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Accounting Case Mha

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Under the current situation, there are two choices the auditor faces. Option one is to assist Susan in consolidating her financial statements, mainly by walking her through the process of closing the decorative pillow department and helping estimate the costs associated with doing so. While the second option is to refuse Susan of any more assistance on this matter with the reason being that you are not MHA’s accountant but an auditor working for the general public. Both choices seem viable but if I were the auditor in this matter, I would refuse to provide any more assistance because I feel providing too much guidance to Susan would be challenging the integrity of the auditing process as a whole. There are pros and cons to both options. Firstly, if the auditor were to assist Susan in preparing the financial statements, there would be an immediate benefit in that it would be much easier to perform this year’s audit on the firm because the auditor will have assisted in generating the numbers being reviewed. Moreover, the auditor could set a precedent on how the firm prepares their financial statements thus allowing easier traceability of errors should they arise and thus leading to an easier auditing process for the years to come. Also from the auditor’s point of view, doing a favor for a firm like NYH could have potential benefits in the near future. These benefits could be things like potential future employment of said auditor, or even perhaps discounts on consumer goods for that specific auditor from the firm he or she helps. But while these seem like great benefits, there are costs to helping Susan prepare her financial statements, the main one being challenging the integrity of the auditing process by assisting in the preparation of the very thing the auditor is supposed to be scrutinizing. Doing so could have major consequences if they were to prove that...

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