Sally Knox worked as the parts manager for East River Automobiles, a local automobile dealership. Sally was
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This raised more concern. Although Sally assured the auditors the parts were just misplaced, the auditors continued the count. After completing the count of parts on hand, the auditors could document only $155,000 of actual parts. Suddenly, Sally quit her job and moved to another state.
Required
a. What do you suppose caused the discrepancy between the actual count and the count that Sally had supplied?
b. What procedures could be put into place to prevent this type of problem?
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Related Book For
Fundamental Financial Accounting Concepts
ISBN: 978-0078025907
9th edition
Authors: Thomas Edmonds, Christopher Edmonds
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