A senior manager at the Toronto office of accounting firm Davis, Ellis & Thurn (DE&T) represented on this past year's Upper Canada Bank (UCB) audit and wondered how he should plan for the approaching 2012 audit. The senior supervisor was responsible for overseeing the audit of UCB's retail segment (UCBR). Specifically, he was concerned about the test-of-controls portion of the audit that was UCBR, since the team had faced some challenges the preceding summer.
For a long time, UCB had been a client of DE&T, but it was just in 2011 that the company had bid on and was granted the test-of-controls piece, which had formerly been completed on behalf of DE&T by UCB's internal auditors. Now, reflecting on the last year's engagement, the senior supervisor wondered what changes he would make with respect to training, staffing, and budgeting, and to the client relationship as a way to make sure that the customer was fulfilled and the UCBR audit stayed profitable.
PUBLICATION DATE: August 17, 2012 PRODUCT #: W12150-PDF-ENG
This is just an excerpt. This case is about FINANCE & ACCOUNTING
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