Questions from General Auditing

Q: Richard Grimes glanced at his wristwatch as he pulled into the nearly

Richard Grimes glanced at his wristwatch as he pulled into the nearly deserted parking lot of the corporate headquarters of McCaleb Medical Corporation (MMC). 1 It was 6:25 a.m. on a cold and overcas...

Q: In 1983, Marta Giordano inherited the restaurant that her grandfather,

In 1983, Marta Giordano inherited the restaurant that her grandfather, Alberto Buranello, had established shortly after returning to his hometown of Boston after serving in World War I. 1 For nearly...

Q: Leigh Ann Walker graduated from a major state university with a bachelor’s

Leigh Ann Walker graduated from a major state university with a bachelor’s degree in accounting. 1 During her college career, Walker earned a 3.9 grade point average and participated in several extrac...

Q: “Bill, will you have that inventory memo done by this

“Bill, will you have that inventory memo done by this afternoon?” 1 “Yeah, Sam, it’s coming along. I should have it done by five, or so.” “Make it three . . . or so. Okay, Bub?” Bill responded with a...

Q: After spending much of the previous three months working elbow-to

After spending much of the previous three months working elbow-to-elbow with as many as six colleagues in a cramped and poorly ventilated conference room, Hamilton Wong was looking forward to moving o...

Q: One month after being promoted to audit senior, Tommy O’Connell was

One month after being promoted to audit senior, Tommy O’Connell was assigned to the audit engagement team for the Altamesa Manufacturing Company. 1 Tommy worked out of his Big Four employer’s Fort Wor...

Q: “Oh no, not Store 51,” Avis Love moaned under

“Oh no, not Store 51,” Avis Love moaned under her breath. For the third time, Avis compared the dates listed in the cash receipts journal with the corresponding dates on the bank deposit slips. Avis s...

Q: “No, that’s okay, Bea. I’ll write that memo

“No, that’s okay, Bea. I’ll write that memo this weekend and send it to Mr. Fielder. You go on home.” 1 “Are you sure, Chuck? I don’t mind staying a while longer.” “Thanks, Bea, but you’ve already pu...

Q: Madison Wells should have been happy. 1 Another hectic busy season

Madison Wells should have been happy. 1 Another hectic busy season was coming to an end which meant the audit manager’s standard workload would drop from 55 to 65 hours per week to a much more reason...

Q: “So, any good news on the staffing front,

“So, any good news on the staffing front, Till?” Sophie White Eagle asked in between bites of a Christmas cookie. 1 “Nope. Still short at least one staff accountant,” Tillman Rollins replied glumly...