Auditing after Sarbanes-Oxley : Illustrative Cases

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  • Edition: 2nd
  • Format: Paperback
  • Copyright: 2008-01-31
  • Publisher: McGraw-Hill/Irwin
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With Auditing After Sarbanes-Oxley, you have a unique opportunity to bring your auditing coverage instantly up to date. Revised to include AS 5, this flexible casebook contains 42 cases focusing on specific auditing issues directly impacted by Sarbanes-Oxley, using the actual companies-Enron, WorldCom, Qwest, Sunbeam-that have become synonymous with the capital markets' crisis in confidence. The cases provide in-depth, up-to-date coverage of the post-Sarbanes technical audit guidance issued by the PCAOB, organized around the following themes: 1) Fraud Cases: Violations of Generally Accepted Accounting Principles (GAAP); 2) Ethics and Professional Responsibility Cases; 3) Fraud and Inherent Risk Assessment Cases; 4) Internal Control Systems: Entity-Level Control Cases and 5) Accounts, Processes and Assertions. Cases run only 3-5 pages in length, which dramatically reduces the time necessary for students to grasp key learning objectives. Your students will thank you for providing cutting-edge instruction in such an efficient manner. Discussion questions from each section will help to facilitate dialogue between you and your students, allowing for each individual student to firmly grasp the most important elements of each case. Each case focuses on one specific topic, ensuring student mastery of that topic. The unique format also provides instructors with significant flexibility in integrating the cases into their syllabus or lesson plan. Bring your auditing coverage firmly into the post-Enron era with Auditing After Sarbanes-Oxley!

Table of Contents

Fraud Cases: Violations of Generally Accepted Accounting Principles (GAAP)p. 1
Waste Management: The Matching Principlep. 3
WorldCom: The Revenue Recognition Principlep. 7
Qwest: The Full Disclosure Principlep. 11
Sunbeam: The Revenue Recognition Principlep. 17
Waste Management: The Definition of an Assetp. 21
Enron: The Revenue Recognition Principlep. 25
WorldCom: The Matching Principlep. 29
The Fund of Funds: The Conservatism Constraintp. 33
Qwest: The Revenue Recognition Principlep. 41
The Baptist Foundation of Arizona: The Conservatism Constraintp. 45
Ethics and Professional Responsibility Casesp. 49
Enron: Independencep. 51
Waste Management: Due Professional Carep. 55
WorldCom: Professional Responsibilityp. 59
Enron: Quality Assurancep. 63
Sunbeam: Due Professional Carep. 67
The Fund of Funds: Independencep. 71
Fraud and Inherent Risk Assessment Casesp. 75
Enron: Understanding the Client's Business and Industryp. 77
The Baptist Foundation of Arizona: Related Party Transactionsp. 81
WorldCom: Significant Business Acquisitionsp. 85
Sunbeam: Incentives and Pressure to Commit Fraudp. 89
Qwest: Understanding the Client's Business and Industryp. 93
The Fund of Funds: Related Party Transactionsp. 97
Waste Management: Understanding the Client's Business and Industryp. 103
Internal Control Systems: Entity-Level Control Casesp. 109
Enron: The Control Environmentp. 111
Waste Management: Information Technology General Controlsp. 115
The Baptist Foundation of Arizona: The Whistleblower Hotlinep. 119
WorldCom: The Internal Audit Functionp. 123
Waste Management: Top-Side Adjusting Journal Entriesp. 127
Internal Control Systems: Control Activity Casesp. 131
The Fund of Funds: Valuation of Investmentsp. 133
Enron: Presentation and Disclosure of Special Purpose Entitiesp. 137
Sunbeam: Completeness of the Restructuring Reservep. 143
Qwest: Occurrence of Revenuep. 147
The Baptist Foundation of Arizona: Presentation and Disclosure of Related Partiesp. 153
Waste Management: Valuation of Fixed Assetsp. 157
Qwest: Occurrence of Revenuep. 163
Company Casesp. 167
Enronp. 169
Waste Managementp. 183
WorldComp. 199
Sunbeamp. 213
Qwestp. 225
The Baptist Foundation of Arizonap. 239
The Fund of Fundsp. 251
Table of Contents provided by Ingram. All Rights Reserved.

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