Ocean Manufacturing Inc

Identify two facts from the case that you found in particular interesting (this can be anything- it doesnt have to be directly accounting-related ). The initiative situation that I found interesting is that Most of the ratios of Ocean Manufacturing be lower than the industry. So as tenders should figure out the reason hindquarters this. The second situation is that the auditor turnover high. In twelve days they had three auditors.It is a major problem as why oceanic manufacturing hanged it auditors rapidly at such short period of time. As an auditor I should look into the matter more closely. 2. If applicable, what Professional Standards were violated in this case? Cite either CASE standards or Rules of Professional Conduct. You whitethorn want to research the standards in your text, Handbook, or online. N/A 3. come to you atomic number 18 working as an auditor in public accounting. pee one lesson tattoo could learn from this case. Ocean Manufacturing executives are very agg ressive.If they are taken as a client I would be careful. They tried to manipulate their yearned accruals to meet requirement of Creditors. As they are planning to broaden PIP they susceptibility want to do it again. As an auditor I learnt that I should take account of past behaviors and future intension when I am auditing a client. 4. As we all know, hindsight is 20/20. For cases where the client connected fraud, are there any red flags the auditor overlooked that might have allowed them to uncover the fraud sooner?