...Comprehensive Case United States Surgical Corporation 1 Running head: COMPREHENSIVE CASE U.S. SURGICAL CORPORATION Comprehensive Case United States Surgical Corporation Scott P. McHone Liberty University Comprehensive Case United States Surgical Corporation 2 Abstract During the past thirty years we have seen an increase in the number of companies that have committed some form of financial shenanigans. Some of these companies have manipulated Generally Accepted Accounting Principles to present themselves as financially sound. Others have committed fraud to achieve the same objective. With this type of corporate behavior there is an increasing need for better auditing and more reliable audited financial statements. The purpose of this paper is to read and study a comprehensive case as presented in the textbook Contemporary Auditing: Real Issues and Cases and answer the questions as listed at the end of the case study. I decided to select case 1.10 United States Surgical Corporation. Comprehensive Case United States Surgical Corporation 3 Comprehensive Case United States Surgical Corporation To fully appreciate this paper it is recommended that the case study along with the associated questions be read prior to reading this paper. Question one from the case study focuses on what audit procedures should have been performed by the auditing firm for the 1981 audit period that would help increase the possibility of detecting the overstatement of the leased and loaned assets due...
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...& the role of the auditor in Bangladesh perspective. To fulfill the report objective, we analyzed & reviewed some of the secondary information available on the internet related to the topic.. Based on our classroom knowledge on the related issues, we tried to make the report as specific and unique as possible. We humbly submit this report for your review and feedback. Preparation of this report demanded a minimum level of working knowledge of the process of audit & assurance . We also tried to follow your instructions properly now and when necessary. We would like to request you to allow us to submit the report. Sincerely Yours’ Group 18 Executive Summary The purpose of this paper is to propose a study on the corporate fraud cases & the role of auditors in Bangladesh perspective. It is tries to find out the reasons behind auditors involvement in the frauds & consequences. For this purpose, we collected & analyzed several research papers & other secondary data like:...
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...CONTEMPORARY AUDITING REAL ISSUES & CASES MICHAEL C. KNAPP SEVENTH EDITION MAKE IT YOURS! SELECT JUST THE CASES YOU NEED Through Cengage Learning’s Make It Yours, you can — simply, quickly, and affordably — create a quality auditing text that is tailored to your course. • Pick your coverage and only pay for the cases you use. • Add cases from a prior edition of Knapp’s Contemporary Auditing. • Add your course materials and assignments. • Pick your own unique cover design. We recognize that not every program covers the same cases and topics in your auditing course. Chris Knapp wrote his case book for people to use either as a core e book or as a supplement to an existing book. If you would like to use a custom auditing case book or supplement the South-Western accounting book you are currently using, simply check the cases you want to include, indicate if there are other course materials you would like to add, and click submit. A Cengage Learning representative will contact you to review and confirm your order. G E T S T A R T E D Visit www.custom.cengage.com/makeityours/knapp7e to make your selections and provide details on anything else you would like to include. Prefer to use pen and paper? No problem. Fill out questions 1-4 and fax this form to 1.800.270.3310. A Custom Solutions editor will contact you within 2-3 business days to discuss the options you have selected. 1. Which of the following cases would you like to include? Section...
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...not even possible to lead a life without communication and that is the reason we see that even the hearing impaired,dumb and visually challenged people learn some way to communicate with the others. In other words, communication is merely an expression of oneself and the exchange of ideas between people. In a day about 70 percent of our time is spent in communicating with the others. It is a well known fact that good communication is the back bone of any organization. Communication can be of different types such as verbal communication, non verbal communication and written communication. In case of verbal communication, it is merely by using speech and language that the communication takes place. In case of non verbal communication, there is no exchange of words, but it may be gestures or signs or facial expressions that are used for communication. In case of written communication, a letter is used to express oneself. This could again either be a hand written letter or a typed letter. A person may have brilliant ideas in his mind, but unless they are communicated to others, it is not possible to implement that idea and it is also difficult to finish all the tasks on one’s own. Good communication skills are an added advantage and people with good communication skills are an asset to any organization as these people can work their way around the others because of their communication skills. Communication is the production and exchange of information...
