consider the integrity and attitude of management‚ influential personalities likely to have vested interest‚ management experience and knowledge of the finance team‚ and the level of pressure management is under to perform. During the audits of Comptronix the factors that I think were present to indicate a high inherent audit risk is mainly the influence of the three leaders with a significant vested interest. Not only did they have a significant amount of stock in the company they were also the
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Case 4.2 Comptronix Corporation identifying inherent risk and control risk factors Mark S. Beasley Frank A. Buckless Steven M. Glover Douglas F. Prawitt it was 9:30 A.M. on a monday morning when the call came through. "hi dr mitchell‚ do you have a minute? "sure" the professor replied "i am on of your former students‚ but if you don ’t mind‚ i would prefer to remain anymous. i think it is best for both us if i not reveal my name or my company to you. i am concerned that the
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A439: Advanced Auditing Accounting and Review Services Take Home Quiz February 6‚ 2008 Instructions: 1. On the Scantrom form in box labeled “Test No.” print “Review Services.” 2. Use the Scantron form to indicate your answers to the questions below. 3. Turn-in the Scantron sheet on the due date. 4. Open book‚ open note‚ online searches are all allowed. 5. NOT allowed – using other students‚ people or CPA exam review books. Suggestion: If you plan to take the Auditing portion of the CPA
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Comptronix Case B. The most valuable ratio that could have been used by the auditor to detect fraud would have been the inventory turnover ratio. This ratio shows the sales in comparison to the total inventory on hand. They would have been able to see the significant decline in this ratio and been able to suspect that there was an error in inventory. The inventory would have been going up but the sales did not due to the factitious invoices. Another ratio that would be beneficial
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Review Paper Case IH MX 305 Jon Hansen When you see a Case IH 305 plowing in the field there is more than what meets the eye. First off most people just notice the red color and never give it a second look‚ but there are so many things that you are overlooking. The Case IH MX 305 Magnum is a powerful machine. It is the second biggest front wheel assist tractor in the Case IH line up. It has right around three hundred horsepower. It is a nice sized tractor that can do just about everything
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CASE 14-2: TRIGO EXPORT CO.‚ LTD. The pricing of products for export sale is covered here‚ with logistics practices and costs having considerable influence. Question 1: Ziola’s export packaging materials consisted of at least 40% recycled contents. Should this be mentioned in the quotation given to the potential Brazilian buyer? It would not hurt in case somebody reviewing the bid happened also to be interested in environmental protection. However‚ note that they are buying tractors to use in
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Strategic Management (Spring 2013) Case Analyses—Schedule‚ Format‚ and Required Items Per the syllabus‚ p. 4-5‚ you must submit three (3) written Case Analyses. Each of these case analyses (papers) is worth a maximum of 100 points. Below the cases are grouped into UNIT 1‚ UNIT 2‚ and UNIT 3 case options. You must complete one (1) case paper from EACH of these Units (3 case papers total). No late cases will be accepted for a grade. NOTE: The first case appearing on the Course Schedule (Feb
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components of the audit risk model is inherent risk. Describe typical factors that auditors evaluate when assessing inherent risk. With the benefit of hindsight‚ what inherent risk factors were present during the audits of the 1989 through 1992 Comptronix financial statements? Inherent risk is a measure of the auditor’s assessment of the susceptibility of an assertion to a material misstatement assuming there are no related internal
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to identify whether there is common agreement in the literature on warehouse design approaches and thus whether some basic steps could be used as an overall framework in the warehouse design process. III. Objectives The main issue regarding the case company of this study is to find ways to improve warehouse cycle times through reorganization of order processing and materials handling activities. The primary objective of this study is to construct a warehouse design framework for cycle time
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Case Study: The Corporation 1. In the mid 1800s the corporation emerged as a "legal person" by way of maneuvering in the legal system. For the next 100 years we saw the rise to dominance of the corporation. The corporation created unprecedented wealth but at what cost? The externalities of corporate operations are responsible for countless cases of illness‚ death‚ poverty‚ pollution‚ exploitation and lies. Voice your opinion on this. Who Is Responsible for regulating these Corporations?‚ The Government
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