AUD Wrong Steps

Wrong steps lead To failure results

BarChris construction Corporation

Our company faced bankruptcy after the issuance convertible subordinated debentures.

The problem hers had appeared from the investors , How the company had bankrupted and the auditor had sent unqualified report ??

This problem had titled from the SEC 1933 .

The factors that rises from this problem

we are dealing with GAAS

GAAS inform that the auditor must filed with the audit program that the CPA firms presented and the auditor hadn't work according on the audit program of the CPA firms .

the auditor was inexperience in audits of construction companies so the auditor fails to appropriate flow up in answer by management .

the accountant should not held to higher standard than that reorganized the profession of the procedure .

the court found the auditor didn’t come up to that written standard .

the auditor didn’t spent an adequate amount of time on a task of this magnitude unit .