S&W LLP is a mid-size, national audit firm with 55 offices in 40 states around the U.S. S&W is also a member of an international network of firms that share technologies and some services. S&W is known to specialize in the technology and healthcare sectors, and audits primarily nonpublic and small publicly traded companies. Recently, S&W’s leadership has decided that the best business direction for the firm is to pursue growth, develop a practice specializing in the financial services industry, and pursue larger publicly traded clients.
First International Bank is a large, multi-national bank that operates in 40 countries on 4 continents. First International Bank is the fifth largest bank in the world and engages in many specialized services besides banking like complex derivative offerings, mortgage-backed securities offerings, and reinsurance.

a. List the characteristics of S&W’s current structure and future plans that make First International Bank a desired audit client?
b. What characteristics of S&W make First International Bank an undesirable audit client for the firm?

  • CreatedJanuary 21, 2015
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