CASE 6.

2
Bill DeBurger, In-Charge Accountant
“Bill, will you have that inventory memo done by this afternoon?”
“Yeah, Sam, ifs coming along. I should have it done by five, or s0.”
“Make it three... or so. Okay, Bub?”
Bill responded with a smile and a nod. He had a good relationship with Sam Hakes, the
partner supervising the audit of Marcelle Stores.!
Bill DeBurger was an in-charge accountant who had 18 months of experience with his
employer, a large national accounting firm. Bil's firm used the title “in-charge” for the
employment position between staff accountant and audit senior. Other titles used by
accounting firms for this position include “advanced staff” and “semi-senior.” Typically, Bill's
firm promoted individuals to in-charge after one year. An additional one to two years
experience and successful completion of the CPA exam were usually reguired before
promotion to audit senior. The title “in-charge" was a misnomer, at least in Bill's mind. None
of the in-charges he knew had ever been placed in-charge of an audit, even a small audit.
Based upon Bill's experience, an in-charge was some- one a senior or manager expected to
work with little or no supervision. “Here's the audit program for payables. Go spend the
next five weeks completing the 12 program steps ...and don't bother me,” seemed to be the
prevailing attitude in making work assignments to in-charges.
As heturned back to the legal pad in front of him, Bill forced himself to think of Marcelle
Stores' inventory—all $50 million of it. Bil's task was to summarize in a two-page memo 900
hours of work that he, two staff accountants, and five internal auditors had done over the
past two months. Not included in the 900 hours was the time spent on eight inventory
observations performed by other offices of Bill's firm.
Marcelle Stores was a regional chain of 112 specialty stores that featured a broad range of
products for do-it-yourself interior decorators. The company's most recent fiscal year had
been a difficult one. A poor economy, increasing competition, and higher supplier prices had
slashed Marcelle's profit to the bone over the past 12 months. The previous year, the
company had posted a profit of slightly less than $8 million: for the year just completed, the
company's pre-audit net income hovered at an anemic $500,000.
Inventory was the focal point of each audit of Marcelle's financial statements. This year,
inventory was doubly important. Any material overstatement discovered in the inventory
account would convert a poor year profit-wise for Marcelle into a disas- trous year in which
the company posted its first-ever loss.
Facing Bill on the small table that served as his makeshift desk were two stacks of
workpapers, each two feet tall. Those workpapers summarized the results of exten- sive
price tests, inventory observation procedures, year-end cutoff tests, an analysis af the
reserve for inventory obsolescence, and various other audit procedures. Bill's task was to
assimilate all of this audit evidence into a conclusion regarding Marcelle's inventory.
 Bill realized that Sam Hakes expected that conclusion to include the key catch phrase
“presented fairly, in all material respects, in conformity with generally accepted accounting
principles.”
As Bill attempted to outline the inventory memo, he gradually admitted to himself that he
had no idea whether Marcelle's inventory dollar value was materially accu- rate. The
workpaper summarizing the individual errors discovered in the inventory account reflected
a net overstatement of only $72,000. That amount was not material even in reference to
