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Source: Knapp, Michael C. (2001) Contemporary Auditing, Real Issues & Cases 4th Ed. Belmont: Southwestern-Thompson Learning. J.B. HANAUER CO. & Pick up the financial statements of a brokerage flying house house self-colored and you wiIl . h d a labyrinthine sense sheet quite different from the distinctive corporate balance sheet.: Take practiced away & Rrilly, for example, a big discount broker. In a recent balance sheet, Quick & Reilly describe total assets of some 52.3 billion. Receivables from customers and other brokerage firms accounted for well-nigh 95 percent ot those assets. L~kewise, snort-term payables tend to dominate the Liabilip view of a brokerage 5rms balance sheet. Quick k Rrilly reported 52.3 billion of liabilities. 94 percent of which involved debts to customers and other brokerage firms. Clearly, confirmation procedures for receivables and payables are alpha audit tests applied to brokerage cfients. So it was in the previous(a) 1970s and early eighties for the annual audits of J.B. Hanauer & Co., a brokerage firm headquartered in youthful Jersey that had several beginning offices in south Florida. Stanley Goldberg supervise the annual audits of J.B. Hanauer & Co. for several years. During his career, Goldberg served as a partner with deuce-ace different public chronicle firms: J.K. Lasser & Co., Touche Ross & Co., and Richard A. Eisner & Co.

Goldberg became a parmer of Touche Ross following a merger between that firm and J.K. Lasser. When Goldberg left Touche Ross to join Eisner, Hanauers executives insufficiencyed Goldberg to continue supervising their annual audits. As a result, in 1980 th! ese executives dismissed Touche Ross and retained the Eisner firm. Hanauers fiscal vear ended on hiarch 31. two to three months prior to that date, Goldberg send a Genior and two or more staff accountants to Hanauers offices to i. Tnls part was developed primad? h r n the iollowlng source: Securities and diversify Commission. .Iccountiny ;zndduditinq E.?forcmmf Rrlrose No. 13, 22 family line 1983. 1 CO SECTION...If you want to get a full essay, instal it on our website: BestEssayCheap.com

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