Ocean Manufacturing Inc

Identify two facts from the case that you prove particularly enkindle (this can be everything- it doesnt have to be directly accounting-related ). The showtime spatial relation that I found interesting is that Most of the ratios of Ocean Manufacturing argon sink than the industry. So as meeters should figure go forth the reason behind this. The second situation is that the auditor turnover high. In 12 years they had three auditors.It is a major problem as why maritime manufacturing hanged it auditors rapidly at such suddenly period of time. As an auditor I should look into the matter more closely. 2. If applicable, what victor Standards were violated in this case? muster either CASE standards or Rules of schoolmaster Conduct. You may want to research the standards in your text, Handbook, or online. N/A 3. dupe you are working as an auditor in public accounting. Name iodin lesson tattoo could learn from this case. Ocean Manufacturing executives are very aggressive.If t hey are taken as a invitee I would be careful. They tried to manipulate their yearned accruals to meet need of Creditors. As they are planning to spree PIP they force want to do it again. As an auditor I learnt that I should take account of past behaviors and next intension when I am auditing a client. 4. As we all know, hindsight is 20/20. For cases where the client committed fraud, are there any red flags the auditor overlooked that might have allowed them to uncover the fraud in the beginning?