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...A CONTEMPORARY AUDITING REAL ISSUES AND CASES Seventh Edition Michael C. Knapp University of Oklahoma ; \ 1% SOUTH-WESTERN CENGAGE Learning- Australia • Brazil • Japan • Korea • Mexico • Singapore • Spain • United Kingdom • United States CONTENTS SECTION 1 Comprehensive Cases 1 Case 1.1 Enron Corporation 3 Arthur Edward Andersen established a simple motto that he required his subordinates and clients to invoke: "Think straight, talk straight." For decades, that motto sewed Arthur Andersen & Co. well. Unfortunately, the firm's association with one client, Enron Corporation, abruptly ended Andersen's long and proud history in the public accounting profession. K Y TOPICS: history of the public accounting profession in the United States, scope of E professional services provided to audit clients, auditor independence, and retention of audit workpapers. ; Case 1.2 Just for FEET, Inc. 23 In the fall of 1999, just a few months after reporting a record profit for fiscal 1998, Just for Feet collapsed and filed for bankruptcy. Subsequent investigations by law enforcement authorities revealed a massive accounting fraud that had grossly misrepresented the company's reported operating results. Key features of the fraud were improper accounting for "vendor allowances" and intentional understatements of the company's inventory valuation allowance. K Y TOPICS: applying analytical procedures, identifying inherent risk and control risk E factors, need for auditors to monitor...
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...STUDY HABITS AND ACADEMIC ACHIEVEMENT OF GRADE SIX PUPILS IN PUBLIC ELEMENTARY SCHOOLS OF PUERTO GALERA DISTRICT A Thesis Presented to the Graduate School Faculty Southwestern Institute of Business and Technology In Consortium with Rizal Technological University In Partial Fulfillment of the Requirement for the Degree Master of Educational Management By: MA. CRISTINA C. CENIZA 2013 CHAPTER I THE PROBLEM AND ITS SETTING Introduction If quality education depends on the effective of the teaching, learning process, therefore, study habits is important factors that will be needed to upgrade the academic performance of the students. Quality of education is reflected through academic achievement which is a function of study habits and study attitude of the students. Thus to enhance the quality of education, it is necessary to improve the study habits and study attitudes of the students. To improve study habits and academic achievement of students, there are factors needed to be identified which affect these characteristics adversely. This factors lead to the development of good study habits and academic achievement of the pupils, well organized guidance services are needed in schools. According to Disraeli, “Every production of a genius must be the production of enthusiasm”. This quotation suggests that enthusiasm should have enumerated from the individual since the start of his life in school. Moreover...
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...CHAPTER 1 INTRODUCTION 1.1 Research Background The auditor’s roles are to provide an opinion on financial statement and to ensure that the statements are based on true and fair image of company performance to the stakeholders. They are authorized in checking the accuracy of business records. Opinions given by the auditor gives an added credibility to the financial statements (Maqableh, 2014). Commonly, investors often rely on financial statements provided by auditor in making investment judgement and increase the productivity of financial markets. Financial statements provided by the auditors are often reviewed as credible, unbiased opinion that truly reflects the company financial positions. There’s no doubt that auditor independence is the core of auditing profession when establishing its objectivity and integrity. Auditor independence, in particular, indicates the ability of an auditor to disregard any influence or control when conducting an opinion (AAA, 1973). Therefore, auditor must be, and must be seen to be independent of company management. Lack of independence causes audits to be considered to have little value (Johnstone, Sutton, & Warfield, 2001). This is further supported by Elliott and Jacobson (1998) that a particular interest may trigger a risk that could weaken the outcome of the audit which in turn impairs the auditor independence. Hence, independence is fundamental to the purpose served by auditors (Moore et al., 2002). This study is limited to...
