Why audit?

Overview

Why audit? We will either be the auditor or be audited. We must understand internal control and the management of risk. The management of risk is everyone’s responsibility.

Report Requirements

Report Content 

1. This report fulfills the request of your supervisor who is completing a project on these key issues, including certifications and the roles fraud detection and deterrence, as well as internal control serve, to meet the goals of the organization.

2. Following your review of course materials in Week 8, use the websites below to create a report of at least one page for each of the three topics: fraud detection and deterrence, internal control, and certifications.

3. Relate these topics to our course material for Principles of Accounting I.

4. The goal is to research, consider, and report what you know about these topics.

5. Consider the question and decide: what would you want to know?

Report Topics

· Fraud Detection and Deterrence

· Internal Control: COSO

· Certifications: CFE, CIA, and CISA

Report Layout

1. Always include your name and a descriptive title in the file name.

2. Create, save, and submit a Microsoft Word document that covers the topics listed below and consists of one page (one page usually has at least 300 words) for each topic.

3. Your report should be adequate. Fewer than three pages is not long enough; seven pages is too long. Ideally, you will end up with a three-page (three pages usually have at least 900 words) report not including the title or reference page.

4. Report is expected to have at least three-pages not including the title or reference page. Fewer than three pages is not long enough; seven pages is too long.

5. Include your name and a descriptive title in the file name.

6. Your report should be single-spaced, with double spacing between paragraphs.

7. Use headers within the document.

Report Structure

1. You are writing a business report, not double-spaced academic papers.

2. This is not a business proposal, and it is not a casual reflective report.

3. Tell a story.

4. Explain the concepts.

5. You are building your vocabulary.

6. Spell check. Write, read, and edit. Take care with word selection and sentence structure.

7. Use APA style for citations and create a works cited list. Include website references.

8. You can use the above concepts, particularly the paragraph on “Why audit?” without reference. A good item for your works cited list: UMUC ACCT 220 Course Materials.

9. Similar to all submissions for this class, use your own words.

10. Show what you know!