Question attached
The case study must be in APA format with a minimum one-page requirement.
Use APA formatting to write your paper and to document your sources. Submit with cover page. It will be important to cite your sources both in-text and on your reference page.
PROFESSIONAL SKEPTICISM
INTERNATIONAL
Parmalat LO 8 As an example of difficulties that auditors experience in collecting confirmations of cash balances, consider the Parmalat fraud that was exposed in 2003. In that case, the company overstated cash by about $5 billion, which reflected a fictitious amount in a Bank of America account in the Cayman Islands. The Italian segment of the audit firm, Grant Thornton, received a cash confirmation that noted no exceptions to the confirmation the audit firm had sent. Parmalat accomplished the deception, in part, by providing the audit firm with a fictitious bank mailing address.
What role does the concept of materiality play in the substantive testing of cash balances?
How might online resources and associated electronic confirmation processes help to avoid fraud associated with cash confirmations?
What are two or three key factors the auditor might consider that could have indicated that the cash account was a high-risk account for this client and would require more skeptical audit work?
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Written Assignment Case – Analysis Format
The purpose of the Case Study Analysis learning tool is to provide an opportunity for the student(s) to demonstrate the application of knowledge to a management/organizational scenario. Since most management problems are inherently multidimensional, the use of the Case Study Analysis tool is a ‘hands-on’ process that helps students experience organizational complexities within a thoughtful forum. Therefore, the quality of your responses is more important than the quantity. Keep in mind the student-learning model: Absorb, Synthesize, Analyze, Apply, Conclude and Demonstrate. Your report will be (1-2 pages in length, APA format).
Defining the central problem (Introduction) 5 PTS
Provide a summary statement to demonstrate an understanding of the problem being presented. Summary statements are, typically, 3 – 5 sentences. This introduction supports your thesis or proposition statement.
Case Summary 5 PTS
The summary should be brief and highlight the key factors or events relevant to your analysis or position.
Identify the relevant factor(s) and explain why they are important to the case. 10 PTS
It is not unusual for a case to have several relevant factors that are crucial to identifying a course of action. However, it is critical to the analysis that the relevant factors number no more than 3 and that it represents the graduate student’s choice (not the instructor) and it is important to state ‘Why’ you think the factor(s) you have chosen are important.
Analysis 10 PTS
The analysis section must be organized in a logical fashion, be written in a manner that advances your thesis; be supported by supplemental research, and demonstrate the ability to apply key course concepts to the actual case.
Recommendations 5 PTS
The recommendations section must include your solutions to the problems you have identified in the analytical section. It is important that your recommendations, if implemented, adequately address all of the problems that you indicate are in existence. Additionally, each recommendation needs to meet the test of feasibility. In other words, are these actions cost-effective, could they realistically be implemented, and are they in compliance with regulations?
Conclusions 5 PTS
Identify a course of action you would take to resolve the case problem and what do you think needs to happen once the action has been taken. Feel free to support your course of action through personal, vicarious and/or classroom experiences.
References 5 PTS
All sources cited within your work are to be included in your references section in APA form.
APA Format, Grammar and Style 5 PTS
Paper must be written in the appropriate APA format and style 6th ed.