Page 14 - Patisserie Valerie Teaching Note

Case Issues

Case issues range from questioning the role and

responsibilities of management, auditors, accountants to

inevitability of fraud

Issue 1

Whose responsibility is it to detect fraud?

Is it the auditors who audit the accounts or management

who have responsibility for running the company?

Issue 2

To what extent is auditing an oligopolistic based industry

where the big six firms overlap in their activities?

Issue 3

Corporate Governance and the internal audit