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12. Car Studies Phu Soring all perintah Below are some of case studied in class. Mae teadach case.malyae the facts, and provide a hnefelt the problem During the aude of public company, the ansatyafogantimallines of wuthority and the use of winemal controle de her ang department pelet under the lifetime of the parts agent Acent Payable purtant employees had alue been instructed to accept informasi memoranda from the purchasing agent, evidence of this and propriety of As dit would you soept this angements and teammentform contul plan decrease in the bed ABC Corp. was able investments with over 1 bile in clients. On January 3019. Sam Wings we appointed and Chairman of the Bount Under liebenship the limundo rey vermeendeling og betale for the firm's imments. There wereld loss dan investice grade As the animated in these risky financial instrumenter the the chief rink officer CRO)made series of presentations to the Board of Directores describing the risks related to the vetmese strategy. Water and the Board of Directo concluded that the potential rinks powered by the CRO plenible soy thereafter the CRO teplaced with mother der Cappeared to less comes the solved in management In hun of that had insignificant met de including the hundreds of investor funds that were apped to her pregled Sohequently ABC Corp coledandfied for bankruptcy Please identity the weaknees animemalol hased on the facts above and describe how these deficiencies should have bees voided Deing an audit of the XYZ Carthenocive bancarimate confirming that wholly-owned absidiary held the equivalent of 5 illi abitable contes in Chashank New York City, the bank of the date est Given that we decent company.com is the mail confirmat what is a place for how this might he curred in could this mistake have beended Peased D. Sally Smith was the Treasure of Cyptal Ms. Smile perpetrated a $13 m trudover at your period. There was accomplished the secret bank account Invoices for the Hopital Peles Reserve Ace writing checks in payment from one of the Hopital becomes, and pallete Te She would the depthe check Additionally, the pare bank de salle intomal controls, and how the University Hospital might have prevented such a loss F. The auditors of JKL Company are about to conclude their audit. Before they completely finish, they observe a pre-publication copy of the company's annual report to shareholders in the CFO's office. In the annual report the auditors read that the company is seeking to expand its operation by acquiring a small firm. Should the auditors react to this information? What ought they do? III. Auditing-in-the-news (10 points total, 2 point each). Below are several questions intended to determine your knowledge of current events involving auditing cases reported in the news. Please answer each question to the best of your knowledge. A. In the NY Times article, "When Your Last $166 Vanishes: "Fast Fraud Surges on Payment Apps" what is meant by the term "fast fraud" ? B. Based on the article, "The Brutal Truth About Bitcoin", what are some of the major drawbacks in such an investment cited in the article? C. In the NY Times article. "Auditing the Auditors" what did the partners at KPMG do wrong? D. Based on the NY Times article, "US Targets S1 Billion in Assets in Malaysian Embezzlement Case," why should the US Department of Justice be involved? E. The Law Firm of MoloLamken published an article. "What exactly, is Prosecutorial Misconduct?" Name one of the nine examples of prosecutorial misconduct which was also present in the NY Times article. "The $500,000 Apology that involved Daniel Heller? I Cow Shades Free Shipitul eie unitarios of lied in radica problem A During the audio face publice company, they dongamaties wuthority and the olan internal control and there meg department permet under the directement Accounts Payable Department employees had also been records from the purchasing of recepty of A audio would you get internal coctor If not, please dinerheiten in decussed in die B. ABC Cuperficie Osmay! 2019, Sam Wood CEO and Cherokee Code de the fimm undertakarinkymmentending the higheid bords for the fimore. There website the centrale M the med in the file chef officer (CRO) made a series e presenting the Bundestas describing the risks related to the intensywne model that the potential RO moflex including the offered to be Subseqwiy, ABC Corp, collapsedd filed in any e identify the windows and describe how these deficiencies should have been wided Duman of the XYZ Cuq emend.com confirming that wholly owned by the market in Chorshank count in New York Chond he did not exit. Given that the water tred the clients to end the mail com ww wapeplum flowing hered owned mistake have been wided Menedice D. Sally Sath was the Treasurer af University Mappa 15 milli trudover at your period. The water bank account opened by Smith in the name of the Hospital Rene Stellen invoices for the Hospital Patient Reserve comendo permettone of the Hagitat sure appatiena T ks inle the recent to pay her persone wolper han meccsfar the commande deposits, and was de salsa, and correspondence from the all's My te wees imemal controls, and how the path E. In conducting the audit of HIJ Company, the auditors want to provide for any potential loss contingencies. During their examination the following events occurred 1. After sending a letter to the company's attomes, and following up with several calls, from the law firm responded to their request 2. A dispute with the IRS two years ago was never resolved. 