Auditing and Accounting Cases 4th Edition by Deborah Freier,Jay Thibodeau

Exercise 3

Consult Paragraph 33 and Paragraph B10 (in Appendix B) of PCAOB Auditing Standard No. 5. If you were conducting an internal control audit of WorldCom, comment about how WorldCom's acquisition strategy would impact the nature, timing, and extent of your audit work at WorldCom.