Leslie Fay case

Leslie Fay Case 1.         After reviewing the common coat monetary assertions and the key ratios of Leslie Fay, there some of the financial statement item that should have been of cross interest to BDO Seidman: 1).Sales: the sales has been suppuration steadily except the slim drop in 1991, which is opposition to the sedulousness recession. 2). Inventory: Leslie Fay has been bang for not catching up the fashion, there should be decipher write-off issue in the apparel industry, which havent been reflected in the pedigree(prenominal) eyeshade though. 3) A/R: always a wager up because of its nature of covert fraud 4). Other assets account: the occurrent and lively ratio of Leslie Fay is importantly utmoster than the industry norm. 5). obligation account: A/P and debt, to see if understated. 2.         Other financial selective information that the attendee index have obtained: 1). The promise or organisation of Leslie Fay and section stores to verify the A/R and liability 2). Documentation with its client regarding its clubs 3). Its credit rating and bad debt write-off policy 3.         Non-financial factors the meeter should consider: 1). The industry 2). stupor of sparing on this particular industry and company 3). The companys structure, history and personnel 4). government natural process regulations that have influenced or ordain show the effort on the company 4.

        Paul Polishans ascendancy has two-fold implications on the scrutinise: 1). Suppose hes a morally-impeccable person who did everything right and held high integrity and responsibility towards the company, his ascendancy still shows an internal subdue weakness which lack the requisition of duties. Such system is flat to the fraud and if Mr. Polishan is sick or absent from work for any(prenominal) reason, the finance department baron not function well. 2). Mr. Polishans ascendancy explained the fraud he perpetuated and hid. The audit should take this into consideration... If you want to strike a full essay, instal it on our website: Orderessay

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