what are the qualifications of an audit opinion in a companys 10-k?
90650
Are you referring to when the audit opinion in a 10-K is a "qualified opinion".  The basis of that description is as follows -- the SEC requires that publicly traded companies have an external auditor audit their year end financials in cluded in the 10-K.  Now, with the advent of SOX, the audit opinion includes both a statement that the financials included in the 10-K are materially accurate and that the companies' internal controls are effective (this second part is new and as a result of Sarbanes Oxley).\n\nNormally this is all that is included and, when given, constitutes an "unqualified" opinion.  This is the bulk of audit opinions.  If, however, the auditor is forced to conclude, upon review of the books that either (1) in some sense it can not state that the books are materially accurate or (2) the books are accurate but indicate that the company is in danger of going out of business, it must note that in its letter.  This opinion, that there is either the potential for material mistatement, or there is a concern for whether the company can continue, results in a "qualified opinion."  You can see examples of that just by typing in "qualified opinion" and "10-K" in Yahoo, which will bring up search results of this.
1180630
It depends on how hard the company wants to hide assets. If the company is publicly traded (stock available) ask a stock broker to get a 10k and 10Q on the company (quarterly and annual report).If its privately held and they are purposely hiding assets you really can't do much as a private citizen. Hire a PI. Even law enforcement has a tough time doing that and they have all the assets. If it's a good company, just ask them.
979300
There are many different kinds of accountant.  If you are reasonably numerate (top 75 percentile) and logical/methodical in your approach to problem solving it isn't difficult at all.\n\nThe hard part is maintaining interest in your studies, as some segments of the qualifications can be very dull.\n\nThere are many different types of accountancy work.  Management accounting, financial accounting, bursarial work, advisory, forensic, audit.... the list goes on.  \n\nIt is a good career path, and if you take a good combination course, with a management element you may well be able to move into other work.  Most senior officers in local government and Chief Executives started their careers in accountancy.\n\nIf you are seriously considering a post graduate course in accountancy the main options are:\n\nCIMA - Chartered Institute of Management Accountants - good generic course with strong management element, liked by business and local government.\nhttp://www.cimaglobal.com/cps/rde/xchg/live/root.xsl/index.htm\nCIPFA - Chartered Institute of Public Finance Accountants - again good management element, but predominantly for those wanting a career in local government.\nhttp://www.cipfa.org.uk/\nACCA - Association of Chartered Certified Accountants - generally preferred option for practice accountants\nhttp://uk.accaglobal.com/\n\nYou could enter the career by working for one of the 'big four', KPMG, PriceWaterhouseCoopers, Deloitte Touche Tohmatsu and Ernst&Young.  Or any number of other firms, or you could apply for a trainee post within local government.  You should expect to take three or four years to qualify, but the financial rewards are high.\n\nBefore you leap into the career wholeheartedly, why don't you try getting a Summer job in an accounts office, or ask local firms/councils for some work experience to give you an idea of what's involved.\n\nPersonally I drifted into finance by accident, I've spent 10 years advising non-financial managers on all aspects of financial rules and regulations and the customer facing aspects of the job gave me great satisfaction.  I've done some audit/forensic accounting, which is brilliant if you like problem solving and puzzles.  Now I'm using that experience in a general management position.\n\nGood luck, whatever you decide to do....just remember that there's more to life than work.  After all I'm 34 and I still don't know what I want to do when I grow up!!
166414
10Q is a quarterly statement filed with the SEC\n10K is an annual statement filed with the SEC\n\nthe 10Q is not usually an audited statement
1053526
The person needs to be objective, and have no vested interest in the company or persons that are requesting the audit.  With that objectivity, the person needs to have access to any and all data necessary to review the (ordinarily) finances, strengths and weaknesses.  Then that person can draft a report that is believable both to the company requesting the audit as well as outside agencies, for example, the federal government.
100586
Yes, EVERY company (private, public, small or large) should have internal audits. Wouldn't you want to find irregularities early rather than later?
995039
You would have to check with the state board of public accountancy and find out their requirements.  It would disqualify you in Texas.
366692
Let me know, I have an MBA, and over 10 years financial services experience.
512552
Visit (Copy & paste the whole text in your address bar)\nhttp://www.shashikanth.net/topic.asp?TOPIC_ID=145&FORUM_ID=9&CAT_ID=8&Forum_Title=General&Topic_Title=Companies+%28Audit+Report+%29+Order+2003
458472
You can search for International Standards for Auditing.\nSome sites for your ready reference.\n\nhttp://www.ifac.org/Guidance\nhttp://www.theiia.org/index.cfm?doc_id=124&bhcp=1\nhttp://www.iasplus.com/ifac/iaasb.htm
433101
you would need a copy of the log from the company, certified by the company's Chief Information Officer\n\nthe CIO might have to testify on your behalf
189606
1.  Segregation of duties - do not have one person do alot of things in a certain area\n2.  Internal control system - ensure that individuals are restricted, based on their level, from accessing certain areas, performing different functions, and overriding the internal control system.\n3.  Establish ethics and conflict-of-interest policies\n4.  Avoid management pressures and incentives\n5.  Background checks of management and executives\n6.  Avoid electing directors with significant equity ownership and little experience\n7.  Avoid family relationships among directors and officers\n8.  Staff internal auditors and have regular and thorough internal audits (this is hard to do since many internal auditors do not like repetition and the pay is minimal).\n9.  Implement a whistle blower process or hotline\n10. Implement a document retention policy and inform employees of this.\n11.  Learn generally accepted accounting principles (GAAP)\n12.  Conduct an external audit, yearly.
906037
Hi Pam,  go to www.accounting.com   there is an accounting forum where you can find what you need.
1085305
Public accounting firms can issue an opinion on financial statements as to their conformity with GAAP and employ CPA's.  Private acctg. firms usually specialize in tax issues and accounting services.
228112
I have been around many of our client's DBA in the past couple of years. Here is what you need to know:\nAll had college degrees from 4 year universities.\nAll were very intelligent people.\nMost had been with the company for more than a year.\nThe youngest was 23 and had worked an internship prior to taking over as DBA.\nThe oldest was 58 and had been with the company for 9 years after being a CPA before that.\nThe average age I would guess between 30-35.\n\nAge doesn't matter to most places. They want knowledge and most want some experience or someone who is willing to train a while before starting the position. Most want someone who will be able to stay with a company for 5+ years.\n\nGood luck!
89651
IF you are a direct hire it should be > =70K till 140K (based on area and expertise) \nBut if you are thru a consulting firm expect 70 percent or less of waht is quoted
1089279
This is more complicated than can a short answer will allow but here's a start:\n\nThe method used in reporting cash flows will be apparent from the top and bottom lines.  If the top line is net income, and everything adds to net income, then they are using indirect.  If the top portion has changes in net working capital (change in receivables, change in cash, change in payables) then the firm is using direct.\n\nThe 10-K will ideally have multiple years' data, but that doesn't always happen.  However, you can look up the 10-K for the same quarter prior year for comparison purposes.  From there get comparative net income and operating cash flows.