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Paper must be original please. Thank you. Information is attached Questions 1} Dearlove and Deloitte had identified the audit as posing much greater risk than normal. Describe the risk factors in the

Paper must be original please. Thank you. Information is attached

Questions

1} Dearlove and Deloitte had identified the audit as posing much greater risk than normal. Describe the risk factors in the case that most likely would have led to this conclusion.

2} Classify each of the accounting issues in the case into the financial shenanigans identified by Schilit in Chapter 7. Are there any accounting procedures that do not fit into one of the shenanigans? If not, make up a category to describe such procedures in a general way as did Schilit. Comment on the earnings management effects as well.

3} Describe each of the auditing standards and procedures the auditors failed to adhere to given the facts of the case. How did the failure of the auditors to follow them violate Deloitte’s ethical standards as evidenced by the deficiencies in the work of Dearlove and other members of the audit engagement team?

4} Analyze the actions of Deloitte and Dearlove from an ethical reasoning perspective.

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*********** NameProfessor’s ********************** ************ 1Deloitte and ******** ********** ******** *** ****** a ****** **** than ****** ****** because ** the existing transaction **** ****** ******* ******** had ******** ************ **** ************ *** ******** **** **** ********** **** *** Rigas ****** *** subsidiaries **** beyond Deloitte’s ***** ***** ***** **** of them ***** *********** **** 10-k ****** ******* **** ***** **** it *** ****** scrutiny ********** *** **** ** ***** and misstatement ******* ***** ************ **** the highest ***** ** **** ** *** organization ***** some ******** *** receivables **** ******* *** through *** ********** ************** ****** *** *** ******* risk **** *** normal ********** is *** ********** ** *** ******** the organization ******** ******** *** ******* *** **** ** * ****** ******** ******** *** ****** *** ******* ****** through **** *** *** resulting ********* was * ******* web ** ************* ******** *** ******* *** **** the ************ *** a ******* reporting structure that was *** **** ** ***** ******* ******* ***** Puthenpurackal 2017) Adelphia was also * ********* ************ ***** it carried * ***** **** level that ******** ********* *** implication *** **** *** ******* *** **** to ******** ********* ********* **** ********* ********* ******* ********** of ******** **** *** ** * ******* than ****** **** conclusion from *** auditors ************ ********** *** ************ ** a few ***** **** *** absence ** ********** ******** ** *** * critical issue especially *** * ******* **** *** *********** grown The ********** did *** ****** *** the controls *** *** increase ** ********** *** the ***** growth *** ********** was also aggressive ** ***** accounting ******** ******* ****** little ********** ** the ****** Their interpretation ** ********** ********* was ** *** ******* leading ** ************ ********* ********** They were **** against ******** ********* ******* **** *** ******** **************** **** main financial ********** witnessed ** *** case ** ******* ** ****** ** ********** reducing *********** ******** failed ** disclose financial *********** ** *** *********** ** only discloses *** ******** ** * ******** obligation ** *** ********* It did ******* claim that ******** was not *********** for *** outstanding ****** ********** It was ****** *** *** ******* *** ******* 16 ****** to ***** related entities The ******* *** ** ******** *** **** as * ********** liability *** state *** ****** ** ***** *** ******* ** ******** *** debt amount would ******* *** ********* on ****** * ******** related to *** organization’s ******** ************ **** ********** ******* *** **** ****** ** *** organization ** *** that ** transferring $296 million ******* in **** to *** ***** ** ***** subsidiaries *** ******** ** *** **** ******* the amount ** **** in *** statement ** ********* ******** It *** * ***** approach ***** *** ******** ** *** ********** unless ***** ** ******* ******* *** **** *** ** ***** *** *** ******** ** Rigas ******** ** ******** existed ** ****** **** ***** ******** took **** responsibility *** *** books *** *********** **** also made ** ******* ******* after *** close ** *** ********* ****** The effects *** that the ****** would ***** **** the ************ had *** *********** ***** *** ** ********* that *** ******** ** ***** entities ***** **** ************ Additionally ********** are only permissible **** dealing **** **** two parties ********* ******** ***** ****** ***** *** debt ** ******** belonged ** different ******** *** *** ******* *** ******* *** ******** of Rigas **************** **** ******* failed ** ****** ** *** **** *** *** *** engaging ** unprofessional ** unreasonable conduct The unreasonable conduct ****** **** ** * violation of ********** ************ ********* The **** ********** ************** conduct ** a violation ** **** ***** **** required **** more extensive involvement is ******** if ** ***** posed ******* **** ****** **** *** ******* **** Deloitte *** Dearlove’s ***** *** *** ****** ************ ********** ** Adelphia’s ***** ******** **** ****** ** previous audit ******* ******* the ****** in circumstances in *** ************ *** ******* had ***** rapidly *** increased its **** facilities *** ******** ****** ** increase the ****** ** ************ ********** ****** J * ****** * * ***** **** 017)Deloitte *********** ******** ******* ********* to ******* *** ***** ***** It ******** the *********** ** ********* ********** ** *** levels if the **** of the ***** *** **** ******** ****** ** adhere ** *** ******* ********* **** ** *** *** ******** ************ skepticism ** *** *** **** ** *********** related ***** ************ *** *** ** **** ** ensure the ******** ** ********** ********* The auditors **** unprofessional ***** **** ****** to explore *** ****** **** ******* *** ******* **** **** **** willing ** ******* ******** **** **** knew ************ ************ ******* ************** **** actions ** Deloitte were ********* **** the earliest ***** ******* Dearlove ***** **** ** used conclusions reached in the ********* ****** ** inform *** ****** *** ************ ******* * ******* **** ******* laxity ** *** ***** ***** It *** ******* to settle ******** but *** *** ****** *** ********** ******** ** ********* ***** ** ****** Adelphia’s business ******* ** adhering ** professionalismDearlove was ********* *** issuing false ***** reports ** was ***** ** *** ****** ** *** organization *** ***** issued a ****** **** ********* Adelphia’s good ****** ** *** aware **** *** ********** was ********** ** *** ********** He *** also ***** **** **** *** *** ****** to ***** recommendations *** ***** **** **** * ***** **** ** ****** ** was ********* since ** wanted ** ******** ** ******* **** *** defrauding *** investors         ReferencesBalsam * ******* R H & ************** * ****** Related ***** ************ corporate governance *** *** compensation Journal of ******** ******* ***** ********** ******* ************ * * Dalton D * ***** Harp * L (2017) Neutral and *********** ***** ************ of ************ ********** and ******* *** ******** Accounting ************* *** ******* ** 1-20Franklin * ******** P & ****** * ****** ******* *** Notes ********** *** ******** ********** ****** Principles ** ********** ****** ** Financial 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Click here to download attached files: Adelphia Case.docx
Click here to download attached files: Adelphia Case.docx
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