ACC 562 WEEK 4 ASSIGNMENT 2 NORTH FACE
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ACC 562 WK 4 ASSIGNMENT 2 NORTH FACE
ACC 562 WK 4 Assignment 2 – North Face
Read the case study titled “North Face” prior
to doing this assignment.
Write a four to five (4-5) page paper in which
you:
1.
The SEC sanctioned
Richard Fiedelman for failing to document the changes that his subordinates had
made in 1997 North Face work papers and for failing to exercise due
professional care. Explain the SEC’s rationale in making each of these
allegations.
2.
Take a position on the
severity of the SEC’s punishment of Richard Fiedelman of a three-year
suspension on being involved in the audits of SEC clients. Support your
position.
3.
Assume that you are an
audit manager in a public accounting firm. The engagement partner asks you to
modify client work papers after the financial statements and opinion has been
issued. Determine what you would do in this situation. Provide your rationale.
4.
Evaluate the practice
of “materiality” used by public accounting firms and how accounting firms
should address it with clients.
5.
North Face’s
management teams were criticized for strategic blunders that they made over the
course of the company’s history. Discuss whether auditors have a responsibility
to assess the quality of the key decisions made by client executives. Defend
your answer.
6.
Use at least three (3)
quality resources in this assignment.
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