If I get an A+ I will tip well! :-) Present a summary of the


Question Description:

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If I get an A+ I will tip well! 🙂 Present a summary of the Case. This is vital because not everyone will be using the same edition of the casebook. When you critique a case that was prepared by another study, you will quickly come to appreciate a good case summary. The cases are of varying lengths and have required questions ranging from 2–10 questions. Therefore, there can be no pre-determined minimum or maximum length to the postings. However, the majority of the cases will require 3–8 pages, double-spaced, 12-point font, with a minimum of 5 references, to receive a passing grade. (The reference page is not a part of the page count.) Answer the questions one at a time. Begin your answer by copying the question.The question-and-answer format will not be in APA style, but the references and the citations to the references must be in APA style. The same reference may be cited more than once. The reference should be listed at the end of the questions, titled “References.” Case 6.6.doc CASE 6.6 Charles Tollison, Audit Manager “No, that’s okay, Bea. I’ll write that memo this weekend and send it to Mr. Fielder. You go on home.”1 “Are you sure, Chuck? I don’t mind staying a while longer.” “Thanks, Bea, but you’ve already put in too much overtime this week.” After he sent his secretary home, Charles Tollison spent several minutes shuffling through the audit workpapers and correspondence stacked on his desk, trying to decide what work he would take home over the weekend. Finally, only one deci- sion remained. Tollison couldn’t decide whether to take the inventory file with him. Compulsive by nature, Tollison knew that if he took the inventory file home, he would have to complete his review of that file, which would increase his weekend workload from 6 hours to more than 12 hours. As he stewed over his decision, Tollison stepped to the window of his office and idly watched the rush-hour traffic on the downtown streets several stories below. It was nearly 6:30 on a Friday evening in early August. Charles Tollison, an audit manager for a large international accounting firm, had suffered through a tough week. His largest audit client was negotiating to buy a smaller company within its industry. For the past two months, Tollison had supervised the fieldwork on an intensive acquisition audit of the competitor’s accounting records. The client’s chief executive officer (CEO) suspected that the competitor’s executives had embellished their firm’s financial data in anticipation of the proposed buyout. Since the client was overextending itself financially to acquire the other firm, the CEO wanted to be sure that its financial data were reliable. The CEO’s principal concern was the valuation of the competitor’s inventory, which accounted for 45 percent of its total assets. The client’s CEO had requested that Tollison be assigned to the acquisition audit because she respected Tollison and the quality of his work. Normally, an audit man- ager spends little time “in the trenches” supervising day-to-day audit procedures. Because of the nature of this engagement, however, Tollison had felt it necessary to spend 10 hours per day, six and seven days per week, poring over the accounting records of the takeover candidate with his subordinates. As Tollison stared at the gridlocked streets below, he was relieved that the acquisi- tion audit was almost complete. After he tied up a few loose ends in the inventory file, he would turn the workpapers over to the audit engagement partner for a final review. Tollison’s tough week had been highlighted by several contentious meetings with client personnel, a missed birthday party for his eight-year-old daughter, and an early breakfast Thursday morning with his office managing partner, Walker Linton. During that breakfast, Linton had notified Tollison that he had been passed over for promo- tion to partner—for the second year in a row. The news had been difficult for Tollison

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