Auditing Cases Frat Stock

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Full file at https fratstock eu,Full file at https fratstock eu. Ta b l e o f co n t e n t s,S e c ti o n,1 Client Acceptance. C a s es inclu de d in t h is Se ction,1 1 Ocean Manufacturing Inc 3. The New Client Acceptance Decision,S e c ti o n,2 Understanding the Client s Business. and Assessing Risk,C a s es inclu de d in t his Se ction.
2 1 Your1040Return com 13, Evaluating eBusiness Revenue Recognition Information Privacy. and Electronic Evidence Issues,2 2 Dell Inc 25,Evaluation of Client Business Risk. 2 3 Flash Technologies Inc 37,Risk Analysis,2 4 Asher Farms Inc 49. Understanding of Client s Business Environment,S e c ti o n. 3 Professional and Ethical Issues,C a s es inclu de d in t his Se ction.
3 1 A Day in the Life of Brent Dorsey 59,Staff Auditor Professional Pressures. 3 2 Nathan Johnson s Rental Car Reimbursement 63,Should He Pocket the Cash. 3 3 The Anonymous Caller 65, Recognizing It s a Fraud and Evaluating What to Do. 3 4 WorldCom 71,The Story of a Whistleblower,3 5 Hollinger International 79. Realities of Audit Related Litigation, Instructor Resource Manual Do Not Copy or Redistribute i.
Full file at https fratstock eu,Ta b l e o f conte nt s. S e c ti o n,4 Accounting Fraud and Auditor Legal Liability. Cas es inc l u de d in t h is Se ct ion,4 1 Enron Corporation and Andersen LLP 89. Analyzing the Fall of Two Giants,4 2 Comptronix Corporation 99. Identifying Inherent Risk and Control Risk Factors. 4 3 Cendant Corporation 111, Assessing the Control Environment and Evaluating Risk of.
Financial Statement Fraud,4 4 Waste Management Inc 119. Manipulating Accounting Estimates,4 5 Xerox Corporation 127. Evaluating Risk of Financial Statement Fraud,4 6 Phar Mor Inc 141. Accounting Fraud Litigation and Auditor Liability,4 7 Satyam Computer Services Limited 157. Controlling the Confirmation Process,S e c ti o n,5 Internal Control over Financial Reporting.
Cas es inc l u de d in t h is Se ct ion,5 1 Simply Steam Co 167. Evaluation of Internal Control Environment,5 2 Easy Clean Co 167. Evaluation of Internal Control Environment,5 3 Red Bluff Inn Caf 177. Establishing Effective Internal Control in a Small Business. 5 4 St James Clothiers 181, Evaluation of Manual and IT Based Sales Accounting System Risks. 5 5 Collins Harp Enterprises 189,Recommending IT Systems Development Controls.
5 6 Sarbox Scooter Inc 197, Scoping and Evaluation Judgments in the Audit of Internal. Control over Financial Reporting,5 7 Soci t G n rale 207. How a Low Risk Trading Area Caused a 7 2 Billion Loss. ii Instructor Resource Manual Do Not Copy or Redistribute. Full file at https fratstock eu,Table o f con t e n t s. S e c ti o n,6 The Impact of Information Technology. C a s es inclu de d in t his Se ction,6 1 Harley Davidson Inc 219.
Identifying eBusiness Risks and Related Assurance Services for. the eBusiness Marketplace,6 2 Jacksonville Jaguars 227. Evaluating IT Benefits and Risks and Identifying Trust Services. Opportunities, Ot he r case s t h at d iscuss topics rel ated to this section. 2 1 Your1040Return com 13, Evaluating eBusiness Revenue Recognition Information Privacy. and Electronic Evidence Issues,5 4 St James Clothiers 181. Evaluation of Manual and IT Based Sales Accounting System Risks. 5 5 Collins Harp Enterprises 189,Recommending IT Systems Development Controls.
9 2 Henrico Retail Inc 291, Understanding the IT Accounting System and Identifying Audit. Evidence for Retail Sales,S e c ti o n,7 Planning Materiality. C a s es inclu de d in t his Se ction,7 1 Anne Aylor Inc 241. Determination of Planning Materiality and Tolerable Misstatement. Ot he r case s t h at d iscuss topics rel ated to this section. 5 6 Sarbox Scooter Inc 197, Scoping and Evaluation Judgments in the Audit of Internal. Control over Financial Reporting,12 1 EyeMax Corporation 399.
Evaluation of Audit Differences,12 2 Auto Parts Inc 409. Considering Materiality When Evaluating Accounting Policies. and Footnote Disclosures, Instructor Resource Manual Do Not Copy or Redistribute iii. Full file at https fratstock eu,Ta b l e o f conte nt s. S e c ti o n,8 Analytical Procedures,Cas es inc l u de d in t h is Se ct ion. 8 1 Laramie Wire Manufacturing 251,Using Analytical Procedures in Audit Planning.
