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Expert: Don Sadler - 12/14/2007


Question
When a publicly traded company issues it's financials or announces profits, they usually announce profits or losses.  When you hear on tv or read in the paper that a certain company's profits were reported to have increased by 5%, does that mean they've increased 5% in comparison to the same period the prior year OR they've increased profits 5% during that time period?

Answer
It could ean any of these depending on centext.  You will hardly ever see a statement such as "profits have increased by 5%" without some qualification.  Qualifications can be:

1) Compared to the same period the prior year.

2) Increased over projected profit.

3) Or they've increased during that time period.

Always need to read the details.

Auditing

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Don Sadler

Expertise

I can answer regarding Internal Auditing - especially operational audits, audit management, and how to revitalize a dysfunctional audit department. Also give advice to "auditees" on how to deal with auditors.

I DO NOT ANSWER HOMEWORK OR CLASS PROJECT QUESTIONS. For those answers, I suggest you scan previously asked questions and search on your favorite search engine.

I ALSO DO NOT ANSWER TAX QUESTIONS AS THIS IS NOT WITHIN MY EXPERTISE. NOTE: I am not an accounting expert although i will try to help if I can... ask at your own risk.

Experience

I have worked in the public and private business management arena with experience in OMB, Resource Management, Internal Auditing and consulting. I am a former President of the Inland Empire Chapter Institute of Internal Auditors, previously held Director positions in the Orange County Information Systems Audit and Control Association and the Northern Telecom International User's Association. I am a Certified Fraud Examiner and a Certified Information Systems Auditor.

Organizations
Institute of Internal Auditors, Association of Certified Fraud Examiners, and Information Systems Audit and Control Association (ISACA)

Education/Credentials
MBA, CISA, CFE

Founder and Principal of Applied INTEGRITY Management Consulting Group

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