In December 1997, an audit partner of Deloitte had to render an opinion on five separate but related issues arising from the current working relationship with Livent, the Canadian firm live entertainment. Each question can be viewed in several ways, and did not seem immediately obvious solution to each of them. Questions included assessment of the impact of side agreements between Livent and real estate development firm, whether booking revenues for the theater-naming rights in a particular fiscal quarter, preliminary audit production costs, excluding the proceeds from the sale of accounts receivable from related parties and the evaluation of the audit of accounts payable. It was important to address each of the issues in a few days to complete the file to meet the requirements of registration. The auditor should determine the best advice for each question, knowing that Deloitte had to protect his reputation, but still growing its revenues in a tough competition for their business. "Hide
by Murray J. Bryant, Ken Mark Source: Richard Ivey School of Business Foundation 7 pages. Publication Date: September 11, 2008. Prod. #: 908B06-PDF-ENG
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