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Auditing, accounting, finance, control.
Abstract
Subject area
Auditing, accounting, finance, control.
Study level/applicability
Upper level undergraduate, MBA, MS accounting.
Case overview
This case takes an internal approach by exploring how PricewaterhouseCoopers - Egypt develops and applies industry specialization in an emerging market such as Egypt. The case focuses on three aspects of specialization. First, the strategic drivers behind specialization. Second, the internal processes of building industry-specific knowledge. Finally, the costs and benefits of specialization.
Expected learning outcomes
Industry specialization is a strategy:
Specialization is a strategy primarily used by Big 4 auditing firms, such as PwC-Egypt as a means of differentiating it self from the market.
Specialization is a strategy primarily used by Big 4 auditing firms, such as PwC-Egypt as a means of differentiating it self from the market.
Industry specialization is a culture:
For specialization to be fully effective a learning culture should be in place in which firm personnel are committed to continually seek new in-depth knowledge about clients and their industries.
For specialization to be fully effective a learning culture should be in place in which firm personnel are committed to continually seek new in-depth knowledge about clients and their industries.
Human resources are the most valuable asset of auditing firms:
Auditing is a service that involves extensive professional judgment. Thus, knowledge and expertise of its personnel is what differentiates one auditing firm's staff from another.
Auditing is a service that involves extensive professional judgment. Thus, knowledge and expertise of its personnel is what differentiates one auditing firm's staff from another.
Supplementary materials
Teaching notes.
Details
Keywords
The case “Corporate Governance Failure at Ricoh India: Rebuilding Lost Trust” discusses the series of events post disclosure of falsification of the accounts and violation of…
Abstract
Subject area
The case “Corporate Governance Failure at Ricoh India: Rebuilding Lost Trust” discusses the series of events post disclosure of falsification of the accounts and violation of accounting principles, leading to a loss of INR 11.23bn for the company, eroding over 75 per cent of its market cap (Financial Express, 2016). The case provides an opportunity for students to understand the key components of corporate governance structure and consequences of poor corporate governance. The case highlights the responsibility of the board of directors, audit committee and external auditors and discusses the changes required in the corporate governance structure necessary to ensure that such incidents do not take place. The case also delves into the classic dilemma of degree of control that needs to be exercised by the parent over its subsidiaries and freedom of independence given to the subsidiary board, which is a constant challenge all multinationals face. Such a dilemma often leads to the challenge of creating appropriate corporate governance structures for numerous subsidiaries.
Study level/applicability
The case is intended for MBA courses on corporate governance, business ethics and also for the strategic management courses in the context of multinational corporations. The case can be used to develop an understanding of the essential of corporate governance with special focus on the role of the board of directors, audit committee and external auditors. The case highlights the consequences and cost of poor corporate governance. The case can also be used for highlighting governance challenges in the parent subsidiary relationship for multinational corporations. The case can be used for executive training purposes on corporate governance and leadership with special focus on business ethics.
Case overview
This case presents the challenges faced by the newly appointed Chairman Noboru Akahane of Ricoh India. In July 2016, Ricoh India, the Indian arm of Japanese firm Ricoh, admitted that the company’s accounts had been falsified and accounting principles violated, leading to a loss of INR 11.23 bn for the financial year 2016. The minority shareholders were agitating against the board of directors of Ricoh India and were also holding the parent company responsible for not safeguarding their interest. Over a period of 18 months, Ricoh India had been in the eye of a storm that involved delayed reporting of financials, auditor red flags regarding accounting irregularities, a forensic audit, suspension of top officials and a police complaint lodged by Ricoh India against its own officials. Akahane needed to ensure continuity of Ricoh India’s business and also act quickly and decisively to manage the crisis and ensure that these incidents did not recur in the future.
Expected learning outcomes
The case provides an opportunity for students to understand the key components of corporate governance structure and consequences of poor corporate governance. More specifically, the case addresses the following objectives: provide an overview of corporate governance structure; highlight the role of board of directors, audit committee and external auditors; appreciate the rationale behind mandatory auditor rotation; appreciate the consequences of poor corporate structure; explore the interrelationship between sustainability reporting and transparency in financial disclosures of a corporation; understand management and governance of subsidiaries by multinational companies; and understand the response to a crisis situation.
Supplementary materials
Teaching notes are available for educators only. Please contact your library to gain login details or email support@emeraldinsight.com to request teaching notes.
