A Day in the Life of Brent Dorsey

In: English and Literature

Submitted By angelsusanto
Words 2674
Pages 11
A Day in the Life of Brent Dorsey
A Staff Auditors’ Professional Pressures

Learning Objectives
• Understand some of the pressures faced by young professionals in the workplace
• Generate and evaluate alternative courses of action to resolve a difficult workplace issue
• Understand more fully the implications of "eating time" and "premature sign-off"
• More fully appreciate the need to balance professional and personal demands

Brent Dorsey graduated eight months ago with a master's degree in accounting. After graduating, Brent began working with a large accounting firm in Portland. He is now on his second audit engagement—a company called Northwest Steel Producers. Working day-to-day with Brent on the audit are two other staff auditors, Scott Olsen and Megan Mills, along with the senior auditor, John Peters. Scott and Megan are both second-year staff accountants and are anticipating a promotion to senior in the next year.
John Peters has been with the firm for about five years and has been a senior-level auditor for almost three years. Following this busy season, the partners and managers will sit down and decide which seniors to promote to managers. The rumor around the office is that only four or five of the seven eligible seniors in the office will be promoted in the Portland office. Those not promoted in Portland will most likely be asked to transfer to other offices within the firm that need new managers. Some may even be "counseled out" of the firm. John has done a reasonably good job in the audits he's been in charge of, yet he feels he is "on the bubble" as far as the promotion in Portland goes. He has recently received several performance evaluations that have criticized him for letting his jobs get "out of control" (i.e., over budget and beyond deadline). He believes his performance on the Northwest Steel Producers audit could make a…...

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A Day in the Life of Brent Dorsey: Staff Auditor Professional Pressures

...Some alternatives that are available to Brent in regards to the audit of payables are eaten time, working until it is done, and not competing audit procedures. Eaten time is where the auditors lower how many invoices they pull. Working until it is done is where the auditors do everything they should do but only report they either come under budget or at the budget hours. Not competing audit procedures is where the auditors just does not compete the procedures of GAAS. The pros of eaten time are that the group of auditors will come under or at the 35 hours. Another pro of eaten time are that the group of auditors could get some time off that they wanted so that they could spend time with their families. Also another pro of eaten time are that the group of auditors could possibly get promoted to senior auditor. Another pro of eaten time is that the group of auditors could gain popularity and respect from their fellow coworkers. The cons of eating time are that the group of auditors could possibly miss some invoices that had fraud being committed or mistakes that were made. Another con of eaten time is that group of auditors are not following GAAS, so if Northwest Steel goes under they could possibly be sued. Also another con of eaten time is that the group of auditors could face getting fired or just not getting the promotion they all seek. Another con of eaten time is that the group of auditors would be setting a high standard and expectation for new auditors. They firm may...

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