The case involves TMH, a fictional company whose critical strategic issues mirror those affecting many of today’s businesses that sell or otherwise transfer significant amounts of financial assets to other entities – frequently in off-balance sheet transactions.

 

“The case will challenge students to apply the technical aspects of accounting and also to apply their judgment in a realistic situation that closely mirrors what they will face when they enter the profession,” said Henry Keizer, Vice Chair of Audit at KPMG.  “In creating this capstone course, it was our goal to help bring timely and relevant accounting topics to the classroom.”

 

The materials include an instructor’s guide along with five separate modules covering such topics as risk assessment, securitization and fair value measurement. The materials have been designed to simulate complex situations that highlight the indispensable role of professional judgment in auditors’ investigatory and reporting responsibilities. 

 

The TMH case involves a multi-modular approach in which successive modules build on the learning achieved in earlier modules as the company’s situation unfolds and the students’ understanding deepens.

Among the issues students must consider as they work through the case requirements are:

The TMH case was developed by Robert H. Ashton, the L. Palmer Fox Professor of Accounting at Duke University, and Timothy B. Bell, a former director at KPMG and Coggin Distinguished Professor of Accounting at the University of North Florida. The case materials were made possible through the support of KPMG LLP and the KPMG Foundation.  They were adapted from the first two rounds of KPMG’s National Audit Case Competition (KNACC), held in 2007 and 2008, and are available at no cost through KPMG’s Faculty Portal (www.kpmgfacultyportal.com).