Importance Of Non-financial Information Research Articles

The Importance of Non-Financial Information in Financial Situations for the Sustainability of the National Economy

The Importance of Non-Financial Information in Financial Situations for the Sustainability of the National Economy

Waste Is Our Business, Inc.: The importance of non-financial information in the audit planning process

Abstract The objectives of this case are: (a) to alert students to the importance of non-financial information in the audit process; (b) to develop students’ ability to search for relevant financial and non-financial information in the audit planning process; and (c) to emphasize the importance of resisting the natural tendency to over-rely on financial information when conducting the financial statement audit. Students are asked to consider both financial and non-financial information when evaluating a client’s account balances. The client is in the waste business where there are a number of market, regulatory, and political factors that may affect the valuation of different accounts. Students are also directed to consider the importance of non-financial information in the integrated audit mandated by PCAOB Standard 5 and in fraud detection. The case can help students learn to explicitly consider non-financial information and understand the significance of integrating such information with financial data. The case is suitable for use in undergraduate or graduate auditing and assurance courses.

Waste is Our Business, Inc.: The Importance of Non-Financial Information in the Audit Planning Process

The objectives of this case are: (a) to alert students to the importance of non-financial information in the audit process; (b) to develop students' ability to search for relevant financial and non-financial information in the audit planning process; and (c) to emphasize the importance of maintaining professional skepticism and to resist the natural tendency to over-rely on financial information when conducting the financial statement audit. Students are asked to consider both financial and non-financial information when evaluating the client's account balances. The client is in the waste business where there are a number of market, regulatory, and political factors that may affect the valuation of different accounts. Students are also directed to consider the importance of non-financial information in the integrated audit mandated by PCAOB Standard 2 and in fraud detection. The case can help students learn to explicitly consider non-financial information and understand the significance of integrating such information with financial data. The case is suitable for use in undergraduate or graduate auditing and assurance courses.