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The Controller Who Had Been with Bianca Limited for Six

question 32

Essay

The controller who had been with Bianca Limited for six years was fired last month,allegedly for pocketing cash.Unfortunately,there was a fire in the accounting department the week before he was fired,which destroyed the accounting records,including the computer equipment and current backup disks.The only records available for the current year is a copy of the computer system that is a month old.There are also disks for the year-ends going back three years.These were at the president's home,the place where the company kept archival records.
Required:
Explain how this situation might affect the audit process.


Definitions:

Components of Diversity

The various attributes and characteristics that make individuals or groups different from each other, including but not limited to, race, gender, culture, and sexual orientation.

Businesses

Organizations engaged in commercial, industrial, or professional activities aimed at generating profits.

Big Five Model

A psychological model describing five core dimensions of human personality: openness, conscientiousness, extraversion, agreeableness, and neuroticism.

Trusting

The act of having confidence in the reliability, truth, ability, or strength of someone or something.

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