of 1989. These firms went from 8 to the big four due to the merging and dissolution of (Arthur) Andersen LLP. In addition‚ they audit majority of all the largest American corporations. In despite of all the financial services offered; auditing represents a whole‚ if not all‚ share of the work. After the merging of all the firms‚ they are now called the Big 4 Firms which are made up of Deloitte & Touche LLP‚ Ernst & Young LLP‚ KPMG LLP‚ and PricewaterhouseCoopers LLP. Questions Requiring Analysis:
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claims of achieving "positive water balance" simply do not add up. The India Resource Center approached Pepsico in 2010 to question them on how it accounted for its claim of "positive water balance." We were provided with an audit conducted by Deloitte Touche Tohmatsu India Private Limited‚ a firm that provides "audit‚ consulting‚ financial advisory‚ risk management‚ and tax services to selected clients." The audit was based on 2009 figures provided primarily by Pepsico‚ and the audit was released
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Complimentary article reprint Post Merger integration: Hard Data‚ Hard Truths By johanneS gerdS and freddy Strottmann with PakShalika jayaPrakaSh > illuStration By VinCe mCindoe This publication contains general information only‚ and none of Deloitte Touche Tohmatsu‚ its member firms‚ or its and their affiliates are‚ by means of this publication‚ rendering accounting‚ business‚ financial‚ investment‚ legal‚ tax‚ or other professional advice or services. This publication is not a substitute for such
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does not bank the cash. “Every man is entitled to order his affairs so that the tax attaching under the appropriate Acts is less than it otherwise would be” – Lord Tomlin (IRC v. Duke of Westminster) 2 Direct Taxes Code Bill‚ 2009 ©2009 Deloitte Haskins & Sells. All rights reserved. Anti-avoidance Anti Avoidance rules can be classified into following: ‒ Measures based on general principles in the law • This refers to principles which are not codified in the legislation (non-statutory)
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corporations are Deloitte & Touche‚ Pricewaterhouse Coopers‚ Ernst & Young‚ and KPMG. The biggest name in the industry however‚ is Deloitte & Touche. The company is the biggest accounting firm in the world; with revenue that exceeds 26 billion dollars it has the largest amount of employees worldwide (Big 4 web). Its headquarters are located in non other than the great New York City. Where else would such a magnificent firm be located? Obtaining a job at Deloitte is not an easy process
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case of Deloitte & Touche there error was telling Molex‚ Inc that thy would only be able to complete its review of the first quarter results in connection with the company’s 10-Q filing when representations were received from the new CFO and a new CEO and if both King and Bullock were removed as executive officers having no influence over financial reporting or internal controls. 2. Describe what you think the auditors should have done differently and explain why. Deloitte & Touche demonstrated
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stock of the company fell by 40 percent. Parmalat claimed USD5 billion with Cayman Island but it did not exist. It is announced by Bank of America. Parmalat force to concede the claim of missed payment to bondholders from the company auditors‚ Deloitte & Touche. Parmalat began to invest more of their operation and also selling the company to American citizen with Italian surnames. It’s have been falsified in parmalat’s account for over a decade at least $600 million from the publicly traded company
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Background Introduction This case is mainly talking about how Deloitte & Touche LLP allowed its former partner‚ Christopher E. Anderson continue to work at Deloitte under the period of suspension. Christopher E. Anderson is a certified public accountant who is licensed in Washington. He is a former partner and an agent of the Deloitte’s Chicago. Deloitte & Touche LLP is one of the largest four public accounting firms. It is organized as a limited liability partnership and its headquarters is located
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MINI-CASES Question Case 1 2 3 4 5 6 7 1. Andersen: An Obstruction of Justice? C.83 C.83 C.83 C.83 C.83 B.63 C.83 2. PTL Club—The Harbinger of Things to Come 3. GM 11.74 12.65 11.74 12.65 11.74 12.65 11.74 11.74 11.74 4. Unhealthy Accounting at HealthSouth 4.64 4.64 5.70 5.70 C.82 G.84 5. KPMG: How Many Firms? B.64 B.64 B.64 1.56 6. Something Went Sour at Parmalat 6.58 7.72 4.65 12.64 7. GE: How Much Are Auditors Paid? B.65 B.65 B.66
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Cendant Corporation Evaluating Risk of Financial Statement Fraud and Assessing the Control Environment Describe the auditor’s responsibility for considering a client’s internal controls Describe the auditor’s responsibility to detect material misstatements due to fraud Identify red flags present during the audits of CUC International‚ Inc.’s financial statements‚ which suggest weaknesses in the company’s control environment (CUC was the predecessor company to Cendant Corporation) Identify
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