The Whonka Chocolate Company: Corporate governance and controls over financial reporting

Robert G. Bromley and Steven A. Harrast

Journal of Accounting Education, 2011, vol. 29, issue 4, 295-314

Abstract: Whonka Candy Company (Whonka) is a case study dealing with internal control and corporate governance. The company has grown rapidly over the last few years and achieved a large share of the wholesale chocolate market. The growth has caused many changes to corporate operations and financial reporting. Your responsibility as a new member of Whonka’s board of directors is to evaluate the company’s current system of control. Use the knowledge you have obtained regarding the Sarbanes–Oxley (SOX) Act (2002) (Sarbanes-Oxley Act of 2002. 2002, July 30. Available at http://www.sec.gov/about/laws/soa2002.pdf) and the COSO Internal Control–Integrated Framework (1992 and 2012) (Committee of Sponsoring Organizations of the Tre. (1994). INTERNAL CONTROL – INTEGRATED FRAMEWORK. Jersey City, NJ: AICPA. Retrieved on June 12, 2012 from http://www.snai.edu/cn/service/library/book/0-framework-final.pdf) and best business practices of accounting system design and operation to develop a report to the board. This case will challenge your ability to think critically and practice your written communication skills.

Keywords: Accounting systems; Corporate governance; COSO; Critical thinking; SOX; Internal controls; Educational case (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:eee:joaced:v:29:y:2011:i:4:p:295-314

DOI: 10.1016/j.jaccedu.2012.06.007

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