Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 13 Oct 2017 My Price 5.00

Accusation of Fraud

Accusation of Fraud. (This exercise is based on the actual case of Health Management Inc. ) During the audit of the Health Management’s 1995 financial statements, $1.8 million of inventory in transit was included on the entity’s balance sheet. The auditors never obtained evidence of the existence of this inventory even though several questions had been raised concerning the excessively large amount of inventory in transit at year-end. In 1996, Health Management announced that it had discovered a series of accounting irregularities.

Required:

a. Do legal grounds exist to claim that the auditors committed fraud?

b. What would be the auditors’ defense if such grounds exist?

 

Answers

Maurice Tutor
(5)
Status NEW Posted 13 Oct 2017 12:10 PM My Price 5.00

Acc-----------usa-----------tio-----------n o-----------f F-----------rau-----------d-----------

Attachments

file 1519560830-Accusation of Fraud.docx preview (157 words )
A-----------ccu-----------sat-----------ion----------- of----------- Fr-----------aud----------- A----------- fr-----------aud----------- re-----------lat-----------ed -----------to -----------$1.-----------8 m-----------ill-----------ion----------- in-----------ven-----------tor-----------ies----------- of----------- He-----------alt-----------h m-----------ana-----------gem-----------ent----------- we-----------re -----------rep-----------res-----------ent-----------ed -----------in -----------the-----------ir -----------fin-----------anc-----------ial----------- st-----------ate-----------men-----------ts.----------- Al-----------ong----------- wi-----------th,----------- th-----------ese----------- in-----------ven-----------tor-----------ies----------- ar-----------e d-----------isp-----------lay-----------ed -----------as -----------inv-----------ent-----------ory----------- in----------- tr-----------ans-----------it -----------in -----------the----------- ye-----------ar -----------end----------- al-----------so,----------- bu-----------t a-----------udi-----------tor-----------s n-----------eve-----------r c-----------oll-----------ect-----------ed -----------any----------- ev-----------ide-----------nce----------- fo-----------r t-----------his----------- in-----------ven-----------tor-----------y p-----------res-----------enc-----------e. -----------Als-----------o a-----------n a-----------nno-----------unc-----------eme-----------nt -----------was----------- ma-----------de -----------by -----------the----------- ma-----------nag-----------eme-----------nt -----------tha-----------t t-----------her-----------e a-----------re -----------ser-----------ies----------- of----------- ac-----------cou-----------nti-----------ng -----------irr-----------egu-----------lar-----------iti-----------es.----------- T-----------his----------- cl-----------ear-----------ly -----------loo-----------ks -----------it -----------was----------- fr-----------aud----------- be-----------cau-----------se
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