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...The impact of information technology on the HR function transformation By Yu Long 0123404 Graduation Committee: First supervisor: Dr. T. Bondarouk Course coordinator: Pro. Dr. J. K. Looise Master Thesis, Business Administration HRM University of Twente March, 2009 Preface This master thesis concludes my life as a student, which is performed under the supervision of Twente University in the Netherlands. The research is the terminal of the program Human Resource Management. Doing this research not only improves my skill on literature searching, information analysis, but helps me to gain more profound knowledge about e-HR. During the research, I have got great support from several persons, and now, here is the opportunity to thank them. At first, I give special thanks to Jiajie Li, my boyfriend. He accompanies with me during the whole research period. Besides dealing with my impatient and anxious attitude, he also put great effort on improving my thesis. His optimistic and serious attitude influences me, and makes me continue the research with better and better results every time. His support is very meaningful for my research period. Secondly, I would like to thank Ms. Tanya Bondarouk, and Prof. Jan Kees Looise for their excellent support, feedback and guidance. Both of them give me fruitful advice on how to improve my work. And they always give me timely feedback on my work, which encourages and makes me belief that I can hand in a satisfactory report under the effort...
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...“STUDYING THE ROLE OF AGE IN THE RELATIONSHIP OF EMOTIONAL INTELLIGENCE AND CONFLICT RESOLUTION STYLES IN THE IT PROFESSION” A PROJECT REPORT SUBMITTED BY SHRUTI SIAG FOR THE PARTIAL FULFILMENT OF THE REQUIREMENT OF THE AWARD OF THE DEGREE OF M.A. IN PSYCHOLOGY AT FERGUSSON COLLEGE PUNE - 411004 (2010-11) Declaration I, Ms Shruti Siag a student of M.A. from the Department of Psychology, Fergusson College, Pune University, declare that the following report of a project titled “STUDYING THE ROLE OF AGE IN THE RELATIONSHIP OF EMOTIONAL INTELLIGENCE AND CONFLICT RESOLUTION STYLES IN THE IT PROFESSION” is an independent work done by me and submitted as the partial fulfilment of the requirement for the award of the degree of M.A. in Psychology under the University of Pune. Signature: Name: Shruti Siag D.E. Society’s Fergusson College, Pune Certificate This is to certify that Shruti Siag has successfully completed the project named “Studying the role of Age in the relationship of Emotional Intelligence and Conflict Resolution Styles in the IT profession” Towards the partial completion of M. A. (Psychology) Course of the University of Pune, in the academic year 2009-2010. Dr. Shobhana AbhayankarHead of the DepartmentDept. of PsychologyFergusson CollegePune-411004 | Prof. Anand. S. GodseProject In-chargeDept. of PsychologyFergusson CollegePune-411004 | ACKNOWLEDGEMENTS This...
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...Case Study: Lincoln Savings and Loan Association In 1978, Charles Keating, Jr. began focusing his time and energy on his business endeavours when he founded the real estate firm, American Continental Corporation (ACC). Six years later, ACC acquired Lincoln Savings and Loan Association, which was headquartered in Phoenix, although its principal operations were in California. In his application to purchase Lincoln, Keating pledged to regulatory authorities that he would retain the Lincoln management team, that he would not use brokered deposits to expand the size of the savings and loan, and that residential home loans would remain Lincoln's principal line of business. After gaining control of Lincoln, Keating replaced the management team; began accepting large deposits from money brokers, which allowed him to nearly triple the size of the savings and loan in two years; and shifted the focus of Lincoln's lending activity from residential mortgage loans to land development projects. On 14 April 1989, the Federal Home Loan Bank Board (FFILBB) seized control of Lincoln Savings and Loan, alleging that Lincoln was dissipating its assets by operating in an unsafe and unsound manner. On that date, Lincoln's balance sheet reported total assets of $5.3 billion, only 2.3 percent of which were investments in residential mortgage loans. Nearly two-thirds of Lincoln's asset portfolio was invested directly or indirectly in high-risk land ventures and other commercial development projects. At...
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...Chapter 2 THE AUDIT MARKET Revision: 11 September 2012 2.1 Learning Objectives After studying this chapter, you should be able to: 1. Distinguish between different theories of audit services including agency theory. 2. Understand drivers for audit regulation. 3. Understand the role of public oversight. 4. Distinguish between different audit firms. 5. Identify some current developments in the audit market. 6. Portray the series of industry codes of conduct and guidance 2.2 Introduction The emergence of today’s auditors happened during the Industrial Revolution that started in Great Britain around 1780. This revolution led to the emergence of large industrial companies with complex bureaucratic structures and, gradually, the need to look for external funds in order to finance further expansion: the separation between capital provision and management. Both developments resulted in demand for the services of specialists in bookkeeping and in auditing internal and external financial representations. The institutionalization of the audit profession was then merely a matter of time. Management Controls Operations and Communications Management has control over the accounting systems and internal controls of the enterprises that auditors audit. Management is not only responsible for the financial and internal control reports to investors, but also has the authority to determine the precise nature of the representations that go into those reports. However, management...
