What factors likely contributed to the oversights made by the Ernst & Young auditors during the 2004

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What factors likely contributed to the oversights made by the Ernst & Young auditors during the 2004 AA Capital engagement? Identify measures that audit firms can implement to minimize the likelihood of such oversights on audit engagements.

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Contemporary Auditing

ISBN: 978-1285066608

8th edition

Authors: Michael C. Knapp

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Question Posted: Oct 02, 2014 07:34 AM

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What factors likely contributed to the oversights made by the Ernst & Young auditors during the 2004

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a The fact that both McNeeley and Oprins were new to the AA Capital engagement almost certainly resulted in a learning curve effect for each of them For example because McNeeley didnt have a history w...View the full answer

Contemporary Auditing

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