How Deloitte Is A Professional Services Firm That Provides...

This summer, I interned with Deloitte in the Technology Risk sector, where I performed IT general controls testing and general IT audit work. Deloitte is a professional services firm that offers audit, tax, advisory, and consulting services. I also worked with some internal functions including recruitment, resource management, and information technology services. Culture Ritual Training As a â€Å"ritual†, new hires, interns, and current employees go to Deloitte University for training at least once a year. Some specific groups also host their own trainings in Chicago or Miami. All interns attend the annual intern conference at Deloitte University regardless of the semester they interned. For example, I interned during summer 2016, but there were interns from fall 2015 and spring 2016 present at the same intern conference. At the intern conference, interns participated in team building events and simulations. The keynote speaker was Mallory Weggeman, a Paralympic swimmer. I liked that this process is relevant to all Deloitte employees at every level of seniority. When I participated in team events, the group looked and felt cohesive and special. On the subject of training, Deloitte prides itself on its commitment to training and educating its employees. Besides sending its new hires, interns, current employees, potential hires, and clients to Deloitte University, they also encourage a culture that cultivates learning. Instead of having technical training as part of theShow MoreRelatedDiamond Food3863 Words   |  16 Pagesâ€Å"momentum† payments in incorrect accounting periods for fiscal 2011 was material. Requirement 4 According to PCAOB AU 316 Para. 5, fraud is an intentional act that results in a material misstatement in financial statements that are the subject of an audit. Two types of misstatements are relevant to the auditors consideration of fraud—misstatements arising from fraudulent financial reporting and misstatements arising from misappropriation of assets. Error, on the other hand, represents an unintentionalRead MoreAn Overview of Auditing17849 Words   |  72 Pagesthree major professional accounting bodies in Australia are: a. ICAA, CPA and ASIC. b. CPA Australia, NIA and AARF. c. ATO, AUASB and ASIC. d. ICAA, CPA Australia and NIA. The correct option is d. Feedback: Section 1.3 The auditing environment 2. Which body has a mission ‘to develop, in the public interest, high-quality auditing and assurance standards and related guidance to enhance the relevance, reliability and timeliness of information provided to users of audit and assuranceRead MoreDeloitte Touche case study5807 Words   |  24 PagesHarvard Business School 9-696-096 April 4, 1996 Deloitte Touche Consulting Group June 14, 1995, was unseasonably warm and humid. Maria Chen, a senior consultant at Deloitte Touche Consulting Group (Consulting Group), was half way through a twelve-week engagement with SKS Manufacturing, a Pontiac, Michigan based auto supplier. SKS had engaged the Consulting Group to reduce inventory levels in its main plant. After six weeks, however, work-inprocess inventory had actually increased by 13%Read MoreThe Role of External Auditing in Public Sector Governance. a Case of Zimbabwe15117 Words   |  61 PagesTechnology†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.13 2.2 Benefits and Uses of Information Technology to Auditing†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.15 2.3 Audit Process†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦16 2.4 Audit Opinion and CAATS†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦22 2.5 Impact of a computerized system on the Audit Process†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.26 2.6 Knowledge and Experience†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.28 2.61 Audit Documentation†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.29 2.7 Information Technology and the development of ComputerRead MoreMr Zhang42340 Words   |  170 Pagesstates that the firm of Abernethy and Chapman is considering the acceptance of clients that are publicly traded. 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Viewed as the most significant change to securities lawsRead MoreFinancial Statement Frauds29904 Words   |  120 Pagessuggest possible solutions for improving the audit process in these areas. In order to achieve this target, some cases of the fraudulent financial statements of revenue recognition will be analysed. The main reasons why auditors did not detect financial statement fraud from the technical side were application of analytical review procedures as â€Å"sufficient audit evidence;† weaknesses in audit risk model and risk assessment concerning internal control; and audit failure in revenue recognition and related-partyRead MoreEffect of Matherial Weaknesses on Stock Exchange Market11608 Words   |  47 PagesAuditor Independence. 8 2.3.3 – 300s Behavior and Compensation of CEO, CFO and professional advisors. 9 2.3.4 – 400s Disclosure Rules. 11 2.3.5 – 500s Conflicts of Analyst Interest. 12 2.3.6 – 600s Funding; 800, 900, 1100s Disciplining Transgressors. 13 2.4 SOX Section 404. 13 2.4.1 Overview of Section 404. 13 2.4.2 Internal Auditor Role in Section 404. 14 2.4.3 Definition of deficiencies in internal control system. 15 2.5 Market reactions after SOX. 16 3. IMPLEMENTATION OF THE RESEARCHRead MoreAudit: Auditing and Substantive Tests36648 Words   |  147 PagesQuestion  #1  (AICPA.900546AUD-AU) |    | | The first general standard requires that an audit of financial statements is to be performed by a person or persons having | A.   Seasoned judgment in varying degrees of supervision and review. | | B.   Adequate technical training and proficiency. | | The first general standard requires that the audit be performed by individuals with adequate technical training and proficiency as an auditor. The auditor must have obtained a proper education in accountingRead MoreSection 5 Internal Control over Financial Reporting Essay23602 Words   |  95 Pagesinternal control Qver Financial Reporting CASES INCLUDED iN THIS SECTiON 1. Simply Steam, Co. 155 Evaluation of Internal Control Environment 2. Easy Clean, Co. 155 Evaluation of Internal Control Environment 3. Red Bluff Inn Cafà © 165 Establishing Effective Internal Control in a Small Business 4. St. James Clothiers 169 Evaluation of Manual and IT-Based Sales Accounting System Risks 5. Collins Harp Enterprises 177 Recommending IT Systems Development