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...Introduction................................................................................................................ 1 1.1. 1.2. 1.3. 1.4. 2. Problem statement................................................................................................ 3 Definitions and clarifications ............................................................................... 3 Delimitations ....................................................................................................... 4 Evaluation of sources ........................................................................................... 4 Literature review ........................................................................................................ 5 2.1. 2.2. 2.3. Mergers and acquisitions activity in recent years .................................................. 5 Overview of efficient market hypothesis .............................................................. 7 Abnormal operating performance ......................................................................... 9 3. Event study approach ............................................................................................... 12 3.1. 3.2. Event study technique ........................................................................................ 12 Test statistics ..................................................................................................... 14 Parametric tests...
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...“WHO’S THERE?” Differences in the Features of Telephone and Face-to-Face Conferences Dorothea Halbe University of Trier A significant part of the work in business settings, especially in multinational projects, is done through talking over the phone in conference calls. The differences in the setting in comparison with face-to-face meetings create a new dynamic of talk and turn taking because of the lack of body language. This article analyzes a number of the differences between these two types of meetings, using a corpus of (International) Business English, in which the multinational participants discuss an information technology research project. English is used as a lingua franca among participants from different companies and different nationalities (e.g., Dutch, German, Italian, Spanish). Features studied include self-identification, the number of turns, interruptions, overlaps, back-channeling behavior, pauses, side comments, small talk, breaks, distribution of talk, meeting structure, and length of conferences. The findings show that because of the lack of body language signals, there are differences in most of these features, for example, fewer interruptions, overlaps, and pauses in concalls than in face-to-face meetings. Small talk is restricted to the end or beginning of calls if it happens at all, side comments do not happen among the participants but may occur with people outside the conference. Back channels occur more frequently in conference calls, as they...
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...Resources Equal Opportunities Commission Arndale House Arndale Centre Manchester M4 3EQ Email: research@eoc.org.uk Telephone: 0161 838 8340 Website: www.eoc.org.uk/research You can download a copy of this report as a PDF from our website, or call our Helpline to order a copy: Website: Email: Helpline: www.eoc.org.uk/research info@eoc.org.uk 0845 601 5901 (calls charged at local rates) Interpreting service available for callers to the Helpline Typetalk service available: 18001 0845 601 5901 CONTENTS TABLES AND FIGURES ACKNOWLEDGEMENTS EXECUTIVE SUMMARY 1 2 INTRODUCTION Page iii iv v 1 SEXUAL HARASSMENT AND BULLYING 5 2.1 Relationship between sexual harassment and workplace bullying 5 2.2 Power and 'organisational violation' 6 2.3 Forms of sexual harassment 8 2.4 How big a problem is sexual harassment in...
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...AN ANALYSIS: HTC, THE INDUSTRY AND TAIWAN GROUP PROJECT JAPAN & THE FOUR ASIAN TIGERS SMARTPHONE TABLE OF CONTENTS INTRODUCTION ......................................................................... 3 1 Taiwan's Economic History ............................................................ 4 2 Impact of Globalization on Taiwan .................................................. 5 3 PESTEL- Analysis of Taiwan .......................................................... 6 3.1 Political Aspect ............................................................................... 6 3.2 Economic Aspect ............................................................................. 6 3.3 Social Aspect .................................................................................. 6 3.4 Technological Aspects ...................................................................... 7 3.5 Environmental Aspects ..................................................................... 7 3.6 Legal Aspects ................................................................................. 8 4 Financial Markets of Taiwan .......................................................... 8 4.1 Taiwan Stock Exchange .................................................................... 8 4.2 The Bonds Market ........................................................................... 9 4.3 The Inflation Rate in Taiwan .............................................................. 9 5 The Smartphone...
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