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Knapp's CONTEMPORARY AUDITING: REAL ISSUES AND CASES, UPDATE, 7th Edition helps you recognize the red flags that often accompany problem audits. The use of real-world cases acquaints you with the work environment of auditors. The updated 7th edition offers an exciting new case describing the 2007 collapse of New Century Financial Corporation which signaled the beginning of the subprime mortgage crisis in the United States. The new case addresses Section 404 of the Sarbanes-Oxley Act and PCAOB AS #5 to keep you up-to-date. In addition, a new "International Cases" section examines auditing challenges in Australia, China, India, Japan, Russia, South Africa, and several others. The updated 7th Edition fully integrates risk assessment standards recently adopted by the auditing community.
Michael Knapp has taught undergraduate and graduate auditing courses for more than twenty years. He has developed numerous online CPE courses and has testified in several major litigation cases involving accounting and auditing issues. His honors at the University of Oklahoma include the Merrick Foundation Teaching Award; Arthur Andersen Faculty Fellow, School of Accounting; Honorary Faculty Member, Golden Key National Honor Society; Distinguished Educator Award, School of Accounting; John E. Mertes, Jr., Presidential Professor; Delta Sigma Pi Professor of the Year, Price College of Business; and McLaughlin Chair in Business Ethics.
SECTION 1: COMPREHENSIVE CASES. 1.1: Enron Corporation. 1.2: Just for Feet, Inc. 1.3: Jamaica Water Properties. 1.4: Health Management, Inc. 1.5: The Leslie Fay Companies. 1.6: Star Technologies, Inc. 1.7: Lincoln Savings and Loan Association. 1.8: Crazy Eddie, Inc. 1.9: ZZZZ Best Company, Inc. 1.10: United States Surgical Corporation. 1.11: New Century Mortgage. SECTION 2: AUDITS OF HIGH-RISK ACCOUNTS. 2.1: Jack Greenberg, Inc. 2.2: Golden Bear Golf, Inc. 2.3: Happiness Express, Inc. 2.4: CapitalBanc Corporation. 2.5: SmarTalk Teleservices, Inc. 2.6: CBI Holding Company, Inc. 2.7: Campbell Soup Company. 2.8: Rocky Mount Undergarment Company, Inc. SECTION 3: INTERNAL CONTROL ISSUES. 3.1: The Trolley Dodgers. 3.2: Howard Street Jewelers, Inc. 3.3: Saks Fifth Avenue. 3.4: Triton Energy Ltd. 3.5: Goodner Brothers, Inc. 3.6: Troberg Stores. SECTION 4: ETHICAL RESPONSIBILITIES OF ACCOUNTANTS. 4.1: Creve Couer Pizza, Inc. 4.2: F&C International, Inc. 4.3: Suzette Washington, Accounting Major. 4.4: Oak Industries, Inc. 4.5: Wiley Jackson, Accounting Major. 4.6: Arvel Smart, Accounting Major. 4.7: David Quinn, Tax Accountant. 4.8: Jack Bass, Accounting Professor. 4.9: Thomas Forehand, CPA. SECTION 5: ETHICAL RESPONSIBILITIES OF INDEPENDENT AUDITORS. 5.1: Cardillo Travel Systems, Inc. 5.2: Mallon Resources Corporation. 5.3: The North Face, Inc. 5.4: NextCard, Inc. 5.5: Koger Properties, Inc. 5.6: American Fuel & Supply Company, Inc. SECTION 6: PROFESSIONAL ROLES. 6.1: Leigh Ann Walker, Staff Accountant. 6.2: Bill DeBurger, In-Charge Accountant. 6.3: David Myers, WorldCom Controller. 6.4: Tommy O'Connell, Audit Senior. 6.5: Avis Love, Staff Accountant. 6.6: Charles Tollison, Audit Manager. 6.7: Hamilton Wong, In-Charge Accountant. SECTION 7: PROFESSIONAL ISSUES. 7.1: PricewaterhouseCoopers Securities, LLC. 7.2: Stephen Gray. 7.3: Scott Fane. 7.4: Hopkins v. Price Waterhouse. 7.5: Sarah Russell. 7.6: Bud Carriker. 7.7: National Medical Transportation Network. 7.8: Fred Stern & Company, Inc. (Ultramares). 7.9: First Securities Company of Chicago (Hochfelder). SECTION 8: INTERNATIONAL CASES. 8.1: Livent, Inc. 8.2: Royal Ahold, N.V. 8.3: Kansayaku. 8.4: Registered Auditors, South Africa. 8.5: Zuan Yan. 8.6: Kaset Thai Sugar Company. 8.7: Australian Wheat Board . 8.8: OAO Gazprom. 8.9: Tata Finance Limited. 8.10: Baan Company N.V. 8.11: Institute of Chartered Accountants of India.