If You Need Love, Get a Puppy: a Case Study
Autor: chengy • June 28, 2015 • Study Guide • 346 Words (2 Pages) • 2,158 Views
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If You Need Love, Get a Puppy: A Case Study on Professional Skepticism and Auditor Independence
- When Will counted the money, he noted that the “evidence was stacking up in favor of an explanation that was making him very uncomfortable.” Make a detailed list of the evidence in support of Jess’s position and evidence refuting Jess’s claim that “the money had fallen between the cabinets.” Also identify the type of audit evidence (per AICPA professional stds.) you would need to obtain to substantiate each piece of evidence listed in the detailed list.
- After Vince and Will examined eight more tickets, it was clear to them that there was a problem with the tickets paid in cash. The case states, “They went back to the office to discuss how they were to proceed.” When they were meeting at the office, 1) what issues should they have identified that would impact how to proceed with the audit, and 2) list the specific next audit steps or procedures they should take to bring the audit to a conclusion. Hint: they are not ready to issue the audit report yet.
- Most ethical decision-making models list “identify alternatives” and “identify the possible consequences of each alternative” as two of the steps used in resolving moral dilemmas. Assume you are Will and you are just about to record the serial numbers of the bills that you found to be questionable. You have put enough of the pieces of the puzzle together to realize that Jess is probably involved in misappropriating the cash associated with the ticket. Identify the alternatives that are available to you (aka Will) at this point and the possible consequences associated with each alternative.
- Describe specific examples in the case of instances where Will exercised professional skepticism.
- Describe conditions present in the case that could have limited Will’s skepticism
- Provide examples of actions Will could have taken if he was not exercising professional skepticism.
- Identify the various pressures Will faced in pursuing this matter?
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