Bill DeBurger

Bill DeBurger - A: Bill DeBurger held the title of...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
A: Bill DeBurger held the title of “in-charge” accountant while working for a large national accounting firm, with 18-months of experience to his credit. In DeBurger’s opinion an in-charge was “someone a senior or manager expected to work with little or no supervision”. Additionally, DeBurger felt his title of in-charge carried the sentiment of “Here’s the audit program for payables. Go spend the next five weeks completing the twelve program steps…and don’t bother me”. DeBurger was aware of the fact that he needed to meet two requirements before being promoted to audit senior, (1) two years of work experience and (2) completion of the C.P.A. exam. At the time, DeBurger was working on the audit for Marcelle Stores alongside Sam Hakes, who was the partner supervising the audit whom DeBurger had developed a strong relationship with. DeBurger’s task on the Marcelle audit was to develop a two page memo in which he summarized 900 hours of work that had been completed with the assistance of five internal auditors and two staff accountants over a two month period. Marcelle’s once strong financial standing was deteriorating due to a struggling economy increasing competition and Marcelle’s suppliers were beginning to slash their prices, significantly cutting into the stores profit. Marcelle previously posted a profit of less than $8 million prior to their current audit; the company’s pre-audit net income posted at an abysmal $500,000. This case relates to practice issues in regards whether or not to project an error to the sample population. This case is unique in the fact that it’s hard to parallel it to other cases discussed in class thus far. DeBurger had no specific evidence that the inventory account balance was materially misstated. He was only able to formulate his assumption
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 05/20/2008 for the course ACC 482 taught by Professor Elder during the Spring '08 term at Syracuse.

Page1 / 4

Bill DeBurger - A: Bill DeBurger held the title of...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online