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Diebold, Inc., a public company, is a maker of ATMs, bank security systems, and electronic voting machines. Research how Diebold accounted for liability accruals and capitalized expenses ("Division 35 and CAP 250") to overstate income I the years 2002 to 2005. Also, research for legal actions against Diebold and its officers. Possible sources of information on these issues include websites for Diebold, the SEC, and various news stories in the business press (e.g...CFO.com)
Write a brief memo describing
a) Diebold's accounting for accrued liabilities and capitalized expenses
b) What the auditors could have done differently to identify the misstatements in the earlier years of the fraud.
c) The results of the SEC's and other legal actions against the company and the executives.
Identify the unresolved problems which need to be addressed and discuss why each is a problem for the auditor and the potential impact of each on the financial statements.
Prepare a memo to the audit partner on the ‘state of the company's industry' and associated risk factors and prepare a list of three useful sources and perform overall analytical procedures
questionsally and bob unmarried taxpayers each owned 50 of lostalot inc. an s corporation. the corporation had a 50000
What are role and responsibilities of the internal auditor with regard to SOX and financial statement audit
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Why is there greater risk for an individual accounting worker than there was before? Why is the primary objective of an audit is to add credibility to management's financial statements?
Discuss what you need to consider before accepting the Kleptos Audit engagement and show the audit risk model and use it to estimate and evaluate the audit risk of the Kleptos Audit engagement.
Details of other business risks identified from your analytical procedures and background details.
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question 1.why would the courts want to limit the ability of third parties to sue auditors who have been negligent? are
Show the reason for and the type of audit report that you would issue and consider that each item is significant.
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