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. 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 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

1. Fraud Detection and Deterrence
2. Internal Control: COSO
3. Certifications: CFE, CIA, and CISA

Report Layout

1. The report should be adequate. The report is expected to have at least three-pages. 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.
2. The report should be single-spaced, with double spacing between paragraphs.
3. 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: UMGC ACCT 220 Course Materials.
9. Similar to all submissions for this class, use your own words.
10. Show what you know!

Answer rating: 100% (QA)

An audit is important as it provides credibility to a set of financial statements and gives the shareholders confidence that the accounts are true and ... View the full answer