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ACC450 W4Assignment.docx ACC450 Problems Week 4 Grantham University Problems Week 4

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ACC450 W4Assignment.docx ACC450 Problems Week 4 Grantham University Problems Week 4 ï‚· Chapter 7: Fraud Focus: Contemporary and Historical Cases 7-58. Kid Castle Educational Corporatio... n and Brock, Schechter & PROFESSIONAL SKEPTICISM INTERNATIONAL ETHICS FRAUD General Background. On May 22, 2012, the audit firm of Brock, Schechter & Polakoff LLP (hereafter BSP) was censured and fined $20,000 by the PCAOB in relation to its audits of public companies located in Taiwan and China. These public companies were listed on U.S. stock exchanges. James Waggoner, BSP™s director of accounting and auditing, was the BSP auditor responsible for the audits. The charges against BSP and Waggoner include the following: BSP failed to develop policies and procedures to assure that the firm undertook only audit engagements that it could expect to conduct with professional competence. Prior to undertaking the audits of the . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [Show More]

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