Personal Statement : O And R Company

964 Words Jul 1st, 2016 4 Pages
Good afternoon everybody! It is my honor to be here to present as a member of group B.
Slide No.12
I would like to talk about some significant background information about our auditor –Harvey Bizarre in O and R Company.
Harvey Bizarre has been the auditor partner on the account for the past seven years. He is approaching his retirement, has been focusing less on his clients and directing most of his attention to transitioning to retirement mode. He also purchased a beach house in South Hampton where he has spent most of his time. He directs work on his clients from the beach and he reviews work by computer while sitting in his living room and also enjoy watching MSNBC.
As an auditor, he is pretty lazy, he did not do what he supposed to do. According our textbook, the auditor has a responsibility to plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether caused by error or fraud. I understand that he is excited to embrace his wonderful retirement life, but as long as he still being an auditor partner, he should do his duty.
Slide No.13&14
O’ Conner and Reilly started to concern about these matters, then they had a meeting with Bizarre to assess the level of exposure that this matter presents.
Bizarre indicated that the lack of separation of duties in the disbursement area was the cause of the auditors choosing a substantive approach and achieve a high level coverage.
As we can tell, O and R…
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