3. The auditor's have an inclination that the owner of HIJ was having his personal notes endorsed for guaranteed) by the company 4. During a cash-flow crunch at the beginning of the year, HIJ sold roughly $250,000 in notes receivable with recounte Please briefly discuss each of the above items, and how the auditors ought to tespond to cach The auditors of JKL Company are about to conclude their audit. Before they completely finish, they observe a pre-publication copy of the company's annual report to shareholders in the CFO's office. In the annual report the auditors read that the company is seeking to expand its operation by acquiring a small firm. Should the auditors react to this information? What ought they do? III. Antiring-in-the-news (10 points totul poln euch. Below are several questions intended to determine your knowledge of current events involving auditing cases reported in the news Please answer cach question to the best of your knowledge A. In the NY Times article. "When Your Lag S166 Vanishes: "Fast Fraud Surges on Payment Apps what is meant by the term "fast frond? B. Based on the article. "The Brutal Truth About Bitcoin", what are some of the major drawbacks in such an investment cited in the article? C In the NY Timex article. "Auditing the Auditors" what did the partners at KPMG do wrong? D. Based on the NY Times article. US Targets S1 Billion in Assets in Malaysian Embezzlement Case," why should the US Department of Justice be involved? E. The Law Firm of MoloLamken published an article. "What exactly, is Prosecutorial Misconduct Name one of the nine examples of prosecutorial misconduct which was also present in the NY Times article. "The 5500,000 Apology that involved Daniel Heller? 12. Car Studies Phu Soring all perintah Below are some of case studied in class. Mae teadach case.malyae the facts, and provide a hnefelt the problem During the aude of public company, the ansatyafogantimallines of wuthority and the use of winemal controle de her ang department pelet under the lifetime of the parts agent Acent Payable purtant employees had alue been instructed to accept informasi memoranda from the purchasing agent, evidence of this and propriety of As dit would you soept this angements and teammentform contul plan decrease in the bed ABC Corp. was able investments with over 1 bile in clients. On January 3019. Sam Wings we appointed and Chairman of the Bount Under liebenship the limundo rey vermeendeling og betale for the firm's imments. There wereld loss dan investice grade As the animated in these risky financial instrumenter the the chief rink officer CRO)made series of presentations to the Board of Directores describing the risks related to the vetmese strategy. Water and the Board of Directo concluded that the potential rinks powered by the CRO plenible soy thereafter the CRO teplaced with mother der Cappeared to less comes the solved in management In hun of that had insignificant met de including the hundreds of investor funds that were apped to her pregled Sohequently ABC Corp coledandfied for bankruptcy Please identity the weaknees animemalol hased on the facts above and describe how these deficiencies should have bees voided Deing an audit of the XYZ Carthenocive bancarimate confirming that wholly-owned absidiary held the equivalent of 5 illi abitable contes in Chashank New York City, the bank of the date est Given that we decent company.com is the mail confirmat what is a place for how this might he curred in could this mistake have beended Peased D. Sally Smith was the Treasure of Cyptal Ms. Smile perpetrated a $13 m trudover at your period. There was accomplished the secret bank account Invoices for the Hopital Peles Reserve Ace writing checks in payment from one of the Hopital becomes, and pallete Te She would the depthe check Additionally, the pare bank de salle intomal controls, and how the University Hospital might have prevented such a loss F. The auditors of JKL Company are about to conclude their audit. Before they completely finish, they observe a pre-publication copy of the company's annual report to shareholders in the CFO's