8 2 Northwest Bank 257,Developing Expectations for Analytical Procedures. 8 3 Burlingham Bees 263,Using Analytical Procedures as Substantive Tests. O th e r case s t h at discuss topics rel ated to this section. 1 1 Ocean Manufacturing Inc 3,The New Client Acceptance Decision. 2 3 Flash Technologies Inc 37,Risk Analysis,S e c ti o n. 9 Auditing Cash Fair Value and Revenues,Cas es inc l u de d in t h is Se ct ion.
9 1 Wally s Billboard Sign Supply 271,The Audit of Cash. 9 2 Henrico Retail Inc 291, Understanding the IT Accounting System and Identifying Audit. Evidence for Retail Sales,9 3 Longeta Corporation 297. Auditing Revenue Contracts,9 4 Bud s Big Blue Manufacturing 303. Accounts Receivable Confirmations,9 5 Morris Mining Corporation 309.
Auditing Fair Value,9 6 Hooplah Inc 317, Applying Audit Sampling Concepts to Tests of Controls and. Substantive Testing in the Revenue Cycle, O th e r case s t h at discuss topics rel ated to this section. 4 7 Satyam Computer Services Limited 157,Controlling the Confirmation Process. 8 2 Northwest Bank 257,Developing Expectations for Analytical Procedures. 8 3 Burlingham Bees 263,Using Analytical Procedures as Substantive Tests.
iv Instructor Resource Manual Do Not Copy or Redistribute. Full file at https fratstock eu,Table o f con t e n t s. S e c ti o n,10 Planning and Performing Audit Procedures. in the Revenue and Expenditure Cycles,An Audit Simulation. C a s es inclu de d in t his Se ction,10 1 Southeast Shoe Distributor Inc 329. Identification of Tests of Controls for the Revenue Cycle. Sales and Cash Receipts,10 2 Southeast Shoe Distributor Inc 339.
Identification of Substantive Tests for the Revenue Cycle. Sales and Cash Receipts,10 3 Southeast Shoe Distributor Inc 347. Selection of Audit Tests and Risk Assessment for the Revenue Cycle. Sales and Cash Receipts,10 4 Southeast Shoe Distributor Inc 361. Performance of Tests of Transactions for the Expenditure Cycle. Acquisitions and Cash Disbursements,10 5 Southeast Shoe Distributor Inc 377. Performance of Tests of Balances for the Expenditure Cycle. Acquisitions and Cash Disbursements,S e c ti o n,11 Developing and Evaluating. Audit Documentation,C a s es inclu de d in t his Se ction.
11 1 The Runners Shop 389,Litigation Support Review of Audit Documentation. for Notes Payable, Ot he r case s t h at d iscuss topics rel ated to this section. 9 1 6 Section 9 Auditing Cash Fair Value and Revenues 271. Various Cases,10 1 5 Southeast Shoe Distributor Inc 329. An Audit Simulation, Instructor Resource Manual Do Not Copy or Redistribute v. Full file at https fratstock eu,Ta b l e o f conte nt s.
S e c ti o n,12 Completing the Audit Reporting to,Management and External Reporting. Cas es inc l u de d in t h is Se ct ion,12 1 EyeMax Corporation 399. Evaluation of Audit Differences,12 2 Auto Parts Inc 409. Considering Materiality When Evaluating Accounting Policies. and Footnote Disclosures,12 3 K K Inc 415, Leveraging Audit Findings to Provide Value Added Insights in a. Manufacturing Environment,12 4 Surfer Dude Duds Inc 421.
Considering the Going Concern Assumption,12 5 Murchison Technologies Inc 425. Evaluating an Attorney s Response and Identifying the Proper. Audit Report,12 6 Going Green 435,Sustainability and External Reporting. vi Instructor Resource Manual Do Not Copy or Redistribute. Full file at https fratstock eu,A l p h a b e ti c C a s e I n d e x. 7 1 Anne Aylor Inc 241,3 3 Anonymous Caller The 65. 2 4 Asher Farms Inc 49,12 2 Auto Parts Inc 409,9 4 Bud s Big Blue Manufacturing 303.
8 3 Burlingham Bees 263,4 3 Cendant Corporation 111. 5 5 Collins Harp Enterprises 189,4 2 Comptronix Corporation 99. 3 1 Day in the Life of Brent Dorsey A 59,2 2 Dell Computer Corporation 25. 5 2 Easy Clean Co 167,4 1 Enron Corporation and Andersen LLP 89. 12 1 EyeMax Corporation 399,2 3 Flash Technologies Inc 37.
