John Wayne International Airport is the sole commercial airport in Orange County. General aviation operations outnumber commercial operations and several facilities at the airport serve the general aviation and corporate aviation community. The other general aviation airport in the county is Fullerton Municipal Airport.
Inventory, general expenses, and payroll. â Cash, accounts receivable, and sales. These accounts are part of the acquisition cycle. When auditing the existence assertion for an asset, auditors proceed from the Supporting original transaction documents to the general ledger. General ledger back to the supporting original transaction documents. Financial statement amounts back to the potentially unrecorded items.
The two key provisions of the Sarbanes-Oxley Act are: 1. Section 302: A mandate that requires senior management to certify the accuracy of the reported financial statement. 2. Section 404: A requirement that management and auditors establish internal controls and reporting methods on the adequacy of those controls.