Visit at least five local stores in your area. Speak with a manager or store receiver about the inventory control procedures required for that establishment. If possible, obtain a copy of a flowchart of their inventory process, as many organizations use this type of visual aid to help guide inventory procedures. Be sure to explain this information is for coursework and will be kept in confidence. Develop and document five to 10 questions for your contacts, along with the responses you receive.
This documentation will be a required appendix for your PowerPoint presentation.
From your textbook, complete Discussion Case 13-33 and answer the corresponding question regarding fraud investigation. Assume you have showed this case to senior management of your organization as the case questions are along the lines of the fraud issues your corporation faces. The interviews, along with the answers to this case, will help you to formulate your presentation for your organization’s leadership team. Senior management team members are concerned about growing cases of inventory fraud and have asked for your recommendations on how to proceed from an accounting perspective. Reflect upon Case 13-33 and your interview experience to help justify your solutions to this important issue.
Incorporate appropriate animations, transitions, and graphics as well as “speaker notes” for each slide. The speaker notes may be comprised of brief paragraphs or bulleted lists. Be sure to include citations for quotations and paraphrases with references in APA format and style where appropriate.
Support your presentation with at least five (5) additional scholarly resources. In addition to these specified resources, other appropriate scholarly resources may be included.
Length: 12-15 slides (with a separate reference slide)
Notes Length: 200-350 words for each slide
External Resource (S): Books and Resources for this Week
1. Messier, W. F., Glover, S. M., & Prawitt, D. F. Auditing and assurance services: A systematic approach. New York, NY McGraw-Hill Higher Education.
Review Chapter 13
2. Evidence Complexity and Information Search in the Decision to Restate Prior-Period Financial Statements.
Authors: Ricchiute, David N.1
Source: Journal of Accounting Research. Jun2010, Vol. 48 Issue 3, p687-724. 38p. 1 Diagram, 3 Charts, 1 Graph.
Document Type: Article
Abstract:
Framed in the decision to restate financial statements, this study addresses whether behavior predicted by competing theories depends on the complexity of evidence. Two experiments observe the information-search behavior of auditors responsible for investigating their firm’s prior opinion. Experiment 1 shows that auditors confronted with few (many) summarized statements that replicate in form the materials used in prior research prefer to first search statements that are inconsistent (consistent) with the prior-period accounting. This result generally corroborates research in accounting and confirms the predictions of information-quantity theory in psychology. In contrast, experiment 1 also shows that, when materials mimic the detailed documents common in practice, the results are different: Auditors confronted either with few or with many detailed documents prefer to search inconsistent documents first. This result confirms the predictions of evidence-complexity theory in psychology and shows that, compared to the materials on which prior research relies, detailed documents, such as memos, emails, letters, and analyses, drive information search toward inconsistent evidence. Experiment 2 probes further and finds that auditors evaluate documents bearing notes inscribed after the documents were prepared to be more inconsistent with the prior-period accounting, and that the dispersion in search behavior may be reliably conditional on the presence of notes. [ABSTRACT FROM AUTHOR]
Copyright of Journal of Accounting Research is the property of Wiley-Blackwell and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder’s express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)
Author Affiliations: Mendoza College of Business, University of Notre Dame
Full Text Word Count: 16848
ISSN: 0021-8456
DOI: 10.1111/j.1475-679X.2010.00366.x
Accession Number: 49072716
3. Ricchiute, D. N. (2010, June). Evidence complexity and information search in the decision to restate prior-period financial statements.
4. Trompeter, G., & Wright, A. (2010, Summer). The world has changed-Have analytical procedure practices?