Xerox Case
Any stakeholders of the Xerox Case.
Who are Xerox stockholders, Xerox employees, KPMG Partners, the general public?
Threat to independence prevalent when client is showing aggressive behavior to auditor.
What is Undue Influence?
Firm auditing Patisserie Valerie and failed to conduct proper testing.
What is Grant Thornton UK LLP?
KPMG partners involved in the auditing of Xerox.
Who are Michael Conway, Anthony Dolansky, and Thomas Yoho?
Threat to independence prevalent when auditor makes management decisions for the client.
What is Management Participation?
Amount by which Patisserie Valerie's financial position was inflated by.
What is 94 million pounds?
Major principles violated by Xerox or KPMG
What are Objectivity and Independence, Public Interest, Responsibilities?
Threat to independence prevalent when auditor has a financial stake in the company.
What is Self-Interest?
Major principles violated by auditors of Patisserie Valerie.
What are Objectivity & Independence, Integrity, Due Care, and Responsibility?
Term to describe type of accounting Xerox used to inflate its earnings by misstating revenue from leases.
What is "topside accounting?"
Threat to independence prevalent when auditor is the sole review of their own work or work done by others in the same firm.
Specific financial transaction indicative of inflated earnings that auditors failed to question.