McKesson & Robbins: a milestone in auditing

W. T. Baxter

Accounting History Review, 1999, vol. 9, issue 2, 157-174

Abstract: When accepting the audit of a US company in 1924, Price Waterhouse agreed not to make a physical examination of inventories or to circularize debtors. Later, both of these assets proved to be overstated. Dramatic circumstances of the case gave it much publicity, and ensured that auditors now make some check of inventories and debtors.

Keywords: Audit History; Asset Verification; Us Wholesale Drug Trade (search for similar items in EconPapers)
Date: 1999
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Citations: View citations in EconPapers (2)

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DOI: 10.1080/095852099330287

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