Subject code
CSS 11: Strategy.
Details
Keywords
Alexander W. Ng, Lasse Mertins and Charles L. Martin
Winstar Communications was a successful and fast growing telecommunication company in the 1990s and early 2000s. However, in the early 2000s, the company started to struggle…
Abstract
Synopsis
Winstar Communications was a successful and fast growing telecommunication company in the 1990s and early 2000s. However, in the early 2000s, the company started to struggle financially. In 2000, Grant Thornton audited Winstar, issuing an unqualified opinion. After Winstar went into bankruptcy in 2002, investors started to question the quality of the audit. This teaching case is based on the Gould v. Grant Thornton case that was tried in the United States Court of Appeals in 2011/2012. It provides accounting students with an opportunity to learn about auditing procedures and the consequences when auditing procedures are not correctly followed.
Research methodology
Teaching case study.
Relevant courses and levels
This case study is suitable for introductory undergraduate auditing, advanced undergraduate auditing and master level auditing courses.
Details
Keywords
Zamzulaila Zakaria, Zarina Zakaria, Noor Adwa Sulaiman and Norizah Mustamil
Undergraduate courses: Auditing, Leadership, Management accounting. Postgraduate courses: Leadership, Management accounting.
Abstract
Study level/applicability
Undergraduate courses: Auditing, Leadership, Management accounting. Postgraduate courses: Leadership, Management accounting.
Subject area
Auditing, Leadership, Management accounting
Case overview
This case documents the journey of a professional accountancy organisation, namely, the Malaysian Institute of Accountants (MIA) and document the MIA’s journey on the establishment of digital blueprint for the accounting profession in Malaysia including some major milestone in innovating audit evidence-gathering technique by introducing e-confirm for auditing bank confirmation in Malaysia. This case highlights the significant role played by a lady chief executive officer (CEO) in embarking into the digitalisation of the accountancy profession and practice in Malaysia. While the ultimate objective of digital blueprint is to transform the accounting and auditing practices in Malaysia, the CEO has led by example by embedding digitalisation within MIA’s practices itself.
Expected learning outcomes
The learning outcome of this paper are as follows: to develop students’ understanding on the right attitudes, skills and characters that a successful leader should possess in contemporary business environment by focusing on dilemma and stereo-typing faced by women leaders; to develop the students’ understanding on the changes in business environment particularly the rise of digital technology that affecting the ways in which accounting functions in organisations; to encourage students to be aware that technical accounting knowledge is just one of the key success factors in the career of a professional accountant. The case offer insight into accountants’ role in digital environment and the development needed for accounting profession; to demonstrate how auditing process can benefit from the advancement in technology; and to encourage critical discussion on the development of accounting profession in Malaysia. The case aims to develop students’ critical discussion on the roles of MIA as a regulator of accounting profession and to appreciate historical development of accounting profession in Malaysia. The case also aims to encourage students to realise the existence of other professional accounting bodies, accounting practitioners and academic accountants, and together with MIA, they play significant role in shaping the accounting profession in Malaysia.
Supplementary materials
Teaching notes are available for educators only. Please contact your library to gain login details or email support@emeraldinsight.com to request teaching notes.
Social implications
The case has a strong implication on the role of effective leaders in ensuring that significant efforts involved in digitalisation journal, a vital need for the accountancy professional to continue to be a relevant profession, is a success.
Subject code
CSS 1: Accounting and Finance.
Keywords
Women leadership, Digitalisation, Professional accountancy organisation, Electronic bank confirmation, Malaysia
Details
Keywords
Finance, accountancy, auditing.
Abstract
Subject area
Finance, accountancy, auditing.
Study level/applicability
Supports information systems audit (ISA), auditing practises and controls, corporate governance and internal controls and financial management modules, business administration and MBA programmes.
Case overview
The case study focuses on the implementation of ISA and information technology in the highly responsible task of executing financial audits The case emphasises on the fact that the advantages of ISA can only be reaped when they are amalgamated with an auditor's scrutiny, sharp eye, extensive knowledge of auditing systems and accounting principles and a rich experience of the auditing function. The suggested synergy also facilitates a reduction of around 60 per cent, in the cost of executing the audits and the man-hours required to complete the audit, as in the case of Jain Chowdhary & Company.