Marcelle's unusually small net income. However, Bill realized that the $72,000 figure was
little better than a guess.
The client's allowance for inventory obsolescence particularly troubled Bill. He had heard a
rumor that Marcelle intended to discontinue 2 of the 14 sales departmenis in its stores. If
that were true, the inventory in those departments would have to be sold at deep
discounts. The collective dollar value of those two departments' inventory approached $6
million, while the client's allowance for inventory obsolescence had a year-end balance of
only $225,000. Earlier in the audit, Bill had asked Sam about the rumored closing of the two
departments. The typically easygoing partner had replied with a terse “Don't worry about
it.”
Bill always took his work assignments seriously and wanted to do a professional job in
completing them. He believed that independent audits served an extremely important role
in a free market economy. Bill was often annoyed that not all of his colleagues shared that
view. Some of his co-workers seemed to have an attitude of “just get the work done." They
stressed form over substance: “Tic and tie, make the workpapers look good, and don't be
too concerned with the results. A clean opinion is going to be issued no matter what you
find.”
Finally, Bill made a decision. He would not sign off on the inventory account regard- less of
the conseguences. He did not know whether the inventory account balance was materially
accurate, and he was not going to write a memo indicating otherwise. Moments later, Bill
walked into the client office being used by Sam Hakes and closed the door behind him.
“What's up?" Sam asked as he flipped through a workpaper file.
“Sam, Fve decided that | can't sign off on the inventory account,” Bill blurted out.
“What?” was Sam's stunned, one-word reply.
Bill stalled for a few moments to bolster his courage as he fidgeted with his tie. “Well... like I
said, 'm not signing off on the inventory account."
“Why?” By this point, a disturbing crimson shade had already engulfed Sam's ears and was
creeping slowly across his face.
“Sam... Ijust don't think I can sign off. I mean, I'm just not sure whether the inven- tory
number is right.”
“You're ... just not sure?” After a brief pause, Sam continued, this time pronounc- ing each
of his words with a deliberate and sarcastic tone. “You mean to tell me that you spent
almost 1,000 hours on that account, and you're just not sure whether the general ledger
number is right?”
“Well... yeah. Ya know, itsjust tough to...to reach a conclusion, ya know, on an account that
large.”
Sam leaned back in his chair and cleared his throat before speaking. “Mr. DeBurger, I want
you to go back into that room of yours and close the door. Then you sit down at that table
and write a nice, neat, very precise and to-the-point inventory memo. And hear this: Im not
telling you what to include in that memo. But you're going to write that memo, and you're
going to have it on my desk in two hours. Understood?” Sam's face was entirely crimson as
he completed his short speech.
“Uh, okay,” Bill replied.
Bill returned to the small conference room that had served as his work area for the past two
months. He sat in his chair and stared at the pictures of his two-year-old twins, Lesley and
Kelly, which he had taped to the wall above the phone. After a few minutes, he picked up
his pencil, leaned forward, and began outlining the inventory memo.
Questions
1. What conclusion do you believe Bill DeBurger reached in his inventory memo? Put
yourself in his position. What conclusion would you have expressed in the inventory
memo? Why?

