical expertise who are able to provide a broad range of services. The market for staff is highly competitive.

The market for computers and networking products is extremely competitive. RNS’s main competitors are companies like Dell, Hewlett Packard, and Apple. RNS also competes with local and regional resellers that provide similar products and consulting services directly to customers. To be competitive, RNS has relied on its ability to provide its customers with state-of-the-art products in a timely manner. Because the company does not have the buying power of some of its competitors, it generally must charge a higher price for its products, but it is also able to provide a higher level of service and expertise to its customers to compensate for the higher price.

The market for computer products and technology services is sensitive to economic conditions. Economic indicators predict the U.S. economy will be relatively stagnant for the next few years, with the annual growth in spending for information technology products and services expected to be 1 percent per year for the next three years. In the past year, RNS has decided to increase sales by relaxing credit rules to provide credit to customers with slightly higher credit risk.

Ownership and Management

RNS is a closely held company owned by six stockholders. Two stockholders are active members of the company’s board of directors. None of the other owners take an active part in the management of the business.

Objectives, Strategies, and Business Risks

RNS’s primary business objectives are to increase sales, services, and consulting revenues by five percent and increase net income by seven percent each year for the next three years. Strategies to achieve those objectives include:

  New software development

  Aggressive marketing of products and services through increased advertising

  Sales to customers with a higher credit risk profile

The primary business risks associated with the company’s strategies include the following:

  The U.S. economy may suffer a significant downturn.

  Competitors may engage in predatory pricing to gain market share.

  Increased advertising expenditures may not produce desired results.

  Credit losses may exceed the benefits of increased sales.

  Software development activities may not generate viable products.

The company has developed the following responses to these risks:

  Frequent monitoring of economy and industry conditions

  Monitoring of competitor actions

  Hiring of a marketing consulting firm to evaluate the performance of advertising methods

  Daily review of aging of accounts receivable

  Adherence to a controlled software development budget

Measurement and Review of Financial Performance

Management uses the following measures to monitor the company’s performance:

  Inventory and receivables turnover

  Aging of accounts receivable

  Sales and gross margins by type of revenue

  Net income

  Total inventory balance

What were the reforms of the Ataturk era in Turkey?

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Study Questions for Cleveland, pp. 171-192 (Chapter 10) Who is Ataturk? What were the reforms of the Ataturk era in Turkey? What were the significant features of the Ataturk Era reformation in Tr? Des

Study Questions for Cleveland, pp. 171-192 (Chapter 10)

Who is Ataturk?

What were the reforms of the Ataturk era in Turkey?

What were the significant features of the Ataturk Era reformation in Tr?

Describe the secularist reformation in Turkey during the Ataturk era.

Who is Reza Shah? What is his significance to Iranian history?

Compare and contrast the reforms in Turkey and Iran in the aftermath of the WWI.

Explain the status of Turkey and Iran during the WWII.

Cleveland, chapter 11 (pp. 193-216)

Explain the status of Britain in Egypt and Iraq during the Interwar Era.

Explain the role that Wafd Party played in the Egyptian struggle for independence.

Describe the Rashid Ali Revolt and discuss the significance of the revolt for Iraq.

Cleveland, chapter 12 (pp. 217-237)

What was the major structural difference between British and French rule in the Middle East during the interwar era?

What were the three rational for the French claim to Syria and Lebanon?

What kind of a policy did the French follow in Syria and Lebanon? How did it influence the societies in the region?

Was there resistance to the French rule in Syria?

What was the French legacy to Syria?

Why did the British change the borders of Lebanon?

What were the demographic and political results of the territorial change for Lebanon?

Describe regionalism, Arabism, and Islamic solidarity in the Middle East and discuss their relevance to the search for identity in the Middle East.

Cleveland, chapter 13 (pp. 239-271)

Explain the patterns of immigration to Palestine?

Explain the patterns of land transfer in Palestine and the role the land transfer in the development of inter-communal conflicts between Muslims and Jews?

How did the Palestine policies of Britain evolve in the first half of the twentieth century?

Explain the cause of 1948 Arab-Israeli War.

Explain the ramifications of this war for civilian people in Palestine.

Which one of the following issues played a more significant role in the emergence of inter-communal violence: religious, ideological, diplomatic, economic, or social? Explain your answer with specific example

Study Questions for Naylor, pp. 168-192.

Explain the WWII experience of Algeria.

