"Zzzz best company inc case 1 9" Essays and Research Papers

Sort By:
Satisfactory Essays
Good Essays
Better Essays
Powerful Essays
Best Essays
Page 1 of 50 - About 500 Essays
  • Good Essays

    ------------------------------------------------- ------------------------------------------------- ZZZ Best CompanyInc. ------------------------------------------------- Case Study 2 ------------------------------------------------- Due Date: March 30‚2010 ZZZ BestCase 1. Ernst & Whinney never issued an audit opinion on financial statements of ZZZZ Best but did issue a review report on the company’s quarterly statements for the three months ended July 31‚ 1986. How does a

    Premium Auditing Audit Financial audit

    • 1336 Words
    • 6 Pages
    Good Essays
  • Powerful Essays

    ZZZZ Best Company Inc. Introduction This paper explores the ZZZZ Best Company which was begun by a 16 year old individual who was able to pull the wool over the eyes of many customers‚ investors and auditors. This paper will define the difference between review and audit when it comes to financial reports‚ comments on the procedures provided with regard to the management assertion of occurrence‚ verification of payments for jobs and how they can lead auditors to improper conclusion‚ the purpose

    Premium Management Strategic management Educational psychology

    • 3666 Words
    • 15 Pages
    Powerful Essays
  • Good Essays

    ZZZ Best Company Inc. ZZZ Best CompanyInc. is good example for being explored by accounting students regarding audit field. In this case‚ ZZZ Best CompanyInc.‚ which is established by Barry Minkow‚ became a tool for its owner i. E. Barry Minkow to get money by lying to thrid parties via fictitious insurance restoration project. Difficulties in developing carpet cleaning industry made Barry Minkow think to get money in wrong way. Collaborate with Tom Padgett and also extensive social

    Premium Audit Barry Minkow Financial audit

    • 593 Words
    • 3 Pages
    Good Essays
  • Good Essays

    ZZZZ Best company is one of the biggest examples of Accounting Frauds. The founder of ZZZZ best was Barry Minkow. He was a very smart young entrepreneur when he started the company. He was involved in credit card forgeries prior to starting his own carpet cleaning business “ZZZZ Best Company”. Minkow began his business with small carpet cleaning jobs and he became a multimillionaire in a very short period of time. Minkow met a person named Tom Padgett at Los Angeles Health club. This was the beginning

    Premium Fraud Barry Minkow Audit

    • 1013 Words
    • 5 Pages
    Good Essays
  • Powerful Essays

    Case 1.9 ZZZZ Best CompanyInc1. Ernst & Whinney audit firm suffered tremendously from the backlash of ZZZZ Best’s case. One of the issues stemming from ZZZZ Best’s case is the difference between a review and an audit as evidence by civil suit filed by a California bank against the firm. The bank claimed that its decision to grant ZZZZ Best’s loan was based on the opinion of Ernst & Whinney review of ZZZZ Best’s financial statements period ending July 31‚ 1986. The case was ruled in favor

    Premium Auditor's report Audit Auditing

    • 854 Words
    • 4 Pages
    Powerful Essays
  • Powerful Essays

    Zzzz Best Case

    • 1628 Words
    • 7 Pages

    1. Ernst & Whinney never issued an audit opinion on financial statements of ZZZZ Best but did issue a review report on the company’s quarterly statements for the three months ended July 31‚ 1986. How does a review differ from an audit‚ particularly in terms of the level of assurance implied by the auditor’s report? A review engagement is needed to obtain basis for providing what is known as limited assurance. This gives the client’s financial statements to be prepared properly with GAAP (Generally

    Premium Audit Financial audit Auditing

    • 1628 Words
    • 7 Pages
    Powerful Essays
  • Good Essays

    The claim that Larry Gray lacked sufficient knowledge of the client’s business or industry is evident in several scenarios. First‚ Gray did not perform an analysis of the industry. Paragraph five of AS No.9 states that “planning the audit includes establishing the overall audit strategy for the engagement and developing an audit plan‚ which includes‚ in particular‚ planned risk assessment procedures and planned responses to the risks of material misstatement.” Planned risk assessment procedures

    Premium Audit Auditing Barry Minkow

    • 927 Words
    • 3 Pages
    Good Essays
  • Satisfactory Essays

    Case Study – ZZZ BestInc. 1. Ernst & Whinney never issued an audit opinion on financial statements of ZZZZ Best but did issue a review report on the company’s quarterly statements for three months ended July 31‚ 1986. How does a review differ from an audit particularly in terms of the level of assurance implied by auditor’s report? A quarterly review report is issued by a CPA and reviewed by an auditor to provide assurance that the financial statements are fair and follow the GAAP standards. Quarterly

    Premium Auditing Audit Financial audit

    • 700 Words
    • 3 Pages
    Satisfactory Essays
  • Powerful Essays

    Auditing Concepts ZZZZ Best CompanyInc Case Solutions: 1. A review is performed to obtain a reasonable basis for providing limited assurance that the client’s financial statements have been prepared in conformity with generally accepted accounting principles. An independent audit is designed to provide a reasonable basis for expressing an opinion concerning whether or not a client’s financial statements have been prepared in accordance with generally accepted accounting principles.

    Premium

    • 1280 Words
    • 6 Pages
    Powerful Essays
  • Good Essays

    ZZZZ Best Case: 1. According to the Public Company Accounting Oversight Board (PCAOB) AS 2610 .09 and .03 successors have the responsibility to obtain information regarding a new audit client from the clients’ previous auditor however‚ auditors may submit a proposal to conduct an audit engagement before this condition is fulfilled. The purpose for this communication is to ensure that the new auditor can interpret the trustworthiness and integrity of the proposed client. Information that might affect

    Premium Audit Audit Financial audit

    • 749 Words
    • 3 Pages
    Good Essays
Previous
Page 1 2 3 4 5 6 7 8 9 50