Top Tutors
The team is composed solely of exceptionally skilled graduate writers, each possessing specialized knowledge in specific subject areas and extensive expertise in academic writing.
Order for this Paper or Similar Assignment Writing Help
Click to fill the order details form in a few minute.
Posted: April 20th, 2022
This week’s discussion questions are related to two mini cases:
1
This week’s discussion questions are related to two mini cases:
Case 1: Each year Susan Riley, president of Bargon Construction, Inc., take a three-week vacation to Hawaii and signs several blank checks to pay major bills during the period in which she is absent. Riley’s vacation often occurs near the end of Bargon’s fiscal reporting period because it is a slack time for the construction business. Jack Morgan, head bookkeeper for the company, uses this practice to his advantage. He makes out a check to himself for the amount of a large vendor’s invoice and records it as a payment to the vendor for the purchase of supplier. He holds the check for several weeks to make sure the auditors will not examine the canceled check. Shortly after the first of the year, Morgan resubmits the invoice to Riley for payment approval and records the check in the cash disbursements journal. At that point, he marks the invoice as paid and files it with all other paid invoices. Morgan has been following this practice successfully for several years and feels confident that he has developed a foolproof fraud.
Case 1 Questions
What is the auditor’s responsibility for discovering this type of fraud?
What deficiencies exist in the client’s internal controls?
What substantive audit procedures are likely to uncover the fraud?
Case 2: The auditor has always received cooperation from a particular client and has no reason to question management’s integrity. The controller has requested that the auditor inform her about which warehouse locations that the auditor will visit during the upcoming inventory count. In addition, the controller has requested copies of the auditor’s observations on the physical inventory because she wants to make sure that a good inventory was taken. Should the auditor comply with these requests? State your rationale, including a discussion of professional skepticism.
————
1
The discussion questions for this week are based on two mini cases:
Case 1: Susan Riley, president of Bargon Construction, Inc., takes a three-week vacation to Hawaii every year and signs several blank checks to pay major bills while she is away. Riley’s vacation usually falls near the end of Bargon’s fiscal reporting period, when the construction industry is at its slowest. This is something that Jack Morgan, the company’s head bookkeeper, takes advantage of. He writes himself a check for the amount of a large vendor’s invoice and records it as a payment to the vendor for the supplier purchase. He keeps the check for a few weeks to make sure the auditors don’t look at it.
Study Notes & Homework Samples: Kindly read this discussion post and respond based on that. »Previous PostWhy Choose our Custom Writing Services
We prioritize delivering top quality work sought by students.
Discounted Pricing
Our writing services uphold the utmost quality standards while remaining budget-friendly for students. Our pricing is not only equitable but also competitive in comparison to other writing services available.
0% similarity Index
Guaranteed Plagiarism-Free Content: We assure you that every product you receive is entirely free from plagiarism. Prior to delivery, we meticulously scan each final draft to ensure its originality and authenticity for our valued customers.
How it works
When you decide to place an order with Dissertation Help, here is what happens:
Expert paper writers are just a few clicks away
Place an order in 3 easy steps. Takes less than 5 mins.