Ebook Contemporary auditing - Real issues and cases (9th edition): Part 2
➤ Gửi thông báo lỗi ⚠️ Báo cáo tài liệu vi phạmNội dung chi tiết: Ebook Contemporary auditing - Real issues and cases (9th edition): Part 2
Ebook Contemporary auditing - Real issues and cases (9th edition): Part 2
SECTION 5ETHICALRESPONSIBILITIESOF INDEPENDENTAUDITORSCase 5.1Case 5.2Case 5.3Case 5.4Case 5.5Case 5.6Cardillo Travel Systems, Inc.American Internatio Ebook Contemporary auditing - Real issues and cases (9th edition): Part 2onal Group, Inc.The North Face, Inc.Waverly Holland. Audit SeniorPhillips Petroleum CompanyAmerican Fuel & Supply, Inc.Find more at www.downloadslide.comCASE 5.1Cardillo Travel Systems, Inc.if virtue is not its own reward.Ỉ don't know any other stipend attached to it.Lord ByronActlRussell Smith knew Ebook Contemporary auditing - Real issues and cases (9th edition): Part 2 why he had been summoned to the office of A. Walter Rognlien, the 74-year-old chairman of the board and chief executive officer (CEO) of Smith’s emplEbook Contemporary auditing - Real issues and cases (9th edition): Part 2
oyer, Cardillo Travel Systems, Inc.1 Just two days earlier. Cardillos in-house attorney, Raymond Riley, had requested that Smith, the company’s controSECTION 5ETHICALRESPONSIBILITIESOF INDEPENDENTAUDITORSCase 5.1Case 5.2Case 5.3Case 5.4Case 5.5Case 5.6Cardillo Travel Systems, Inc.American Internatio Ebook Contemporary auditing - Real issues and cases (9th edition): Part 2involved a $203,000 payment by United Airlines to Cardillo but failed to disclose why the payment was being made or for what specific purpose the funds would be used. The affidavit included a statement indicating that Cardillos stockholders' equity exceeded $3 million, a .statement that Smith knew t Ebook Contemporary auditing - Real issues and cases (9th edition): Part 2o be incorrect. Smith also knew that Cardillo was involved in a lawsuit and that a court injunction issued in the case required the company to maintaiEbook Contemporary auditing - Real issues and cases (9th edition): Part 2
n stockholders’ equity of at least $3 million. Because of the blatant misrepresentation in the affidavit concerning Cardillo's stockholders’ equity anSECTION 5ETHICALRESPONSIBILITIESOF INDEPENDENTAUDITORSCase 5.1Case 5.2Case 5.3Case 5.4Case 5.5Case 5.6Cardillo Travel Systems, Inc.American Internatio Ebook Contemporary auditing - Real issues and cases (9th edition): Part 2ice on that day in May 1985. he found not only Rognlieri but also Riley and two oilier Cardillo executives. One of the other executives was Esther Lawrence, the firm’s energetic 44-year-old president and chief operating officer (COO) and Rognlicn's wife and confidante. Lawrence, a longtime employee, Ebook Contemporary auditing - Real issues and cases (9th edition): Part 2 had assumed control of Cardillo's day-to-day operations in 1984. Rognlien’s two sons by a previous marriage had left the company in the early 1980s fEbook Contemporary auditing - Real issues and cases (9th edition): Part 2
ollowing a power struggle with Lawrence and their father.As Smith sat waiting for the meeting to begin, his apprehension mounted. Although Cardillo haSECTION 5ETHICALRESPONSIBILITIESOF INDEPENDENTAUDITORSCase 5.1Case 5.2Case 5.3Case 5.4Case 5.5Case 5.6Cardillo Travel Systems, Inc.American Internatio Ebook Contemporary auditing - Real issues and cases (9th edition): Part 2gnlicn. Cardillo ranked as the fourth-largcst company in the travel agency industry and was the first to be listed on a national stock exchange. Cardillo's annual revenues had steadily increased after Rognlien acquired the company, approaching $100 million by 1984. Unfortunately, the company’s opera Ebook Contemporary auditing - Real issues and cases (9th edition): Part 2ting expenses had increased more rapidly. Between 1982 and 1984. Cardillo posted collective losses of nearly $1.5 million. These jx>or operating resulEbook Contemporary auditing - Real issues and cases (9th edition): Part 2
ts were largely due Io an aggressive franchising strategy implemented by Rognlien. In 1984 alone that strategy more than doubled the number of travel SECTION 5ETHICALRESPONSIBILITIESOF INDEPENDENTAUDITORSCase 5.1Case 5.2Case 5.3Case 5.4Case 5.5Case 5.6Cardillo Travel Systems, Inc.American Internatio Ebook Contemporary auditing - Real issues and cases (9th edition): Part 2When Smith steadfastly refused, Rognlien showed1The events discussed in this case were reconstructed principally from information included in Securities and Exchange Commission, Accounting and Auditing Enforcement Release No 143, 4 August 1987. All quotations appearing in this case were taken from t Ebook Contemporary auditing - Real issues and cases (9th edition): Part 2hat document.295Find more at www.downloadslide.comSECTION FIVE Ethical Responsibilities of Independent Auditors296him the first page of an unsigned agEbook Contemporary auditing - Real issues and cases (9th edition): Part 2
reement between United Airlines and Cardillo. Rognlien then explained that the $203,000 payment was intended to cover expenses incurred by Cardillo inSECTION 5ETHICALRESPONSIBILITIESOF INDEPENDENTAUDITORSCase 5.1Case 5.2Case 5.3Case 5.4Case 5.5Case 5.6Cardillo Travel Systems, Inc.American Internatio Ebook Contemporary auditing - Real issues and cases (9th edition): Part 2Cardillo for those expenses and was refundable to United Airlines if not spent, Rognlien wanted Smith to record the payment immediately as revenue.Not surprisingly. Rognlien's suggested treatment of the United Airlines payment would allow Cardillo to meet the $3 million minimum stockholders’ equity Ebook Contemporary auditing - Real issues and cases (9th edition): Part 2threshold established by the court order outstanding against the company. Without hesitation, Smith informed Rognlien that recognizing the United AirlEbook Contemporary auditing - Real issues and cases (9th edition): Part 2
ines payment as revenue would be improper. At that point. “Rognlien told Smith that he was incompetent and unprofessional because he refused to book tSECTION 5ETHICALRESPONSIBILITIESOF INDEPENDENTAUDITORSCase 5.1Case 5.2Case 5.3Case 5.4Case 5.5Case 5.6Cardillo Travel Systems, Inc.American Internatio Ebook Contemporary auditing - Real issues and cases (9th edition): Part 2”Act 2SECTION 5ETHICALRESPONSIBILITIESOF INDEPENDENTAUDITORSCase 5.1Case 5.2Case 5.3Case 5.4Case 5.5Case 5.6Cardillo Travel Systems, Inc.American InternatioGọi ngay
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