Abstract
ABSTRACTThis instructional audit case places the student in the role of an audit manager and requires preparation of an audit planning memo that addresses significant risks at SpinalHeal Ltd.—a private Canadian company, with international operations, that develops and distributes medical implants for spinal surgery. This year's audit is particularly challenging. There appear to be significant control deficiencies and potential noncompliance with laws and regulations, as well as several complex accounting issues (revenue recognition, intangible assets, and contingent liabilities) which must be addressed. In addition to drafting the planning memo, the audit manager must resolve how to deal with a partner request and prepare a memo to the client that explains the financial reporting implications of crowdfunding.
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