Explain the factors that played critical roles in the formation of Algerian struggle for

independence.

When did the war start?

What do you think about the nature of violence during the war? What were the sides and

tactics? Who were the victims? Who were the victimizers?

What was the role of de Gaulle in the war?

When/how did the war end?

What was the coast?

When did Tunisia and Morocco gain their independence?

Who was Habib Bourguiba?

Who was Muhammad ibn Yusuf?

How was Morocco’s WWII experience?

How did Tunisian and Moroccan decolonization differ from Algerian decolonization? Why?

Who was Sayyid Ahmad al-Sharif? How did Libya come under Italian colonial authority?

When/how did the colonial order end? Compare and contrast, regarding colonization and

decolonization, to the rest of North Africa

Study and Discussion Questions for Naylor 215-246

How did colonialism and the War of Liberation affect Algeria?

Who did control politics in Algeria in the aftermath of the War of Liberation?

When did a civil strife break up in Algeria? Explain the development of events in a chronological order and discuss the causes and the results of the civil strife for Algeria and Algerian people.

Explain the global significance of Algeria in the second half of the 20th century and in the early 21st century.

Discuss the nature and basic features of political regime in the post-independence Morocco?

Discuss the relations between Morocco and Western Sahara?

Discuss changes and continuities in politics and society in North Africa during the post-independence.

SQ for Cleveland, ch. 14 (pp. 273-300)

What was the US policy in respect to the Middle East in the aftermath of the WWII? What did play the most important role in the formation of the US policy?

When did Turkey adopt the multi-party system?

Why do you think that there were so many military coup d’états in Turkey in the second half of the 20th c.?

What are the important dates in the history of Cyprus?

What is the Cyprus Question? How did the conflict start and develop? Will there be a happy ending in Cyprus?

Who is Muhammad Mosaddiq? How did he come into power? What were the important issues for Mosaddiq? How did he leave power?

What is SAVAK?

What is White Revolution?

Why did Iran spend lavishly for the celebrations at Persepolis?

What role did the U.S. play in the formation of authoritarianism in Tr & Ir?

Study questions for Cleveland, chapter 15 (pp. 301-322)

Who were the main pillars of the Egyptian ruling elite in the immediate aftermath of the WWII?

What were the causes of the alienation of the masses from the ruling elite in the post WWII Egypt?

Who was Hasan al-Banna? What did happen to him?

What is Black Saturday? When did it take place?

What is the revolution of 1952?

What were the prominent political events in the aftermath of the 1952 revolution?

Who was Nasser? What was his political and ideological alignment?

Discuss the development and ramifications of the Suez Crises of 1956 for the involved parties?

What is Eisenhower Doctrine of 1957? Why was it needed?

What is Arab socialism?

How did Nasserite regime in Egypt influence gender relationships?

How did Nasserite regime in Egypt influence religious institutions?

Study questions for Cleveland, chapter 16 (pp. 323-344)

What is the Arab cold war?

What were the three major factors that significantly contributed to the political instability in Syria in the aftermath of the WWII?

What is the brief history of the Syrian Baath (Ba’th) Party? Explain the ideological features of the Baath Party. Discuss the significance of the Baath Party for the Middle East?

How did Iraq respond to Baatist, Nasserite ideologies in the aftermath of the WWII? Why?

When, how and why did the monarchy end in Iraq?

What were the nature and major policies and programs of the post-monarchy regime in Iraq?

How did the last Hashimite dynasty (Jordan) survive in the post WWII Middle East?

How did Lebanese regime survive the post WWII Middle East?

What is the June War? How did effect the people and the states of the Middle East?

Study and Discussion Questions for Ch. 17, pp. 345-367

Who is Chaim Weizmann?

Who is David Ben-Gurion?

Who is Menachem Begin?

What is Altalena affair? What is the significance of it?

How did the demography of Israel change after the establishment of the Israeli state?

What is the difference between Sephardic and Ashkenazi Jews? How did they adapt to the Israeli state and society?

Who are the Israeli Arabs and how did they adapt to the Israeli state and society?

What were the “building blocks” of the Israeli national identity?

What was the role of religion in the new national identity?

What role did religion play in public life?

What was the role of military in Israeli society?

Describe the Palestinian refugee problem?

What were the social conditions in the refugee camps?

How did the Palestinian resistance develop?

What is the status of Israeli Palestinians in the occupied territories?

What id the Jewish settlement policy?

How did the Jewish settlement policy develop in time?

