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Unformatted text preview: Need to rationalize dividend cut to stockholders -when management is perceived to be unnecessarily overretaining cash. Revenues arising from sales to affiliates or subsidiaries. -Attempts to minimize taxes through transfer pricing, but financial reporting can become distorted. Wallpaper case, Scrap Sales, Curry Lee Warehouse and stolen accounts W.R. Knechel Revenue Cycle What accounts are in the Revenue Cycle? W.R. Knechel Audit Program (design v. performance) Performance Format eliminates duplication examines all documentation only once properly orders the procedures Next slide illustrates the design format...
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- Fall '08