Case 1.1 Ocean Manufacturing, Inc.: The New Client Acceptance Decision Ocean Manufacturing, Inc. is recommended as a prospective audit client of Barnes and Fischer, LLP. I believe that Barnes and Fischer should accept the client because of Barnes and Fisher's opportunities in consulting and information technology (IT) development, Ocean Manufacturing, Inc.'s sound management/business model and past successful audits, and primarily, the growth potential of Ocean Manufacturing, Inc. following
Ocean Manufacturing, Inc. c as e 1.1 The new client acceptance decision Mark S. Beasley · Frank A. Buckless · Steven M. Glover · Douglas F. Prawitt l ea r n ing o bje C t ive s After completing and discussing this case you should be able to [1] Understand the types of information relevant to evaluating a prospective audit client [2] List some of the steps an auditor should take in deciding whether to accept a prospective client Identify and evaluate factors important to
Client Acceptance 1 C a s es inc lu de d in t his Se ction 1.1 Ocean Manufacturing, Inc. The New Client Acceptance Decision Instructor Resource Manual — Do Not Copy or Redistribute . . . . . . . . . . . . . . . . . . . . . . 3 Instructor Resource Manual — Do Not Copy or Redistribute Ocean Manufacturing, Inc. C a s e 1.1 The New Client Acceptance Decision Mark S. Beasley · Frank A. Buckless · Steven M. Glover · Douglas F. Prawitt
Ocean Manufacturing, Inc.[1] The New-Client Acceptance Decision Learning Objectives * Understand the types of information relevant to evaluating a prospective audit client * List some of the steps an auditor should take in deciding whether to accept a prospective client * Identify and evaluate factors important in the decision to accept or reject a prospective client * Understand the process of making and justifying a recommendation regarding client acceptance
Case 1.1 – Client Acceptance Question # 1: Identify 5 procedures an auditor should perform in determining whether to accept a client. Which of these five are required by the auditing standards? a. (AU 314) The auditor should obtain an understanding of the entity and its environment in the following areas: i. Client’s application of accounting policies ii. The industry, regulation and other factors affecting the client iii. Client’s objectives , strategies,
To what extent did the growth strategy of the HKET Group follow the key ‘imperatives’ of a Blue Ocean Strategy? Explain and use examples from the case to illustrate your points. To answer this question, first of all we need to know what is Blue Ocean Strategy, how it works and what are the main points. Blue Ocean Strategy – what is it? Blue oceans are uncontested market spaces where the competition is irrelevant… you invent and capture new demand, and you offer customers a leap in value while
The beads are continually adding plastic to the oceans causing toxins and problems for the marine environment. Microbeads are not only impacting the oceans, but the groups and people all over the world. Marine pollution is not a new phenomenon, but our acknowledgement of its impacts and severity is relatively new, with the first laws and discussions to counter it only appearing in the 1950’s. For much of history, it was thought that the oceans were so large that any pollution created would be
and Fischer should or should not accept Ocean Manufacturing, Inc. as an audit client. Carefully justify your position in light of the information in the case. Include consideration of reasons both for and against acceptance and be sure to address both financial and nonfinancial issues to justify your recommendation. MEMORANDUM To: Jane Hunter From: Corrine Subject: Ocean Manufactory Should be Accepted Date: February 3, 2012 Ocean Manufacturing, a medium-sized manufacturer of small home
ACCT 805AE Case 4 Ocean Manufacturing, Inc The Osprey Group Feb 21, 2011 Q1. The client acceptance process can be quite complex. Identify five procedures an auditor should perform in determining whether to accept a client. Which of these five are required by auditing standards? First they should gather and examine all available financial information, such as tax returns, annual reports, the balance sheet, and income statement. This should be done so that the audit firm can do a quick initial
NURNBERG AUGSBURG MASCHINENWERKE Course: Bachelor of Business (Maritime and Logistics Management) Abstract The following article follows the case of a German company, Nurnberg Augsburg Maschinenwerke and an order, of buses, from a group of Brazilian authorities dealing with the improvement of the local public transportation. The best and most viable routes are to be decided upon for the delivery of these buses to Santos. A condition was given for 25 buses to be