Auditing, executive memorandum
Instructions
The topic set by the Faculty pertains to the subject-matter taught in the course and end product must reflect these. There are no recipes given and this is done on purpose in order to not impede creativity and enable great students to shine. The memorandum will be work listing all the main Auditing problems you think that will come with the case.
Answer
Auditing, Executive MemorandumThe case provided involves the auditing issues related to Fund of Funds, a company with a close relationship to Bernie Cornfeld. Auditing problems for the company were established by Arthur Andersen. One of the auditing issues, as can be derived from the case study, is the central issue of the excessive prices that were charged by King Resources in regard to the assets and properties for gas and oil. The problem here is that Fund of Funds was incurring exorbitant prices for the properties acquired. Secondly, their NRPA investment was characterized by illiquidity which results in complications when it came to the computation of the NAV. In line with this, the evidence provided in the ensuing lawsuits provided that there was significant fraud in the financial an...
To avoid plagiarism, part of the answer is hidden. Click on the button below to order the full answer.
Order Answer
Back
Price Calculator
Manage orders
Why we are Ranked the best
- Unlimited Revisions
- Free 24/7 Support and chat
- Money back guaranteed
- Low prices with discounts
- Experienced writers.
- Free Unlimited support