12 6 Going Green 435,6 1 Harley Davidson Inc 219,9 2 Henrico Retail Inc 291. 3 5 Hollinger International 79,9 6 Hooplah Inc 317. 6 2 Jacksonville Jaguars 227,12 3 K K Inc 415,8 1 Laramie Wire Manufacturing 251. 9 3 Longeta Corporation 297,9 5 Morris Mining Corporation 309. 12 5 Murchison Technologies Inc 425,3 2 Nathan Johnson s Rental Car Reimbursement 63.
8 2 Northwest Bank 257,1 1 Ocean Manufacturing Inc 3. 4 6 Phar Mor Inc 141,5 3 Red Bluff Inn Caf 177,11 1 Runners Shop The 389. 5 6 Sarbox Scooter Inc 197,4 7 Satyam Computer Services Limited 157. 5 1 Simply Steam Co 167,5 7 Soci t G n rale 207, 10 1 Southeast Shoe Distributor Inc Tests of Controls for the Revenue Cycle 329. 10 2 Southeast Shoe Distributor Inc Substantive Tests for the Revenue Cycle 339. 10 3 Southeast Shoe Distributor Inc Audit Tests and Risk Assessment for the Revenue Cycle 347. 10 4 Southeast Shoe Distributor Inc Tests of Transactions for the Expenditure Cycle 361. 10 5 Southeast Shoe Distributor Inc Tests of Balances for the Expenditure Cycle 377. 5 4 St James Clothiers 181,12 4 Surfer Dude Duds Inc 421.
9 1 Wally s Billboard Sign Supply 271,4 4 Waste Management Inc 119. 3 4 WorldCom 71,4 5 Xerox Corporation 127,2 1 Your1040Return com 13. Instructor Resource Manual Do Not Copy or Redistribute vii. Full file at https fratstock eu,Ac k n o w l e d g e m e n t s. We would like to thank our families for their understanding and support while writing this case. book We would also like to thank Jonathan Liljegren for his excellent work in the design and layout. of this casebook as well as Christina Rumbaugh and Stephanie Wall for their editorial support. We are grateful to the research assistants both past and present who have helped write. revise and review the cases in this edition We especially thank Jace Garrett and Aaron Jacob for. their assistance with this latest edition, viii Instructor Resource Manual Do Not Copy or Redistribute. Full file at https fratstock eu,P r e fac e, Auditing educators continue to look for opportunities to increase their emphasis on the development.
of students critical thinking communication and interpersonal relationship skills Development. of these types of skills requires a shift from passive instruction to active involvement of students in. the learning process Unfortunately current course materials provided by many publishers are not. readily adaptable to this kind of active learning environment or do not provide materials that address. each major part of the audit process The purpose of this casebook is to give students hands on. exposure to realistic auditing situations focusing specifically on each aspect of the audit process. This casebook contains a collection of 48 auditing cases that allow the instructor to focus. and deepen students understanding in each of the major activities performed during the conduct. of an audit from client acceptance to issuance of an audit report The cases are designed to engage. the student s interest through the use of lively narrative and the introduction of engaging issues In. some cases supporting material in the instructor notes allows the instructor to create a surprise or. aha experience for the student creating vivid and memorable learning experiences Many of the. cases are based on actual companies some involving financial reporting fraud Several cases give. students hands on experience with realistic audit evidence and documentation. Each case contains a series of questions requiring student analysis with numerous questions. related to the guidance contained in several new authoritative auditing standards including the. PCAOB s recently issued Risk Assessment Auditing Standards up through AS No 15 Audit. Evidence and recent standards issued by the Auditing Standards Board up through SAS No 121. Revised Applicability of SAS No 100 Interim Financial Information The instructor s resource. manual also provides references in the solutions to many of the recently revised SASs that are part. of the ASB s Clarity Project Several cases require students to gain a clearer understanding of the. specific requirements contained in the Sarbanes Oxley Act of 2002 Other cases provide additional. exposure to the role of information technology in today s environment including a focus on Trust. Services One case incorporates actual excerpts from transcripts of testimony provided in court. related to a financial statement fraud to illustrate the importance of following audit principles and. procedures Finally cases new to this edition highlight the challenges of auditing fair value estimates. audit decisions related to the use of sampling when performing tests of controls and substantive. testing audit deficiencies in the highly publicized Satyam fraud and opportunities for providing. assurance on sustainability reports, The cases included in this book are suitable for both undergraduate and graduate students. exposure to realistic auditing situations focusing specifically on each aspect of the audit process This casebook contains a collection of 48 auditing cases that allow the instructor to focus and deepen students understanding in each of the major activities performed during the conduct of an audit from client acceptance to issuance of an audit report The cases are designed to engage the

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