The Theater's Backstage: When Numbers Serve the Show—A Case Study on Livent (Part 1)*

IF 1.6 Q3 BUSINESS, FINANCE

Accounting Perspectives Pub Date : 2022-05-23 DOI:10.1111/1911-3838.12312

Angélique Malo, Cynthia Courtois

引用次数: 0

Abstract

On November 19, 1998, Toronto entertainment company Livent Inc. filed for protection under the Companies' Creditors Arrangement Act, further to issuing a press release stating that the company's audited financial statements contained irregularities. This high-profile bankruptcy serves as a reminder that Canadian companies are not immune from financial manipulations. The proposed case study lets students act as the auditors responsible for the audit engagement for Livent's financial year ended December 31, 1996, which was the financial year that preceded its failure. Students will be responsible for discussing the work performed by Deloitte & Touche and implementing audit procedures for complex transactions that the company has handled. The students must be capable of identifying the factors that may have impacted the audit and the engagement risk and will be asked to establish materiality. This case study is based on facts as related by the press and the various legal authorities who dealt with the affair.

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剧院的后台:当数字服务于表演时——对活动的案例研究(第一部分)*

1998年11月19日，多伦多娱乐公司Livent Inc.根据《公司债权人安排法》申请保护，并发布新闻稿称该公司经审计的财务报表存在违规行为。这起引人注目的破产案提醒人们，加拿大公司也不能幸免于财务操纵。拟议的案例研究让学生充当审计人员，负责Livent截至1996年12月31日的财政年度的审计工作，这是该公司倒闭前的一个财政年度。学生将负责讨论德勤所做的工作。接触并执行公司处理过的复杂交易的审计程序。学员必须能够识别可能影响审计和审计业务风险的因素，并被要求确定重要性。本案例研究基于媒体和处理该事件的各种法律当局所提供的事实。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Accounting Perspectives BUSINESS, FINANCE-

CiteScore

2.60

自引率

0.00%

发文量

期刊介绍： Accounting Perspectives provides a forum for peer-reviewed applied research, analysis, synthesis and commentary on issues of interest to academics, practitioners, financial analysts, financial executives, regulators, accounting policy makers and accounting students. Articles are sought from academics and practitioners that address relevant issues in any and all areas of accounting and related fields, including financial accounting and reporting, auditing and other assurance services, management accounting and performance measurement, information systems and related technologies, tax policy and practice, professional ethics, accounting education, and related topics. Without limiting the generality of the foregoing.