What role did M. Begin play in the development of the settlement policy?

Chapter 18: Egypt & Lebanon during 70s &80s, pp. 373-395

Did Envar Sadat change Egypt’s political program in a significant way?

What is “the crossing”?

How/when did the October War start, develop and end?

What was the U.S. position during the October War? Why?

What does “the opening” signify?

What does the following slogan mean? “O hero of the crossing, where is our breakfast?”

Why was Egypt expelled from Arab League?

Who did assassinate Envar Sadat in 1981? Why and how?

Who was the political leader of Egypt after the assassination of Envar Sadat?

How were the U.S.-Egypt relations in the post-Sadat era?

Discuss the foundation of Lebanese National Movement, its agenda, and its role in the Lebanese Civil War?

Discuss the foundation of Lebanese Front, its agenda, and its role in the Lebanese Civil War?

What was the initial act of violence that started the civil war in Lebanon?

When/why/how did Syria involve in the Lebanese Civil War?

Why did not the Lebanese military suppress the sectarian violence in Lebanon?

What does “Peace for Galilee” signify? Discuss the major events that led to the Peace for Galilee?

What was the mission of the Kahan Commission? What was the situation in Lebanon in the aftermath of Peace for Galilee?

Discuss the Taif Accord of 1989. What were the major events that led to the Taif Accord? Did it work?

Study Questions for Cleveland Ch19

Who was Hafiz al-Asad?

What was the back ground of Hafiz al-Asad?

Describe the secularist and reformist efforts in Syria during the 70’s and 80’s.

Describe the foreign policy of Syria?

What is the back ground of Saddam Hussein?

How did he come into power in Iraq?

What did he do after he became the president?

What is the ethnic and religious landscape of Iraq?

Describe the Kurdish question in Iraq?

What was Bagdat’s Kurdish policy?

What is IPC and what is the significance of IPC?

Describe the secularist and reformist efforts in Iraq during the 70’s and 80’s.

Describe the foreign policy of Iraq?

Discuss the development and results of Iraq-Iran war?

Study and Discussion Questions for Cleveland Ch 20

What were the major causes of popular opposition to the shah, Reza Pahlavi, in Iran during the ‘70s?

Who were the leading public critics of the Pahlavi regime in Iran during the ‘70s?

When/how did the revolution start?

When/how did the authority of Khomeini become substantiated?

Why did Islamist movements gain popularity in the region?

Who is Qutb? What is his significance?

Who is Shariati? What is his significance?

Study Questions for Cleveland, ch. 21 (pp. 451-472)

When and why did Saudi Arabia start to spend significant amount of money for armament?

Explain “the embargo of 1973” and its impact on the region and the Saudis?

Why don’t the educated Saudis object to the aristocratic rule in Saudi Arabia?

Why do the ulema have such an extensive power and authority over education, legal system, and the supervision of public morality?

When and how did the Gulf states emerge?

Explain the impact of oil-money on Gulf states.

Study Questions for Cleveland, Ch. 22 (pp. 473-497)

What is intifada? When/Why/How did it start? What was the impact of it on people and the I-P conflict?

What were the significant disputes between Iraq and Kuwait before the invasion?

Why and when did Iraq invade Kuwait?

How did the Western world respond?

How did the Arab world respond?

Why did Iraq hit Israel?

What were the results of the uprisings against Bagdat?

Describe the situation in Iraq in the aftermath of the Gulf War I.

Study Questions for Cleveland, Ch. 23 (pp. 499-517)

Explain the Oslo Peace Process? (What/When/Why/Who questions)

What were the problems in the Oslo process? Results?

What is second intifada? When/Why/How did it start? What was the impact of it on people and the I-P conflict?

Is it possible to end the cycle of violence in the Middle East? Why /How/When?

Study questions for Cleveland 537-557 (Ch 24)

What were the major issues with which Turkey has been dealing since the 1980’s?

How did (and still does) these issues influence Turkey’s relations with EU?

Is PKK a terrorist organization?

What was the impact of the conflict between PKK and the Republic of Turkey on people of Turkey?

What is AKP?

What is the significance of AKP?

Who is Khatemi? What is the significance of his political approach?

What were the major challenges of the Egyptian government in the 1990’s?

What is “quite revolution”?

What is the major political difference between Muslim Brotherhood and al-Jamaat al-Islamiyah (Islamic Society)?

What was “independence intifada”?

