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McKesson & Robbins, Musica, Auditing, Fraud, Receivables Fraud, Inventory Fraud
Many cases have impacted how todays independent auditor does the job of expressing an opinion on financial statements. Students taking auditing classes memorize the names and dates of the some of these cases, but rarely learn the facts of the cases or appreciate why the cases were so critical to advancing modern auditing standards. McKesson & Robbins is one of the earliest of these cases. Spanning more than a decade, two continents, two generations and at least four surnames, this case clearly shows students that fraud is not limited to todays corporations and that there is, indeed, little that is new under the sun.