A Day in the Life of Brent Dorsey - Staff Auditor Professional Pressures
A Day in the Life of Brent Dorsey
Staff Auditor Professional Pressures
1. The alternatives available to Brent in regards to the audit of payables are: a. Change the audit plan and only pull 20 invoices opposed to the allotted 30. i. Pros – they may be able to come in on or under budget ii. Cons – they could miss something, and get in serious trouble for not following procedure b. Work more hours then the allotted time but report only 35 hours “eat time”. iii. Pros – they will be able to report on budget iv. Cons – they are purposely misstating their time, and aren’t being compensated for all their work. c. Audit the payable accounts normally and report over budget. v. Pros – ethically they are doing what is expected of their jobs, and they get to spend time with their families. vi. Cons – they’ll report over budget, which will reflect badly on them, their supervisors, and the company. 2. The consequences for Brent, the auditing firm, and others involved that may arise from: d. “Eating time” are that for Brent and Scott will not be compensated for their extra hours worked and ethically they would be purposely miss-stating their hours worked, which can lead to problems in the future with the company since they will only see that they were able to come in on budget so next year they may decrease the budget once again leading to s similar problems when doing next years accounts. e. Not completing auditing procedures are that they could miss something by trying to create a short cut they may miss a problem in the accounts payable that they may have seen if they had followed procedures. 3. In my opinion Brent’s best alternative course of action is to come in on the weekend and put in as main hours as needed to finish the payable trying to finish as close to budget as he can but if they can’t meet budget they report over-budget. With this alternative it’s
Staff Auditor Professional Pressures
1. The alternatives available to Brent in regards to the audit of payables are: a. Change the audit plan and only pull 20 invoices opposed to the allotted 30. i. Pros – they may be able to come in on or under budget ii. Cons – they could miss something, and get in serious trouble for not following procedure b. Work more hours then the allotted time but report only 35 hours “eat time”. iii. Pros – they will be able to report on budget iv. Cons – they are purposely misstating their time, and aren’t being compensated for all their work. c. Audit the payable accounts normally and report over budget. v. Pros – ethically they are doing what is expected of their jobs, and they get to spend time with their families. vi. Cons – they’ll report over budget, which will reflect badly on them, their supervisors, and the company. 2. The consequences for Brent, the auditing firm, and others involved that may arise from: d. “Eating time” are that for Brent and Scott will not be compensated for their extra hours worked and ethically they would be purposely miss-stating their hours worked, which can lead to problems in the future with the company since they will only see that they were able to come in on budget so next year they may decrease the budget once again leading to s similar problems when doing next years accounts. e. Not completing auditing procedures are that they could miss something by trying to create a short cut they may miss a problem in the accounts payable that they may have seen if they had followed procedures. 3. In my opinion Brent’s best alternative course of action is to come in on the weekend and put in as main hours as needed to finish the payable trying to finish as close to budget as he can but if they can’t meet budget they report over-budget. With this alternative it’s