Unit 7 Individual AssignmentCase Study: Missing ReceiptsStudent Name: _____________________________________Prepare a presentation that addresses the issues in the case below Address your presentation to accounting students studying the cases as a lesson in ethics, and you are the instructor.Be creative with your presentation!Case Study â The Case of Missing ReceiptsAmy and Jane are newly minted CPAs and are currently assigned as external auditors as part of the audit team from XYZ, LLP responsible for the financial audit of the school district of Hamptons located in the state of New York for FYE 2016. Amy and Jane are experiencing major difficulties tracing the original documentation for travel and documentation reimbursement claims made by the top business manager of the district. The manager is aware of the concerns of Amy and Jane and approached them about it. The following conversation took place:Manager: I have spent an inordinate amount of time requesting for copies of these receipts from the hotel where I stayed. Unfortunately, the vendor informed me that my receipts are no longer available for them to reproduce a copy of.Amy: How about your credit card statement that shows you paid for these amounts? Could you produce those?Manager: I did not use a credit card. I paid for them in cash.Jane: How about a copy of the reservations that you made? Nowadays, we often make reservations online. You may be able to retrieve this information from your email archive.Manager:I delete all my emails after 3 months. I donât have any of this.Amy: Is there any other proof that you can provide to substantiate this reimbursement?Manager:Girls, what can I tell you? I canât produce what I donât have and others are unwilling to provide me with. What do you want me to do?Instructions: To fully address the questionsbelow, use the following pointers as your guide:1)Analyze the ethical question or dilemma2)Consider the stakeholders that are likely to be affected by these actions.3)Analyze Alternatives and/or consequences4)Defend a viewpoint5)Discuss core beliefs, its origins and relationship to the accounting profession Questions:1)Amy and Jane are CP
As and members of the AICPA. What ethical standards in the Code of Professional Conduct should guide them in dealing with the dilemma presented by the manager here?2)Should Amy and Jane report these findings to their audit manager? 3)The manager is very friendly and personable. During the course of the audit, he has often purchased lunch for the audit team even if the team refused to do under the guise that this is a treat for everyone. Amy and Jane are afraid that reporting this situation may have a negative impact on the managerâs job. Should they be concerned about this? 4)What should the firm do regarding this information? What are the proper procedures that they should observe?5)Besides the missing receipts, would the actions of the business manager here prompt you to consider performing additional tests? Why or why not?Prepare a presentation that addresses the issues in the case study presented here. Refer to the assignment template for case details. Address your presentation to accounting students studying the cases as a lesson in ethics, and you are the instructor. Points PossiblePoints EarnedNotesIntegration of Knowledge and Critical AnalysisExcels in responding to assignment and demonstrates mastery and has applied course concepts and materials learned in the course. Presents a clear, focused, and compelling argument.40Evidence and SupportResponses are thoroughly supported by strong, specific and appropriate evidence. All areas of the case have been addressed using relevant and recent research and information available including but not limited to standard auditing textbook, the âStatements on Auditing Standardsâ issued by the Auditing Standards Board, or any other relevant authoritative pronouncements produced by the AICPA and the PCAOB30Organization and StructureResponses flow logically to craft a cohesive argument. Paragraphs clearly guide the reader through a progression of ideas15Style, Mechanics and CitationsThe writing is clear and concise and almost entirely free from spelling, grammar and punctuation errors. As applicable in the assignment, all sources are cited correctly and completely following the APA format.15Total100