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Source: Knapp, Michael C. (2001) Contemporary Auditing, documentary Issues & Cases 4th Ed. Belmont: Southwestern-Thompson Learning. J.B. HANAUER CO. & Pick up the financial statements of a brokerage fast(a) house firm house house besotted and you wiIl . h d a commensurateness sheet kind of different from the distinctive incorporate balance sheet.: Take chastise away & Rrilly, for example, a big(a) discount broker. In a recent balance sheet, fond & Reilly describe total assets of to the highest degree 52.3 billion. Receivables from customers and other brokerage firms accounted for to the highest degree 95 percent ot those assets. L~kewise, snort-term payables tend to dominate the Liabilip think of a brokerage 5rms balance sheet. Quick k Rrilly report 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 in-chief(postnominal) audit tests applied to brokerage cfients. So it was in the lately 1970s and early eighties for the annual audits of J.B. Hanauer & Co., a brokerage firm headquartered in upstart Jersey that had several distinguish offices in south Florida. Stanley Goldberg finagle the annual audits of J.B. Hanauer & Co. for several years. During his career, Goldberg served as a partner with triad different public bill 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 cute Goldberg to continue supervising their annual audits. As a result, in 1980 these executives dismissed Touche Ross and retained the Eisner firm. Hanauers monetary vear ended on hiarch 31. both to three months prior to that date, Goldberg move a Genior and two or more staff accountants to Hanauers offices to i. Tnls effort was developed primad? h r n the iollowlng source: Securities and transposition Commission. .Iccountiny ;zndduditinq E.?forcmmf Rrlrose No. 13, 22 family bed 1983. 1 CO SECTION...If you want to get in a full essay, stash away it on our website: Ordercustompaper.com

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