@article{buchholz2014lavelle,
  title = {Lavelle Nursing Home: Family Run and Owned*},
  author = {Alexander K. Buchholz},
  year = 2014,
  url = {https://ibimapublishing.com/articles/JAARP/2014/338813/},
  journal = {Journal of Accounting and Auditing: Research & Practice},
  volume = (2014),
  pages = 8,
  doi = 10.5171/2014.338813,
  abstract = {While concluding the 2012 audit for Lavelle Nursing Home (“Lavelle”), the audit engagement team became aware of a recently signed severance agreement with one of the former shareholders, who was also one of the five cousins who established the business.  The agreement provided for the possibility of payments ranging from $0 - $500,000 for a period of ten years.  Based on additional auditing procedures performed by the engagement team, it was discovered that the controller had not established any provision on the general ledger for this agreement.  The controller also indicated that she was not going to record any provision.  The audit engagement team brainstormed as to various alternatives to be taken and also needed to consult with the quality control department. },
  keywords = {Related party transactions, audit opinions, scope limitation, audit evidence},
  note = Article ID: 338813
}