Rooster, Hen, Footer, and Burger | Online Assignment Help

Author: Client Uploads

April 15th, 2021

Case 5-6 Rooster, Hen, Footer, and Burger

Struggling to find relevant content? Order a custom essay on

Let our experts save you the hassle

Order Now

Barry Yellen, CPA, is a sole practitioner. The largest audit client in his office is Rooster Sportswear. Rooster is a privately owned company in Chicken Heights, Idaho, with a 12-person board of directors.

Barry is in the process of auditing Rooster’s financial statements for the year ended December 31, 2016. He just discovered a related-party transaction that has him worried. For one thing, the relationship has existed for the past two years, but Barry did not discover it. What’s just as troubling is that the client hid it from him.

Rooster bought out Hen Sportswear two years ago but still operates it as a separate entity, and since then has systematically failed to disclose to the private investors related-party transactions involving the CEO of Rooster, Frank Footer. It seems that Footer is borrowing money from Hen and is deeply in debt to the CEO of that company, who is his brother-in-law. Also, Hen has hired relatives of Footer, most of whom are unqualified for their jobs, and pays them an above-market salary. This has been hidden from Barry as well.

Barry was informed by an anonymous tipster that Rooster operates a secret off-balance-sheet cash account to pay for cash bonuses to senior officers, travel and entertainment expenses and an apartment rental for Footer, and cash and noncash gifts to local government officials to “grease the wheels” when permits need to be expedited in favor of Rooster. Barry doesn’t know what to make of it, because he is too focused right now on the related-party transactions with Hen Sportswear.

Barry is in the process of questioning Hans Burger, CPA, who is the CFO of Rooster, about these transactions. Burger explains that he had raised these issues with Footer but was instructed in no uncertain terms to leave them alone. He did just that. Burger told Barry he needed this job and wouldn’t jeopardize it out of a sense of “ethics.”

Barry is in his office back at the firm and reflecting on how best to handle this matter.

Questions

1. What are related-party transactions and the obligations of Barry as the auditor of Rooster Sportswear? Why are related-party transactions a particularly sensitive area?

2. What are Barry’s ethical obligations in this matter? Include in your discussion the issues of concern from an audit perspective and why they should be of concern to Barry in deciding what to do.

Page 329

3. Assume you are Barry’s best friend and he asks for your advice. What would you tell Barry and why? Use ethical reasoning in developing the advice.

Calculate the price

Make an order in advance and get the best price

Type of paper

Academic level

Deadline

Pages (550 words)

$0.00

*Price with a welcome 15% discount applied.

Pro tip: If you want to save more money and pay the lowest price, you need to set a more extended deadline.

We know how difficult it is to be a student these days. That's why our prices are one of the most affordable on the market, and there are no hidden fees.

Instead, we offer bonuses, discounts, and free services to make your experience outstanding.

step 1

Upload assignment instructions

Fill out the order form and provide paper details. You can even attach screenshots or add additional instructions later. If something is not clear or missing, the writer will contact you for clarification.

step 2

Relax

Once you place an order with our professional do my paper services, all you need to do is relax as our experts work to impress you with amazing quality and timing for your order!

step 3

Review the final draft

As soon as the paper is ready, we’ll send you a copy via email. You'll also be able to download it from your account and request a revision or rate the work as appropriate.

Get personalized services with GPA Fix

One writer for all your papers

You can select one writer for all your papers. This option enhances the consistency in the quality of your assignments. Select your preferred writer from the list of writers who have handledf your previous assignments

Same paper from different writers

Are you ordering the same assignment for a friend? You can get the same paper from different writers. The goal is to produce 100% unique and original papers

Copy of sources used

Our homework writers will provide you with copies of sources used on your request. Just add the option when plaing your order

What our partners say about us

We appreciate every review and are always looking for ways to grow. See what other students think about our do my paper service.

Finance

Thank You

Customer 452643, October 24th, 2021

Nursing

They research and provide the best and up-to-date information..

Customer 452707, June 27th, 2023

Nursing

Paid for the paper to be completed 5 days prior than the day I received the paper.

Customer 452693, July 13th, 2022

Other

NICE

Customer 452813, June 25th, 2022

Nursing

Thank you!

Customer 452707, June 29th, 2022

Other

Excellent

Customer 452813, August 21st, 2023

Education

Thank you so much!

Customer 452675, March 17th, 2023

Philosophy

The paper is great. Will definitely use again.

Customer 452773, May 24th, 2022

Technology

The paper is everything I needed and more. I will add a title and a cover page to it. Other than that the paper turned out excellent.

Customer 452885, October 17th, 2022

Marketing

Yes and thank you

Customer 452701, October 25th, 2022

Human Resources Management (HRM)

Thank you so much.

Customer 452701, June 28th, 2023

Social Work and Human Services

Excellent Work!

Customer 452587, November 30th, 2021

OUR GIFT TO YOU

15% OFF your first order

Use a coupon FIRST15 and enjoy expert help with any task at the most affordable price.

Claim my 15% OFF Order in Chat