Contemporary Auditing jpg
Contemporary auditing : real issues and cases
This book includes cases in which auditors failed to identify the key management assertion for a given account balance. Many variables are woven into the cases to give a realistic view of the auditing environment. Readers learn to understand the subtle pressures and nuances that make the independent auditor's professional role complex, such as client and peer pressure, time budgets and conflicting evidence. This auditing casebook stresses the people aspect of independent audits and its purpose is to allow the reader to learn from cases based upon problem audits. Read more Rating: not yet rated 0 with reviews - Be the first. Please choose whether or not you want other users to be able to see on your profile that this library is a favorite of yours.
13 editions of this work
Cases from prior editions of Michael C. In addition to the option to purchase the current edition in multiple formats, CengageBrain. This range of options allows you the flexibility to choose the content that best fits your needs! To access additional course materials, visit www. At the CengageBrain.
Wall Street was stunned in September when this iconic investment banking firm filed for bankruptcy. At the time, the most important metric that analysts used in monitoring the financial health of large investment banks was their degree of financial leverage— Lehman touted its net leverage ratio as the best measure of its financial leverage. Of course, the principal purpose of this case is to examine the auditing issues raised by the Lehman debacle. This case examines the auditing issues embedded in each of those claims. The business risk faced by Lehman and the other major investment banks was amplified during the s and beyond when they became heavily involved in the rapidly evolving and high- risk financial derivatives markets. When housing prices began plummeting in the U.