Howard Street Jewelry Accounting Case Study on Internal Controls: 1
This is the Howard Street Jewelers jewelry store page
This is our Howard Street Jewelers jewelry store page. We have listed the full address of Howard Street Jewelers, phone numbers and websites. Howard Street Jewelers is in Baltimore, Howard Street Jewelers sells, luxury jewelry, cheap jewelry, diamonds, watches, gold and silver jewelry in Baltimore. They also will help you with choosing wedding jewelry and help with chains and watches in Baltimore. This jewelry store is in Baltimore, County: Baltimore City, State: MD.
Howard Street Jewelers Case - Book Report
The CPA is currently on retainer with Howard Street Jewelers through the end of the year, so he has a duty to his client to provide necessary services, although they are out of scope and likely not detailed in the client’s engagement letter. The retainer charged to the client will need to be credited toward any out of scope billings that the CPA assesses his client.
The CPA will also need to verify the validity of any payments that Howard Street Jewelers made to vendors. He will do this by referring to the vendor-level purchase ledger and comparing to the Cash journal and bank records to ensure that they were duly recorded. If any differences arrive, they should be totaled and combined with the sales differences form the above paragraph.there may be a problem. In addition to preparing tax returns for Howard Street Jewelers, alternately assume that the CPA (a) audited the business's annual financial...2. When Mrs. Levi informed the CPA of her suspicions regarding Betty, what responsibilities, if any, did the CPA have to pursue this matter? Because the CPA was just doing their taxes, he doesn't have any real responsibilities to pursue the matter any further. However, if he suspected something was amiss he should have discussed it with the Levi's to let them know there may be a problem. In addition to preparing tax returns for Howard Street Jewelers, alternately assume that the CPA (a) audited the business's annual financial statements. If the CPA were their auditor, he would have a responsibility to bring any hint of fraud to the attention of the audit committee. (b) reviewed the annual financial statements. If the CPA were hired to review the annual financial statements, he would be responsible to inform the Levi's of any discrepancies he may find. (c) Compiled the annual financial statements. He would be responsible to inform the Levi's of any discrepancies found.... An Integrated Approach, Arens, Elder and Beasley, Prentice-Hall, Inc., 12th ... Howard Street Jewelers. Pinnacle IV 14-34 Thurs. Oct. 30 18. Audit Sampling for Tests of ...Howard Street Jewelers Thursday, October 28, 2004 . Major discussion issue What major factors allowed this fraud to occur? What key factors should have helped ...Preface. 1. Comprehensive Cases. Enron Corporation. Lehman Brothers Holdings Inc. Just for FEET, Inc. Health Management, Inc. The Leslie Fay Companies. NextCard, Inc. Lincoln Savings and Loan Association. Crazy Eddie, Inc. ZZZZ Best Company, Inc. DHB Industries, Inc. New Century Financial Corporation. Madoff Securities. AA Capital Partners, Inc. Navistar International Corporation. Livent, Inc. 2. Audits of High-Risk Accounts. Jack Greenberg, Inc. Golden Bear Golf, Inc. Take-Two Interactive Software, Inc. General Motors Company. Lipper Holdings, LLC. CBI Holding Company, Inc. Geo Securities, Inc. Belot Enterprises. Powder River Petroleum International, Inc. LocatePlus Holdings Corporation. 3. Internal Control Issues. The Trolley Dodgers. Howard Street Jewelers, Inc. United Way of America. First Keystone Bank. Goodner Brothers, Inc. Buranello's Ristorante. Foamex International Inc. The Boeing Company. Wal-Mart de Mexico. 4. Ethical Responsibilities of Accountants. Creve Couer Pizza, Inc. F&C International, Inc. Suzette Washington, Accounting Major. Freescale Semiconductor, Inc. Wiley Jackson, Accounting Major. Arvel Smart, Accounting Major. David Quinn, Tax Accountant. Dell Inc. AccuHealth, Inc. Wichita Falls. 5. Ethical Responsibilities of Independent Auditors. Cardillo Travel Systems, Inc. American International Group, Inc. The North Face, Inc. IPOC International Growth Fund, Ltd. Phillips Petroleum Company. Ryden Trucking, Inc. Richard Grimes, Staff Accountant. 6. Professional Roles. Leigh Ann Walker, Staff Accountant. Bill DeBurger, In-Charge Accountant. Hamilton Wong, In-Charge Accountant. Tommy O'Connell, Audit Senior. Avis Love, Staff Accountant. Charles Tollison, Audit Manager. 7. Professional Issues. Ligand Pharmaceuticals. Sarah Russell, Staff Accountant. Bud Carriker, Audit Senior. Hopkins v. Price Waterhouse. Fred Stern & Company, Inc. (Ultramares Corporation v. Touche et al.). First Securities Company of Chicago (Ernst & Ernst v. Hochfelder et al.). Elizabeth Wallace, Audit Senior. Frank Coleman, Staff Accountant. Olivia Thomas, Audit Senior. 8. International Cases. Longtop Financial Technologies Limited. Kaset Thai Sugar Company. Republic of Somalia. Republic of the Sudan. Shari'a. Mohamed Salem El-Hadad, Internal Auditor. Tae Kwang Vina.