Prepare and submit a 2-3 page paper analyzing the Ligand Pharmaceuticals case.

by Osman
Words: 95
Pages: 1
Subject: Accounting
Topics: APA format, Assignment help, Homework help, Ligand Pharmaceuticals

Auditing accounting estimates

Read the Case 7.1 Ligand Pharmaceuticals in the Knapp casebook. you will find it in the book. page 433-338

Prepare and submit a 2-3 page paper analyzing the Ligand Pharmaceuticals case.

  • What went wrong in the auditor’s risk assessment procedures?
  • Which of the three methods for substantively testing the estimate did the auditor choose?
  • What could or should the auditor have done differently?

The standard should be used for this case + reading that on the attachment

  1. PCAOB AS 2501: Auditing Accounting Estimates, including Fair Value Measurements
  2. AICPA Statement on Auditing Standards No. 14