The approach used by Thibodeau and Freier emphasizes the substantial benefits of using real-life case examples in helping to impart knowledge related to the practice of auditing. For the fourth edition of Auditing and Accounting Cases: Investigating Issues of Fraud and Professional Ethics the authors continue their quest to be known as the most current auditing and accounting case book on the market. In that spirit, all case questions in the fourth edition have been revised to incorporate the eight new standards adopted by the PCAOB (i.e., AS 8 - AS 15) that relate to the auditor’s assessment of and response to risk in an audit and that include guidance related to audit planning, supervision, materiality, and evidence.
This flexible case book is perfect for educators to prepare future audit professionals with 45 cases focusing on specific and relevant audit issues. These cases focus on specific auditing issues directly impacted by Sarbanes Oxley and Dodd-Frank, using the actual companies-Madoff, Enron, WorldCom, Quest, Sunbeam-that have become synonymous with the capital markets’ crisis in confidence.
Contents
Section 1 Fraud Cases: Violations of Accounting Principles
- Case 1.1 Waste Management: The Matching Principle
- Case 1.2 WorldCom: The Revenue Recognition Principle
- Case 1.3 Qwest: The Full Disclosure Principle
- Case 1.4 Sunbeam: The Revenue Recognition Principle
- Case 1.5 Waste Management: The Definition of an Asset
- Case 1.6 Enron: The Revenue Recognition Principle
- Case 1.7 WorldCom: The Matching Principle
- Case 1.8 Bernard L. Madoff Investment and Securities: Broker-Dealer Fraud
- Case 1.9 Qwest: The Revenue Recognition Principle
- Case 1.10 The Baptist Foundation of Arizona: The Conservatism Constraint
- Case 1.11 WorldCom: The Definition of an Asset
- Case 1.12 Bernard L. Madoff Investment and Securities: The Role of the Securities & Exchange Commission (SEC)
Section 2 Ethics and Professional Responsibility Cases
- Case 2.1 Enron: Independence
- Case 2.2 Waste Management: Due Care
- Case 2.3 WorldCom: Professional Responsibility
- Case 2.4 Enron: Quality Assurance
- Case 2.5 Sunbeam: Due Care
- Case 2.6 Bernard L. Madoff Investment and Securities: A Focus on Auditors’ and Accountants’ Legal Liability
- Case 2.7 Enron: Audit Documentation
Section 3 Fraud and Inherent Risk Assessment Cases
- Case 3.1 Enron: Understanding the Client’s Business and Industry
- Case 3.2 The Baptist Foundation of Arizona: Related Party Transactions
- Case 3.3 WorldCom: Significant Business Acquisitions
- Case 3.4 Sunbeam: Incentives and Pressure to Commit Fraud
- Case 3.5 Qwest: Understanding the Client’s Business and Industry
- Case 3.6 Bernard L. Madoff Investment and Securities: A Focus on Related Party Transactions
- Case 3.7 Waste Management: Understanding the Client’s Business and Industry
Section 4 Internal Control Systems: Entity-Level Control Cases
- Case 4.1 Enron: The Control Environment
- Case 4.2 Waste Management: General Computing Controls
- Case 4.3 The Baptist Foundation of Arizona: The Whistleblower Hotline
- Case 4.4 WorldCom: The Internal Audit Function
- Case 4.5 Waste Management: Top-Side Adjusting Journal Entries
Section 5 Internal Control Systems: Control Activity
- Case 5.1 The Fund of Funds: Valuation of Investments
- Case 5.2 Enron: Presentation and Disclosure of Special-Purpose Entities
- Case 5.3 Sunbeam: Completeness of the Restructuring Reserve
- Case 5.4 Qwest: Occurrence of Revenue
- Case 5.5 The Baptist Foundation of Arizona: Presentation and Disclosure of Related Parties
- Case 5.6 Waste Management: Valuation of Fixed Assets
- Case 5.7 Qwest: Occurrence of Revenue
Company Cases
- Case 1 Enron
- Case 2 Waste Management
- Case 3 WorldCom
- Case 4 Sunbeam
- Case 5 Qwest
- Case 6 The Baptist Foundation of Arizona
- Case 7 The Fund of Funds
Book Details
- Paperback: 288 pages
- Publisher: McGraw-Hill/Irwin; 4 edition (March 18, 2013)
- Language: English
- ISBN-10: 0078025567
- ISBN-13: 978-0078025563
- Product Dimensions: 0.5 x 6.1 x 8.9 inches
- List Price: $76.33