2. Would you have dealt with your uncertainty regarding the inventory account
differently than Bill did? For example, would you have used a different approach to
raise the subject with Sam Hakes?

3. Evaluate Sam Hakes' response to Bill's statement that he was unable to sign off on the
inventory account. In your view, did Sam deal with the situation appropriately? Was
Sam's approach “professional”? Explain.

4. Is it appropriate for relatively inexperienced auditors to be assigned the primary

responsibility for such critical accounts as Marcelle Stores' inventory? Explain.

Terjemahan :

Bill DeBurger, Akuntan Penanggung Jawab

"Bill, maukah kamu melakukan memo inventaris sore ini?"
“Ya, Sam, kalau ikut. Aku seharusnya menyelesaikannya jam lima, atau satu. ”
"Jadikan tiga ... atau lebih. Oke, Bub? "

Bill merespons dengan senyum dan anggukan. Dia memiliki hubungan yang baik dengan
Sam Hakes, mitra yang mengawasi audit Toko Marcelle.!

Bill DeBurger adalah seorang akuntan penanggung jawab yang memiliki 18 bulan
pengalaman dengan majikannya, sebuah perusahaan akuntansi besar nasional. Firma Bil
menggunakan judul "bertanggung jawab" untuk posisi pekerjaan antara akuntan staf dan
audit senior. Judul lain yang digunakan oleh perusahaan akuntansi untuk posisi ini termasuk
"staf lanjut" dan "semi-senior." Biasanya, firma Bill mempromosikan individu-individu untuk
bertanggung jawab setelah satu tahun. Pengalaman tambahan satu hingga dua tahun dan
keberhasilan penyelesaian ujian CPA biasanya diperlukan sebelum promosi ke audit senior.
Judul "penanggung jawab" adalah nama yang keliru, setidaknya dalam benak Bill. Tak satu
pun dari penanggung jawab yang dia tahu pernah ditempatkan sebagai penanggung jawab
audit, bahkan audit kecil. Berdasarkan pengalaman Bill, penanggung jawab adalah seseorang
senior atau manajer yang diharapkan untuk bekerja dengan sedikit atau tanpa pengawasan.
"Ini program audit untuk hutang. Pergi menghabiskan lima minggu ke depan menyelesaikan
12 langkah program ... dan jangan ganggu saya," tampaknya menjadi sikap yang berlaku
dalam membuat penugasan kerja menjadi penanggung jawab.

Ketika kembali ke buku catatan hukum di depannya, Bill memaksakan dirinya untuk
memikirkan inventaris Marcelle Stores — semua $ 50 juta dari itu. Tugas Bil adalah untuk
meringkas dalam memo dua halaman 900 jam kerja yang dia, dua akuntan staf, dan lima
auditor internal telah lakukan selama dua bulan terakhir. Tidak termasuk dalam 900 jam
adalah waktu yang dihabiskan untuk delapan pengamatan inventaris yang dilakukan oleh
kantor lain dari perusahaan Bill.

Marcelle Stores adalah rantai regional dari 112 toko khusus yang menampilkan berbagai
macam produk untuk dekorator interior do-it-yourself. Tahun fiskal terakhir perusahaan
merupakan tahun yang sulit. Ekonomi yang buruk, meningkatnya persaingan, dan harga
pemasok yang lebih tinggi telah memangkas laba Marcelle selama 12 bulan terakhir. Tahun
sebelumnya, perusahaan telah membukukan laba sedikit di bawah $ 8 juta: untuk tahun yang
baru saja selesai, laba bersih pra-audit perusahaan melayang di $ 500.000 anemia.

Inventaris adalah titik fokus dari setiap audit atas laporan keuangan Marcelle. Tahun ini,
persediaan sangat penting. Setiap pernyataan berlebihan material yang ditemukan dalam akun
inventaris akan mengubah tahun yang kurang menguntungkan bagi Marcelle menjadi tahun
kekacauan di mana perusahaan membukukan kerugian pertama kalinya.

Menghadapi Bill di atas meja kecil yang berfungsi sebagai meja daruratnya adalah dua
tumpukan kertas kerja, masing-masing setinggi dua kaki. Kertas kerja tersebut merangkum
hasil dari uji harga yang ekstensif, prosedur pengamatan inventaris, tes cutoff akhir tahun,
analisis dari cadangan untuk persediaan usang, dan berbagai prosedur audit lainnya. Tugas
Bill adalah mengasimilasi semua bukti audit ini menjadi kesimpulan tentang inventaris
Marcelle.
Bill menyadari bahwa Sam Hakes mengharapkan kesimpulan untuk memasukkan frase
tangkapan kunci “disajikan secara adil, dalam semua hal yang material, sesuai dengan prinsip
akuntansi yang diterima secara umum.”
Ketika Bill mencoba untuk menguraikan memo inventaris, ia secara bertahap mengakui pada
dirinya sendiri bahwa ia tidak tahu apakah nilai dolar persediaan Marcelle secara material
akurat. Kertas kerja yang meringkas kesalahan individual yang ditemukan dalam akun
inventaris mencerminkan pernyataan berlebihan hanya $ 72.000. Jumlah itu tidak material
bahkan dalam kaitannya dengan laba bersih Marcelle yang luar biasa kecil. Namun, Bill
menyadari bahwa angka $ 72.000 itu sedikit lebih baik daripada perkiraan.

