Publisher's Synopsis
Widget Maker - The Accounting Firm's brand-new audit client:
"Widget Maker - a large manufacturing company that makes widgets." Staff 2 began, "They are a-" "Wait!" interrupted Partner. "All they do is make widgets? I thought they also made gadgets." "Nope, just widgets," Manager replied, patiently. "They told us in the bid process that they are looking into making gadgets, but they need more cash flow from widgets before they can make gadgets." "Why are we auditing Widget Maker?" Senior 3 asked. Manager pinging Senior 3: It was either Widget Maker or ABC Company. "I can't believe you!" Partner exclaimed. "Why do we take on any new client? Audit fees, of course!" When the auditors arrive at Widget Maker: "They only uploaded seven of the 359 items on our request list," Staff 2 let out a long sigh as he clutched the sides of his head. "And, according to what Finance Manager just told us, at least five of those items are wrong!" "Well, I guess it can't get much worse than this. What else could really go wrong?" Intern tried to console Staff 2. Senior 1 pinging Manager: Interns are so naïve. "$2 BILLION in sales with only $500,000 in operating cash flows - I think you will be surprised at just how much will go wrong!" Manager exclaimed. "My first grader could manage that much money and produce better results." When the audit really gets going: "Our previous auditors never asked us this many questions," Assistant Controller complained. "No nit too small to pick, I guess," Finance Manager added. "Nothing ties!" Senior 1 fired back. "We've found 27 errors in our first three weeks here, so I will ask as many questions as I need to!" Senior 3 pinging Manager: Do you think we should tell Partner that all 27 errors we found so far came from super low hanging fruit? Will everything end in disaster, or will Manager and The Accounting Firm team avoid a crash landing and hit the deadline? Manager pinging Readers: The best is yet to come!