Discuss the beginning, development and consequences of the Second Lebanon War?

Study questions for Ch 24 (for M & W)

Which power became dominant in the Middle East in the post-cold war era?

What were the three pillars of US cold war policy towards the Middle East? Did the US succeed in them? Explain with specific examples in chronological order.

How has the America’s Middle Eastern diplomacy changed in the aftermath of the Soviet collapse?

Explain the policy of dual containment and discuss its impact on the Middle East.

What do you think about the American claim of favoring democracy in the region?

Do you think that America’s moment in the region will endure?

Explain the ethno-religious make up of Iraq, describe the sectarian powers, and discuss the causes of sectarian violence in Iraq in the aftermath of the Operation Iraqi Freedom.

THE IMPACT OF ARTIFI CIAL INTELLIGENCE

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TOPIC OF THE PAPER: ARTIFICIAL INTELLIGENCE IN AUDITING Instructions for the Paper Choose a topic that is of interest to you(THE TOPIC SELECTED IS ARTIFICIAL INTELLIGENCE IN AUDITING) . Perhaps a to

TOPIC OF THE PAPER: ARTIFICIAL INTELLIGENCE IN AUDITING

Instructions for the Paper 

Choose a topic that is of interest to you(THE TOPIC SELECTED IS ARTIFICIAL INTELLIGENCE IN AUDITING) .  Perhaps a topic that will let you learn more about an aspect of auditing that might help in your career or a topic related to changes that are taking place in the auditing field.

Conduct research on the topic in order to fully describe and discuss how it impacts the auditing profession, the auditor, audit report users, and/or clients.  As appropriate, use credible resources regarding professional ethics, accounting and auditing standards, regulations, and laws.

The length of the paper should be six to seven pages (excluding cover page, abstract, and reference page); double-spaced.  Follow APA style guidelines.  Begin with a cover page that includes your name, the course name and semester, and the title of your paper.  Include an abstract of no more than 250 words.  Use sections and subsections to improve organization and readability.  Follow APA guidelines.  Use APA style for in-text citations and provide a properly formatted APA citation for each source in the reference list at the end of your paper.

Present your paper as professionally as you would to an employer.  Run spelling and grammar check.

BELOW I ATTACHED THE LINKS  AND PDFS  FOR THE RESOURCES NEEDED TO WRITE THE PAPER.

LINKS:

1) https://internalaudit360.com/using-artificial-intelligence-in-internal-audit-the-future-is-now/#:~:text=Artificial%20intelligence%2C%20which%20leverages%20algorithms,other%20tasks%20at%20warp%20speed.

2) https://meridian.allenpress.com/jeta/article/13/2/1/115980/Research-Ideas-for-Artificial-Intelligence-in

3) https://www.caseware.com/us/blog/ai-will-transform-auditing-accountancy

Revenues and payables

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receivables/revenues and payables/liabilities. Both areas come with some type of risk. For receivables/revenues, the biggest risks deal with overstatements. For payables/liabilities, the biggest risk

 receivables/revenues and payables/liabilities.

Both areas come with some type of risk. For receivables/revenues, the biggest risks deal with overstatements. For payables/liabilities, the biggest risks deal with understatements.

Find the management discussion and analysis in the Form 10-K of a publicly traded company that interests you. (Post a link so everyone can see it.) What risks does the company identify that might lead to the risk of overstating receivables/revenue or understating payables/liabilities? What specific tests might an auditor design based on those risks?

In your responses to your peers, support or respectfully challenge their assessment of the risks of overstatement and understatement for their chosen company and the tests an auditor might choose to address them. Are there additional risks your peers failed to identify? Would you recommend tests different from the ones they chose to address the risks that they identified? Why or why not?

Please ensure you answer the question as required.  You need to address risks for AP and AR for the company you choose not risks in general. This applies to your posts and your response posts. 

Try and do your best to relate to the financial statement risks. Sometimes that is not easy from reading the 10K risk factors.

Also, per my other announcement, please do not copy and paste gobs of text word for word from the 10K. Please summarize so it shows you understand the key risks the company faces in regard to financial statement impact.

Response Post Requirements should address:

Support or respectfully challenge their assessment of the risks of overstatement and understatement for their chosen company and the tests an auditor might choose to address them. Are there additional risks your peers failed to identify? Would you recommend tests different from the ones they chose to address the risks that they identified? Why or why not? 

Please ensure you answer all parts of each question.

Thanks

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