The SEC’s Case against California Micro Devices: A Lesson in Using Professional Skepticism and Obtaining Sufficient Appropriate Evidence

Autor:	Jill M. D'Aquila, Kim Capriotti
Rok vydání:	2011
Předmět:	Micro devices business.industry media_common.quotation_subject Accounting Commission Audit Education Work (electrical) Economics business Accounts receivable Skepticism media_common
Zdroj:	Issues in Accounting Education. 26:145-154
ISSN:	1558-7983 0739-3172
DOI:	10.2308/iace.2011.26.1.145
Popis:	This instructional case involves charges by the Securities and Exchange Commission (SEC) against Michael Marrie, an audit partner, and Brian Berry, a manager, for recklessly failing to comply with auditing standards relating to three areas: a $12 million write-off of accounts receivable, confirmation of accounts receivable, and sales returns and allowances. The SEC believed Michael and Brian did not exercise due professional care, nor did they employ an adequate level of professional skepticism when performing the audit. The SEC also believed that there was insufficient appropriate evidence to express an opinion. This case addresses the following auditing content: Generally Accepted Auditing Standards, professional skepticism, analytical procedures, estimates, fraud risks, confirmation of accounts receivable, and work papers.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::123b818d425b1df457d5086eeec63feb https://doi.org/10.2308/iace.2011.26.1.145 Zobrazit plný text záznamu Plný text ve formátu PDF