ACC 562 Assignment Week 3,4,7,10 Advanced Auditing Homework Strayer

ACC 562 Assignment Week 3,4,7,10 Advanced Auditing Homework

ACC 562 Assignment  1 Week 3   Nextcard Inc(Accounting Fraud Risk)

• Analyze the Fraud Risk Factors Accounting Essay:
• Analyze have impacted the audit procedures.
• ze the fraud risk factors presented during the 2000 Nextcard audit and how each should
   In the Nextcard case, discuss how Ernst & Young’s motivation to destroy the audit work papers reconciles with its obligation to provide assurances to financial investors.
• Assume the role of Oliver Flanagan in the case. Identify the actions you would have taken when Robert Trauger asked you to help him alter the 2000 Nextcard audit work papers. In answering this question, discuss alternative courses of action available to you.
• Search the Internet for a public accounting firm that recently destroyed audit evidence related to a client. Identify the public accounting firm and evaluate the punishment that the firm received for the Professional Code of Conduct violation. Evaluate the severity of the punishment to determine whether you agree or disagree with the severity.

ACC 562 Assignment  2 Week 4  North Face (Auditing)

• The SEC sanctioned Richard Fiedelman for failing to document the changes that his subordinates had made in 1997 North Face work papers and for failing to exercise due professional care. Explain the SEC’s rationale in making each of these allegations.
• Take a position on the severity of the SEC’s punishment of Richard Fiedelman of a three-year suspension on beinginvolved in the audits of SEC clients. Support your position.
• Assume that you are an audit manager in a public accounting firm. The engagement partner asks you to modify client work papers after the financial statements and opinion has been issued. Determine what you would do in this situation. Provide your rationale.
•     Evaluate the practice of “materiality” used by public accounting firms and how accounting firms should address it with clients.

ACC 562 Week  7 Assignment 3  F & C International

• Ways to eradicate corporate fraud
• Internal controls for inventory
• Catherine Sprauer at F & C International
• Adjustment of audit techniques by audit firms
• Audit Procedures
• Testing Internal Controls 

ACC 562 WK 10 Assignment 4 Financial Analysis (Eastman Kodak)

1. Premature revenue recognition
2. Gross vs. Net basis
3. Vendor Financing
4. Cost of Goods Sold
5. Cost floor assumption for inventories
6. Asset Impairment
7.  “Big Bath” Restructuring charges