Expected learning outcomes
The case helps students to comprehend the relevance of audit trail. It emphasises on the importance of identifying the source of information and tracking raw data backward. It familiarises the students with the complexities involved in a real audit and emphasises on the role of logic, intelligence, diligence, patience and farsightedness while performing the auditing function. It is important for them to understand how White collar crimes take place in real business economy. This case, hence exposes students to these nuances and can make a student, from a non-commerce background, understand the key elements of efficient auditing. (Elaborate teaching objectives are appended in the teaching note.)
Supplementary materials
Teaching note.
Details
Keywords
Siti Seri Delima Abdul Malak and Wan Nordin B Wan Hussin
The case is appropriate for courses in financial accounting and reporting, audit and assurance, forensic accounting, accounting practice and regulations and corporate governance…
Abstract
Learning outcomes
The case is appropriate for courses in financial accounting and reporting, audit and assurance, forensic accounting, accounting practice and regulations and corporate governance. After studying the case, students should be able to explain the concept of control and power under IFRS; explain the concept of economic; discuss audit committee and external auditor independence issues and ways to strengthen auditor’s independence; assess the usefulness of the new extended audit report; and evaluate the role of gatekeepers such as financial analysts, audit committee, external auditor, institutional investors and regulators in enhancing the quality of financial reporting.
Case overview/synopsis
This case focuses on the accounting policy choices of the foreign associates of AirAsia Berhad. AirAsia Berhad is a phenomenal success, from a debt laden company to having been voted as World’s Best Low-Cost Airline in the annual World Airline Survey by Skytrax for eight consecutive years from 2009 to 2016 and the World’s Leading Low-Cost Airline in the annual World Travel Awards for four consecutive years from 2013 to 2016. In June 2015, an analyst report was leaked, and it led to heated discussion and exchanges in the market. The report questioned the non-consolidation of AirAsia Berhad associates. The share market also reacted. Various players in the market came into foray with their statements and opinions on the merit of the accounting policy choice by AirAsia Berhad. Whose views actually reflect the nature of accounting policy choice that is true and fair? Are these gatekeepers attesting to the accounting crux of substance over form?
Complexity academic level
Senior undergraduates; MBA; EMBA
Supplementary materials
Teaching Notes are available for educators only. Please contact your library to gain login details or email support@emeraldinsight.com to request teaching notes.
Subject code
CSS: 1: Accounting and Finance
Details
Keywords
Jayanti Bandyopadhyay, Hongtao Guo, Miranda Lam and Jinying Liu
We obtained information on China Gerui from secondary published sources, including annual reports downloaded from the Securities and Exchange Commission’s (SEC) EDGAR database…
Abstract
Research methodology
We obtained information on China Gerui from secondary published sources, including annual reports downloaded from the Securities and Exchange Commission’s (SEC) EDGAR database, news sites and newspapers, the company’s website and journal articles. One of the authors visited the China Gerui plant in Henan, China.
Case overview/synopsis
China Gerui, a Chinese metal fabrication company, enjoyed exponential growth because of its location, product innovation and ability to move up the value chain. At the height of its success, the company listed on the Nasdaq and had plans to raise capital to fund ambitious expansion plans. Unfortunately, four years after listing on Nasdaq, the company received a letter from the listing qualifications department notifying China Gerui that they were not in compliance with Nasdaq’s filing requirements because it had not filed its Form 20-F. Now, the company had only five days to decide whether to request an appeal of the letter.
Complexity academic level
This case is best suited for higher-level undergraduate accounting and finance courses such as intermediate accounting, auditing, international accounting, financial statement analysis, corporate finance and investments analysis. It is especially appropriate for graduate-level global accounting and advanced financial statement analysis courses. In these courses, the best placement is after coverage of SEC regulations and requirements for financial statement reporting and disclosure. Moreover, the case may be used as a tool to demonstrate the step-by-step process for searching and retrieving information from a public company’s filings through the SEC’s EDGAR database.
Supplementary materials
Teaching notes are available for educators only. Please contact your library to gain login details or email support@emeraldinsight.com to request teaching notes.
Details
Keywords
Vivek Roy, B.S. Sahay and Parikshit Charan
This case is intended for use in a course on supply chain management.
Abstract
Subject area
This case is intended for use in a course on supply chain management.
Study level/applicability
The study is applicable to MBA or executive MBA programme.