Tunjangan klien untuk persediaan barang usang khususnya Bill bermasalah. Dia telah
mendengar desas-desus bahwa Marcelle bermaksud untuk menghentikan 2 dari 14
departemen penjualan di tokonya. Jika itu benar, persediaan di departemen-departemen
tersebut harus dijual dengan diskon besar. Nilai dolar kolektif dari inventaris kedua
departemen tersebut mendekati $ 6 juta, sedangkan tunjangan klien untuk persediaan usang
memiliki saldo akhir tahun hanya $ 225.000. Sebelumnya dalam audit, Bill bertanya kepada
Sam tentang penutupan kedua departemen yang dikabarkan. Pasangan yang biasanya santai
itu menjawab dengan singkat, "Jangan khawatir."
Bill selalu menerima tugas pekerjaannya dengan serius dan ingin melakukan pekerjaan
profesional dalam menyelesaikannya. Dia percaya bahwa audit independen memiliki peran
yang sangat penting dalam ekonomi pasar bebas. Bill sering jengkel karena tidak semua
rekannya sependapat dengan pandangan itu. Beberapa rekan kerjanya tampaknya memiliki
sikap "baru saja menyelesaikan pekerjaan." pendapat akan dikeluarkan tidak peduli apa yang
Anda temukan.

Akhirnya, Bill membuat keputusan. Dia tidak akan keluar dari akun inventaris tanpa
memperhatikan kesepakatan. Dia tidak tahu apakah saldo akun persediaan secara material
akurat, dan dia tidak akan menulis memo yang menunjukkan sebaliknya. Beberapa saat
kemudian, Bill berjalan ke kantor klien yang digunakan oleh Sam Hakes dan menutup pintu
di belakangnya.
"Ada apa?" Sam bertanya ketika dia membuka-buka file kertas kerja.
"Sam, Fve memutuskan itu | tidak bisa keluar dari akun inventaris, "kata Bill tanpa sadar.
"Apa?" Adalah jawaban Sam yang tertegun, satu kata.
Bill terhenti selama beberapa saat untuk meningkatkan keberaniannya saat ia gelisah dengan
dasinya. "Yah ... seperti yang aku katakan, aku tidak keluar dari akun inventaris.

"Kenapa?" Pada titik ini, warna merah tua yang mengganggu telah menyelimuti telinga Sam
dan perlahan-lahan merayap di wajahnya.
"Sam ... Kurasa aku tidak bisa keluar. Maksudku, aku tidak yakin apakah angka penemuan itu
benar. ”
"Kau ... tidak yakin?" Setelah diam sejenak, Sam melanjutkan, kali ini mengucapkan setiap
kata dengan nada yang disengaja dan sarkastik. "Maksud Anda, memberi tahu saya bahwa
Anda menghabiskan hampir 1.000 jam untuk akun itu, dan Anda tidak yakin apakah nomor
buku besar itu benar?"
"Yah begitulah. Ya tahu, ini cukup sulit untuk ... mencapai kesimpulan, ya tahu, pada akun
sebesar itu. ”
Sam bersandar di kursinya dan berdeham sebelum berbicara. "Bapak. DeBurger, saya ingin
Anda kembali ke kamar Anda dan menutup pintu. Kemudian Anda duduk di meja itu dan
menulis memo inventaris yang bagus, rapi, sangat tepat dan to-the-point. Dan dengarkan ini:
Saya tidak memberi tahu Anda apa yang harus dimasukkan dalam memo itu. Tetapi Anda
akan menulis memo itu, dan Anda akan menyimpannya di meja saya dalam dua jam.
Mengerti? ”Wajah Sam sepenuhnya merah padam saat dia menyelesaikan pidato singkatnya.
"Eh, baiklah," jawab Bill.
Bill kembali ke ruang konferensi kecil yang telah berfungsi sebagai area kerjanya selama dua
bulan terakhir. Dia duduk di kursinya dan menatap foto-foto saudara kembarnya yang berusia
dua tahun, Lesley dan Kelly, yang ditempelkannya ke dinding di atas telepon. Setelah
beberapa menit, dia mengambil pensilnya, mencondongkan tubuh ke depan, dan mulai
menguraikan memo inventaris.