tailieunhanh - A Brief Guide to… External Auditing

Advanced Storage Tiering. Having seen the benefits of expanded storage tiers, EMC will continue to implement a tiered/shared model. The plan is to automate data movement between tiers and selectively use solid-state disk for applications that require high performance. Dense, affordable SATA disk will continue to be the standard otherwise. EMC plans to implement Fully Automated Storage Tiering (FAST) for automated, policy-based data movement, which will help streamline storage costs and maximize resource utilization. By using Symmetrix V-Max storage and PowerPath Virtual Edition on VMware vSphere clusters with FAST, EMC expects to increase the storage utilization rate from 68% to. | A Brief Guide to . External Auditing FINANCIAL REPORT AUDIT REPORT February 2006 DRAFT ẼH SAINT HELENA 3 AUDIT SERVICE v. - February 2006 Document External Auditing What is EXTERNAL AUDITING An examination of the annual financial report of an organisation by someone independent of that organisation. .annual financial report. Usually includes a balance sheet a profit and loss account a cash flow statement notes stating the accounting policies applied plus more detail on the figures disclosed in the previously listed documents and a report by directors of the organisation. .someone independent. An auditor must play no part in the day-to-day running of the organisation and must not be controlled by the management of the organisation What is the purpose of an EXTERNAL AUDIT To express an opinion on whether the information presented in the financial statements reflect the financial position of the organisation at a given date. For example Are details of what the organisation owns and owes properly recorded in the balance sheet Are profits or losses properly assessed opinion. An opinion may be referred to as qualified accounts do not present a true and fair view or unqualified no significant concerns AUDITORS OBLIGATIONS Statutory Obligation - is a duty imposed by the law. Auditors have statutory obligations because people want to be assured that the auditor has checked that certain matters . laws and policies have been followed and adequate records have been kept. Other Obligations - the main other obligation is to report serious irregularity . improper use of the organisations funds. Auditors notify Management of any significant issues observed during the course of the audit via an annual Audit Management Letter . Such issues are recorded together with recommendations for their resolution and an agreed action plan for implementation. A brief guide to. External Auditing Page 2 v. - February 2006 Document External Auditing What does