Case overview
The Akshaya Patra Foundation (TAPF) is an Indian non-governmental organisation which provides free mid-day meals to students in government schools. This case revolves around one of its kitchen facility (TAPF Bhilai) located in Bhilai in the Chhattisgarh province of India. TAPF Bhilai is about to witness a significant increase in the number of students to cater for. The Unit President, Vyomapada Das, is determined to ensure that there is no compromise in the standards of service in terms of quality and hygiene of meals in the wake of present expansions. As such, he recognizes that addressing a social cause brings additional responsibilities to them towards ensuring superior quality meals. He thereby lays a special emphasis upon the role of purchasing and supply in facilitating the scale expansion.
Expected learning outcomes
This case intends to demonstrate the process of managing, purchasing and supply for a socially responsible supply chain. Students must be able to appreciate the challenges associated with such a system. By applying the key theoretical concept of the social capital theory, they must also understand the nature of managerial responses inherent in these challenges.
Supplementary materials
Teaching notes are available for educators only. Please contact your library to gain login details or email support@emeraldinsight.com to request teaching notes.
Subject code
CSS 9: Operations and Logistics.
Details
Keywords
Organizational innovation, leading change, customer service management in professional service firms.
Abstract
Subject area
Organizational innovation, leading change, customer service management in professional service firms.
Study level/applicability
Advanced undergraduate, MBA/executive education.
Case overview
This case describes the human resource (HR) dilemma faced by BDO Hungary in 2010, an international audit and tax consulting partnership, operating in the country since 1989. In order to continue its past growth story and to reach closer to “Big Four” BDO has to enter new business segments, offer more services to its existing customers and seize higher value-added business potentials. The new strategy, however, is challenged by its incumbent, traditional core business: auditing, which is highly regulated by ethical, legal, and professional standards including non-advertisement regulations to which the resulting organizational culture and HR routines are congruent. The case is described from the perspective of the Equity Partner, HR Director and Executive MBA student, who is tasked with a new HR plan for training and development and is charged with implementing it successfully. How best to adjust current training and development policies to the best meet new strategic growth goals? How to develop existing human capital? How to make employees more commercially oriented in such a conservative, risk averse, and highly regulated environment? How to improve their customer service and the sales skill?
Expected learning outcomes
Exploring the importance of training and development in improving customer service levels in professional service firms operating in emerging markets. Understanding the limitations and the possibilities of transferring international HR policies and standards across borders and cultural differences.
Supplementary materials
Teaching notes.
Details
Keywords
Mohammad Rishad Faridi and Aisha Javid Ali Mir
Upon completion of the case, students will be able to reflect the forces, which may disrupt the art industry through Artientifique initiatives and the ability to apply Phoenix…
Abstract
Learning outcomes
Upon completion of the case, students will be able to reflect the forces, which may disrupt the art industry through Artientifique initiatives and the ability to apply Phoenix encounter method with proactive scanning to remain competitive; create various multi-functional roles as a youth entrepreneur in the micro, small and medium enterprises (MSMEs) capacity and be able to understand the level and review the competition and business trends from an art industry perspective; analyze how innovation clubbed with sustainability will create a competitive advantage in a circular economy; determine the leadership style most appropriate for MSMEs to indulge in innovation and sustainability in the fine arts business; and design and discover opportunities to promote women’s entrepreneurship in the art industry, especially in emerging markets.
Case overview/synopsis
On a cold Friday morning in November 2020, Aisha Mir was in utter confusion written all over her face. She had to decide on a prosperous pathway. Should it be customization or standardization of artwork? Also, whether she should continue investing in the existing in-house supply chain or outsource this to a third party. Being practicing sustainability in her personal and professional life, she had designed her art studio herself by using upcycled materials. While enjoying the pigeons and sparrows chirping and eating grains on her wide windowpane, she looked at the world map with keen interest and imagined herself flying to each country along with her gray and white pigeons. While sitting in Madina city, Saudi Arabia, she was concerned about the expired makeup collection hub being set up in Abu Dhabi, UAE. The collection and the painting processes had to be monitored; the artworks needed auditing, framing and packing before they were shipped to a customer. Centralizing would add unnecessary hassle, and outsourcing needed distribution of authority. Keeping the challenges in mind, she was struggling to find a solution for efficient community engagement.
Complexity academic level
This case has been particularly focused on undergraduate and postgraduate early-stage level students pursuing business or commerce programs, particularly those studying entrepreneurial and management courses in innovation and sustainability.
Supplementary materials
Teaching notes are available for educators only.
Subject code
CSS 3: Entrepreneurship.
Details