ADM 4341 Lecture Notes - Longrun, Accrual, Whistleblower
24 Feb 2014
School
Department
Course
Professor
Document Summary
Like a torrent of cold water the wave of publicity raised by the . case has shocked the accountancy profession into breathlessness. Accustomed to relative obscurity in the public prints, accountants have been startled to find their procedures, their principles, and their professional standards the subject of sensational and generally unsympathetic headlines. Impact led to significant changes in procedures for appointing auditors and conducting audits. The committee"s first standard, statements on auditing procedure no. Auditing procedure, made observing inventory and confirming accounts receivable two procedures that would have helped detect the mckesson & robbins fraud standard audit procedures. Conclusions: resemblance to other cases, themes, auditors not policing for fraud, history repeats itself. Potential midterm question: compare and contrast the ways of fraud 2 certain cases . How does he or she act : according to profile of a fraudster , male, greed, egotistical, risk taker, rule breaker, under stress, big spender, pressured to perform, close relationship with vendors, suppliers.
