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T he Covid pandemic has made one thing absolutely clear: China is the workshop of the world. This has significant strategic and geopolitical implications. This asymmetry is intensifying. The Covid crisis, and the inability of the United States to produce even the simplest of medical goods, illustrated the feebleness of American manufacturing. Both are long-term trends, and likely connected. As the pandemic has made obvious, production is itself a critical activity. It is necessary for future American prosperity and geopolitical and military security. The reshoring debate is now over. The Case Of Phar Mor Inc.

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The Case Of Phar Mor Inc	854

Phar-Mor was operated as an American discounted drug and variety store opening its first doors in Youngstown, Ohio in The low priced drugs and all of the different locations of the stories. TeKare 1a. A company would want to hire a member of its external audit for a number of reasons.

The external auditor would have extensive knowledge of how the company works due to analyzing statements and performing many audit procedures and tests on the company and therefore would reduce time in order to become effective as an employee.

The company would know the former auditor personally and have. Beasley, Frank A.

Phar-Mor Case Study

Buckless, Steven M. Glover, Douglas F. Identify factors contributing to an environment conducive to accounting fraud. Understand what factors may inappropriately influence the client-auditor relationship and auditor independence Understand auditor legal liability issues related to suits brought. One example is a case such as Phar-Mor which fabricated their inventory Teh most of their retail stores in order to conceal a massive fraud by the leading executives.

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Or the Waste Management scandal which did things such as capitalizing items which should have. Phar-Mor Inc is a discount drugstore chain, it because associated with a Giant Eagle which was a source grocery chain along with the distribution company Tamco Distributors co.

This company would use Power Teh which is when the company buys the largest possible amount of product at a great price because they are buying so much oMr the product. Then the company will turn around and selling the product. The Phar-Mor Inc. The Phar-Mor company is located in about thirty-four states with at least 20, employees. However, in they had to file bankruptcy due to fraud one of the biggest cases before Enron. Phar-Mor Inc. He had others to help him cover up the loss, such. The Case of Phar-Mor Inc. Fraud will always be an issue but it has been more prevalence in the past before there were any specific guidelines for business entities and accountants to adhere and conform to.

It is The Case Of Phar Mor Inc that those with higher positions in a company could let the power get to them at times and can use that power for their personal benefits.

Phar-Mor O moving product quickly but profit margins were not significant enough to pay the bills. Below, we will use auditing standard AU The reason why senior management agreed to do this fraud is the belief in unique ability of their leader to fix everything later on. This case is known as one of the biggest accounting frauds in the corporate history of the U.

This paper will analyze. Home Page Research Phar-Mor.]