 analytical procedures. Auditing: A Journal of Practice & Theory 26(1): 1-18.
The precision with which auditors form expectations during analytical procedures is important. The precision of an expectation is a measure of the closeness of the developed expectation to the actual amount and refers to the quality of the expectation, and thus, the quality of the analytical procedure. Professional standards clearly indicate that auditors should be able to form more precise expectations for accounts that are more predictable (income statement relationships generally are more predictable than balance sheet relationships) and when the information related to the account is more disaggregated (i.e., detailed). However, the Public Oversight Board’s (POB) Panel on Audit Effectiveness has found evidence that auditors rely on analytical procedures that do not provide the desired level of assurance, suggesting possible difficulty in assessing precision. To address this finding by the POB, this study investigates auditors’ abilities to assess expectation precision and incorporate their assessments into judgments related to substantive analytical procedures, as required by professional standards. A first step toward developing more effective guidance is obtaining a better understanding of why auditors sometimes fail to effectively apply analytical procedures. As such, the authors aim to answer the following two questions:
(1) The level of assurance expected by auditors to be provided by the analytical procedure.
(2) The range of the difference between the expected and recorded amount.
(3) The likelihood that the difference between the expected and recorded amount is due to misstatement versus nonmisstatement causes.
The authors gathered their data experimentally at a firm training event for audit seniors and above (the training event occurred sometime during or prior to 2005). The participants were asked to review workpapers which included analytical procedures for two different accounts – the allowance for loan losses (a less predictable account) and interest income (a more predictable account). The expectations for the analytical procedures documented in the workpapers were either based on more or less detailed information. After reviewing the analytical procedures, auditors were asked to assess the precision and the level of assurance provided, provide an expectation range for the account balance, and judge the amount of difference between the expected and recorded amount due to misstatement.Traffic Offence: Lagos State Task Force arraign bullion van driver for driving against traffic (One-way)
collusion with up coming vehicles.
SP Egbeyemi confirmed that majority of motorists apprehended for this particular traffic offence (One-way) were educated private car owner who ordinarily should have obeyed the law without any strict enforcement.
The Chairman urged motorists particularly commercial bus drivers to desists from driving against traffic and obey different traffic signs conspicuously displayed by traffic officers particularly around Dopemu, Agege/Pen cinema, Apapa-Oshodi express way, Mile 2 and other part of Lagos
SP Egbeyemi said the construction of alternative routes for motorists across all Local governments and Local council Development areas of the State by Governor Akinwunmi Ambode was meant to ease off traffic congestion in Lagos
He however confirmed that the Lagos State Commissioner of Police CP EDGAL IMOHIMI directed that the arrested bullion van driver be charge to court for prosecutions as nobody is above the law.
The Commissioner of Police also directed further that the Agency should be on the look out for all unauthorised private vehicles using siren, revolving light and those covering their plates numbers. He emphasised that, these acts are purely illegitimate.
Mr. Oke Onyeche (48yrs) the bullion van driver said he drove against traffic out of the curiosity to get to his destination on time and that he never knew that he would be caught.
"I want the government to please tamper justice with mercy"
He said the empty bullion van belonged to Integrated Cash Management Services (ICMS) and that he would never in his life drive against traffic.
Chief Magistrate Amos Olajuwon of the Lagos State Mobile Court who presided over the case adjourned the case to 18th of May, 2018 for 'Facts and Sentence' after the bullion van driver (Mr. Oke Onyeche) had pleaded 'Guilty' to have drove against up-coming vehicle (one-way) in contrary to Schduled (1) item 27 of the Lagos State Road Traffic Laws of 2012 levied against him.
The court levied 2 counts charge of 'Obstruction and One-way' against the accused.
The court registrar, Mr. Oseni Ibrahim said the arraignment of the bullion van driver was meant to serve as deterrent to other road users particularly those on essential services duties to flouting the laws across the State.Can you believe there’s a Mortgage Guy III? Well, neither can I….
He never replied to that last text and believe me, it bothered me a whole lot. I felt something wasn’t right so a week later while I was up in Catskill Mountains, I wrote Mortgage Guy a rather nice email – short but to the point – I figured I should take the high road and just take a chance.
Lobbing the ball over to his side of the court my thought process was if he didn’t respond, then I knew it wasn’t me. It was him.
It wasn’t an apology for the previous faux pas, but at least it was an acknowledgment.
We had already done the coffee thing, so I was thinking he was gong to want to see me Saturday night. I send out an email to update the Hen House and ask them to suggest something low-key, quiet, comfortable with good ambiance for coffee or a cocktail, (preferably the later). Hell, so much had changed in Manchester since I lived there wasn’t familiar with anything anymore.
Julie, Brigitte and Denise all chime in via email and suggested the following: Karma (the hookah bar), Bedford Village Inn – Wine Bar, Unwine’d, Z on Elm Street, or Firefly.
MORTGAGE GUY: Good morning, girl. So, Starbucks tomorrow morning?
You’ve got to be kidding me!!!! Ok……ok….ok…..I’m just going to go with it.
CARRIE: Of course. What time?
MORTGAGE GUY: 10am works for me.
CARRIE: 10am it is!
Mortgage Guy: Can we definitely meet for coffee late this afternoon, maybe around 3:00pm?
I didn’t ask why, I just went with it….well, sort of. Whatever – I’ll just switch my schedule around for the day.
Nathan:I just got a Valentine’s Day card from an awesome chick!
Carrie:You’re welcome! I’m just waiting on Mortgage Guy….our date, at Starbucks no less, was changed from 10am to this afternoon. What IS HIS DEAL?! Uhg!
Carrie: Technically, it’s strike #2. Remember when he flaked 2 weeks ago? I’m trying to be Zen, and non-judgmental, because Becky knows him and said he is a good guy. We’ll see…..
Carrie: Eh-hem. What are we doing, Goober?
Mortgage Guy: Be there in 20, Geek.
Son of a *bleep*!!!
Seriously! “Around” and “at” have two totally different meanings! God!
I switched into high gear, got ready, jumped into Red Rocket and drove into Starbucks.
I hate being late!
I walk into Starbucks, and he’s sitting at the first table in the corner. We hug, and say hello and proceed to get in line for coffee. While we are standing there, I turn to him and ask him if he’s a flake, and should I be concerned about his lack of attention – maybe has Attention Deficit Disorder…..jokingly of course!
C’mon, he deserved it!
“Well, I figured I’d let you cool off for a while, that’s why I didn’t reply to your text,” he says.
I don’t get off on nailing people to the cross – an acknowledgement, and an apology, goes a LONG way with me. That’s all – it’s really simple. I don’t pout, I don’t hold grudges…just own it, so we can move on.
I did get my apology…and we quickly moved on.
A date? That would probably be helpful, but I’m not going to move back until I get a job offer, or get laid off. Getting laid off is more than likely, but I’m not going to pull the trigger unless I have a job lined up. I’m taking one day at a time.
I have to say I was impressed with his conviction – he said he didn’t want to date a girl who lived out of state. He already had gone through a relationship where a girl who moved to Manchester for him. They eventually broke up, and she blamed him for “screwing up her life” because she had moved to Manchester for him. He didn’t want to do it again.
Ok….excuse me, but really? You are going to label me into the same category as this twit you dated. Really? Me? You get that impression that I’m moving for you? Ha!
Silly boys. See, if he had gotten to know me, he would know that I had already moved for a boyfriend before- years ago, and I would never do it again. No, regardless of whether or not he was in the picture, I was moving