the case study is attached and the questions are in the attachment aswell. The contemporary issues q1,2,3 are to be answered.

Home Search Bookshelf Settings PDF When did Deloitte advise the directors of control weaknesses in their management control systems that allowed managers to manipulate sales figures and stock purchases to meet budget expectations rather than manage the business to real market demand? Were the directors trading while Dick Smith was insolvent? These questions will need answers. The Dick Smith saga is far from over. Source: Roman Lanis. Brett Givendir & Peter Wells. 'Some answers. more questions over Dick Smith failure', The Conversation. QUESTIONS 1. This article explicitly refers to earnings management research. How has this research been used in this article to assist in explaining the Dick Smith failure? 2. The article states "If one subscribes to the conclusions within accounting research'. This proviso implies that others may question the conclusions of the research used in this article. Can you think of reasons why particular theories or research would not be accepted? 3. This article states that the auditors, Deloitte, questioned the rebates, realised that inventory values were too high, yet certified that the company was a going concern. A review of the 2015 annual report indicates that inventory represented almost 60% of total assets and was twice the net asset amount. However, in this report there is no mention of these rebates or their impact on profit and the audit report does not suggest any issues of concern. Referring to the previous definition of professional judgement in this chapter, in your opinion what elements in that definition may not have adequately been practiced? 1.6 The case study approach LEARNING OBJECTIVE 1.6 Understand the case study approach and the steps to take in answering case study questions. Throughout this text, case studies will be used that will allow you to practice critical thinking and assist you to develop the skills that accountants require in practice. This section explains what case studies are, why these have been used and outlines a framework to use when answering case study type questions. What is a case study and why are they used? A case study involves a description of a scenario or situation, within a particular discipline context. Case studies provide an opportunity to