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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 house house house starchy and you wiIl . h d a balance sheet instead different from the distinctive corporate balance sheet.: Take mightily away & Rrilly, for example, a big discount broker. In a recent balance sheet, Quick & Reilly describe total assets of close to 52.3 billion. Receivables from customers and other brokerage satisfyings accounted for well-nigh 95 portion 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 all important(predicate) audit tests applied to brokerage cfients. So it was in the new 1970s and early eighties for the yearbook audits of J.B. Hanauer & Co., a brokerage firm headquartered in youthful Jersey that had several wooden leg 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 explanation 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 emergencyed Goldberg to continue superv ising their annual audits. As a result, in 1! 980 these executives dismissed Touche Ross and retained the Eisner firm. Hanauers pecuniary vear ended on hiarch 31. two to three months prior to that date, Goldberg direct a Genior and two or more staff accountants to Hanauers offices to i. Tnls study was developed primad? h r n the iollowlng source: Securities and turn 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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