office. In the annual report the auditors read that the company is seeking to expand its operation by acquiring a small firm. Should the auditors react to this information? What ought they do? III. Auditing-in-the-news (10 points total, 2 point each). Below are several questions intended to determine your knowledge of current events involving auditing cases reported in the news. Please answer each question to the best of your knowledge. A. In the NY Times article, "When Your Last $166 Vanishes: "Fast Fraud Surges on Payment Apps" what is meant by the term "fast fraud" ? B. Based on the article, "The Brutal Truth About Bitcoin", what are some of the major drawbacks in such an investment cited in the article? C. In the NY Times article. "Auditing the Auditors" what did the partners at KPMG do wrong? D. Based on the NY Times article, "US Targets S1 Billion in Assets in Malaysian Embezzlement Case," why should the US Department of Justice be involved? E. The Law Firm of MoloLamken published an article. "What exactly, is Prosecutorial Misconduct?" Name one of the nine examples of prosecutorial misconduct which was also present in the NY Times article. "The $500,000 Apology that involved Daniel Heller? I Cow Shades Free Shipitul eie unitarios of lied in radica problem A During the audio face publice company, they dongamaties wuthority and the olan internal control and there meg department permet under the directement Accounts Payable Department employees had also been records from the purchasing of recepty of A audio would you get internal coctor If not, please dinerheiten in decussed in die B. ABC Cuperficie Osmay! 2019, Sam Wood CEO and Cherokee Code de the fimm undertakarinkymmentending the higheid bords for the fimore. There website the centrale M the med in the file chef officer (CRO) made a series e presenting the Bundestas describing the risks related to the intensywne model that the potential RO moflex including the offered to be Subseqwiy, ABC Corp, collapsedd filed in any e identify the windows and describe how these deficiencies should have been wided Duman of the XYZ Cuq emend.com confirming that wholly owned by the market in Chorshank count in New York Chond he did not exit. Given that the water tred the clients to end the mail com ww wapeplum flowing hered owned mistake have been wided Menedice D. Sally Sath was the Treasurer af University Mappa 15 milli trudover at your period. The water bank account opened by Smith in the name of the Hospital Rene Stellen invoices for the Hospital Patient Reserve comendo permettone of the Hagitat sure appatiena T ks inle the recent to pay her persone wolper han meccsfar the commande deposits, and was de salsa, and correspondence from the all's My te wees imemal controls, and how the path E. In conducting the audit of HIJ Company, the auditors want to provide for any potential loss contingencies. During their examination the following events occurred 1. After sending a letter to the company's attomes, and following up with several calls, from the law firm responded to their request 2. A dispute with the IRS two years ago was never resolved. 3. The auditor's have an inclination that the owner of HIJ was having his personal notes endorsed for guaranteed) by the company 4. During a cash-flow crunch at the beginning of the year, HIJ sold roughly $250,000 in notes receivable with recounte Please briefly discuss each of the above items, and how the auditors ought to tespond to cach The auditors of JKL Company are about to conclude their audit. Before they completely finish, they observe a pre-publication copy of the company's annual report to shareholders in the CFO's office. In the annual report the auditors read that the company is seeking to expand its operation by acquiring a small firm. Should the auditors react to this information? What ought they do? III. Antiring-in-the-news (10 points totul poln euch. Below are several questions intended to determine your knowledge of current events involving auditing cases reported in the news Please answer cach question to the best of your knowledge A. In the NY Times article. "When Your Lag S166 Vanishes: "Fast Fraud Surges on Payment Apps what is meant by the term "fast frond? B. Based on the article. "The Brutal Truth About Bitcoin", what are some of the major drawbacks in such an investment cited in the article? C In the NY Timex article. "Auditing the Auditors" what did the partners at KPMG do wrong? D. Based on the NY Times article. US Targets S1 Billion in Assets in Malaysian Embezzlement Case," why should the US Department of Justice be involved? E. The Law Firm of MoloLamken published an article. "What exactly, is Prosecutorial Misconduct Name one of the nine examples of prosecutorial misconduct which was also present in the NY Times article. "The 5500,000 Apology that involved Daniel Heller
