• Zzzz Best Fraud
    ZZZZ Best Company Fraud Case Study 1) At an early age, Barry Minkow was introduced to the carpet cleaning industry by his mother who worked part time as a telephone solicitor for a small carpet cleaning company. This insight of the industry allowed Minkow to understand that the carpet cleaning industry...
    Premium 1765 Words 5 Pages
  • Zzz Company
    This type of review report does not provide enough assurance that is needed in order to have a better understanding made by management. In the case of ZZZZ Best, Minkow retained Ernst & Whinney to perform the following year’s audit. However, instead of performing an Audit, they decided to provide a...
    Premium 1253 Words 4 Pages
  • Case 1.9
    Case 1.9 Question 1: Ernst & Whinney never issued an audit opinion on financial statements of ZZZZ Best but did issue a review report on the company’s quarterly statements for the three months ended July 31, 1986. How does a review differ from an audit, particularly in terms of the level of assurance...
    Premium 482 Words 2 Pages
  • Zzzz Best
    ZZZZ Best, Inc. The start of ZZZZ Best: ZZZZ Best started as a carpet cleaning company. Barry Minkow founded ZZZZ Best in his parents’ garage in 1982 when he was only sixteen years old. Due to high competition in the industry, low enter barriers, and bad internal control, this young entrepreneur...
    Premium 2742 Words 7 Pages
  • 1.9 Zzzz
    Case 1.9 Question 1: Ernst & Whinney never issued an audit opinion on financial statements of ZZZZ Best but did issue a review report on the company’s quarterly statements for the three months ended July 31, 1986. How does a review differ from an audit, particularly in terms of the level of assurance...
    Premium 299 Words 1 Pages
  • Zzzbest
    ZZZZ Best Case Assignment #2 Question 1: 15 points AU Section 315 Communications Between Predecessor and Successor Auditors .01-.13Using the facts from the ZZZZ Best case and professional guidance from AU Section 315, explain the following: A. As the successor auditor, what was E&W supposed to...
    Premium 2259 Words 6 Pages
  • Zzzz Best
    facts from the ZZZZ Best case and professional guidance from AU Section 315, explain the following: A. As the successor auditor, what was E&W suppose to do before they accepted ZZZZ Best as an audit client in regards to Greenspan? Summarize in enough detail Au 315.03-.06. In your answer give and support...
    Premium 815 Words 3 Pages
  • knapp case 1.9
    Knapp Case 1.9- ZZZZ Best Company, Inc. 1. A review consists of an auditor performing analytical procedures and inquiries to provide a reasonable basis for obtaining limited assurance. In a review, the auditor does not give an opinion on the financial statements. He/she merely looks over the statements...
    Premium 901 Words 3 Pages
  • Miniscribe
    Chapter 7 Internet Cases Internet Case 7.1 The following exhibit summarizes three well-known fraud cases. Exhibit: Some noted cases of “cooking the books” Case 1—MiniScribe Corp. In the mid-1980s, much of the personal-computer industry was slumping. MiniScribe Corp., a disk-drive maker...
    Premium 1259 Words 4 Pages
  • zzzz best company case study
     ZZZZ BEST COMPANY, INC. Source: Contemporary Auditing: Issues & Cases - Michael Knapp On May 19, 1987, a short article in The Wall Street Journal reported that ZZZZ Best Company, Inc., of Reseda, California, had signed a contract for a $13.8 million insurance restoration project. This project...
    Premium 6886 Words 20 Pages
  • Zzzzbest
    ZZZZ BEST COMPANY, INC. Source: Contemporary Auditing: Issues & Cases - Michael Knapp On May 19, 1987, a short article in The Wall Street Journal reported that ZZZZ Best Company, Inc., of Reseda, California, had signed a contract for a $13.8 million in¬surance restoration project. This project...
    Premium 7019 Words 20 Pages
  • Zzzz Best Case
    ZZZZ Best case case1.9 Q1 There are three different levels of services you could obtain from a certified public accountant. These are referred to as compilation, review, and audit. There are significant differences between the objectives of an audit of financial statements in accordance with generally...
    Premium 1038 Words 3 Pages
  • Auditing Cases
    details. Auditing Cases, Eighth Edition Michael C. Knapp Licensed to: iChapters User SECTION 1 COMPREHENSIVE CASES Case 1.1 Enron Corporation Case 1.2 Just for FEET, Inc. Case 1.3 AMRE, Inc. Case 1.4 ESM Government Securities, Inc. Case 1.5 United States...
    Premium 75128 Words 302 Pages
  • Zzzz Best Company, Inc.
    ZZZZ Best company is one of the biggest examples of Accounting Frauds. The founder of ZZZZ best was Barry Minkow. He was a very smart young entrepreneur when he started the company. He was involved in credit card forgeries prior to starting his own carpet cleaning business “ZZZZ Best Company”. Minkow...
    Premium 1013 Words 3 Pages
  • Entrepreneurs - Are They 'Born' or 'Made'?
    consensus of 35 IS dilemmas, Parker claims that the seven ethical codes of the Institute for Certification of Computer Professionals (ICCP) are the best matched with his findings. These seven codes are accountability, conflict of interest, disclosure, personal conduct, protection of privacy, integrity...
    Premium 3076 Words 10 Pages
  • Zzzz Best
    Topic: ZZZZ Best Company One of the most elaborate and frauds in the United States corporate history was done by a man named Barry Minkow during the 1980s. At the age of 12 Barry got involved with the carpet cleaning business through his mother. One of the good things for a young person of Barry’s age...
    Premium 910 Words 3 Pages
  • ratio
    make sense. The inescapable logic of the accounting equation ensures that any major overstatement of assets or profits, such as in the infamous ZZZZ Best case, will show up over time. Days’ Sales in Receivables Index This sales index (or ratio) measures whether receivables and revenues are in or out...
    Premium 2147 Words 12 Pages
  • Exam 2
    • Short-answer and essay questions will integrate cases with course material covered in the chapters and/or require to you to complete tasks similar to in-class activities. Points possible | Part 1: Multiple Choice (65 questions, 1 point per question) | 65 points | Part 2: Short-Answer and Essay...
    Premium 3860 Words 15 Pages
  • Zzzz Best
    ZZZZ Best Company Inc. Introduction This paper explores the ZZZZ Best Company which was begun by a 16 year old individual who was able to pull the wool over the eyes of many customers, investors and auditors. This paper will define the difference between review and audit when it comes to financial...
    Premium 3666 Words 10 Pages
  • Zzzz
    CASE 1.9 ZZZZ Best Company, \nc. On May 19,1987, a short article in The Wall Street Journal reported that ZZZZ Best Company, Inc., of Reseda, California, had signed a contract for a $13.8 million insurance restoration project. This project was just the most recent of a series of large restoration...
    Premium 3834 Words 42 Pages