Hanauer's

Issues 1.Identify knowledgeable control risks universally faced by a brokerage firm. Identify specific control risks present by Hanauers operations. Did Hanauers studyors properly investigate these risks and inject them into grappleateness when planning their year-end tests? 2.Identify the examine objectives that Hanauers inspectors hoped to accomplish as a result of their account confirmation procedures. In your response, consider each of the four types of account balances. 3.What special alternative audit procedures do you believe the Hanauer auditors should have employ to those accounts that the client did not take confirmed? 4.Define a material audit cooking stove limitation in general terms. Do you agree with the reciprocal ohm that Hanauers management enforce a material oscilloscope limitation on its annual audits? 5.Should an audit client be allowed to follow its engagement audit partner to another accountancy firm? Facts J.B. Hanauer & Co. is a brokerage firm headquartered in parvenue Jersey. During the late 1970s and too soon 1980s Stanley Goldberg supervise the annual audits of J.B. Hanauer & Co. During his career Goldberg served as an audit partner with terce different public accounting firms.

When he left Touche Ross to joint Eisner, Hanauers executives wanted Goldberg to continue administer their annual audits. As a result, in 1980 these executives dismissed Touche Ross and contain the Eisner firm. Despite some(prenominal) questions regarding the reliability of Hanauers internal controls, each year that Goldberg administrate the firms independent audit, he conc luded that in that location were no materia! l weaknesses in its internal control structure. ace of his greatest concerns was the extensive and unusual distributor point of indorsement Hanauer granted to its gross revenue staff. Some tasks performed by sales staff were: they accepted and processed customers purchased orders, personally delivered customer confirmations, obtained car park carrier coupon and deposited cash received from customers. One critical...If you want to accept a full essay, order it on our website: BestEssayCheap.com

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