I. Assignment Question – What are you required to do…?
• Use the 1) information provided on the Patisserie Valeria Case, 2) the details in the
supporting videos and links, 3) module’s material and 4) your understanding and
critical analysis of the key readings discussed in both the module’s lectures and
seminars to find answers to the questions below:
1) In his interview, Chris Boxall; one of Patisserie Valerie’s stock owners stated that;
“Reality – at Patisserie Valerie – looked really good. I do not think cash can lie, but accounting can!”
In light of your understanding of the Patisserie Valerie Case and the module’s material:
How do you think accounting representations might have enabled this fraudulent misstatement
incident to take place? In your discussion, provide a critique of the claim that accounting mirrors
and can objectively represent economic reality.
(25 Marks)
2
I. Assignment Question – What are you required to do…?
2) Based on your understanding of the term ‘Accountability’:
• Discuss how accounting institutionalises the concept of accountability in
business organisations – Draw on the case of Patisserie Valerie to illustrate
your discussion.
• In your discussion, develop a commentary on how different forms of
accountability can affect relationships between actors in an organisation.
(25 Marks)
3
I. Assignment Question – What are you required to
do…?
3) Different parties were discussed in relation to the Patisserie Valerie case; the
company chairman; Luke Johnson, the company’s chief financial officer and Grant
Thornton as the company’s auditor.
• Discuss whether it is easy to identify the party/parties who should be held
accountable for the Company’s misstatement. Also, explain the reasons why
you were or were not able to identify an accountable party or parties.
(25 Marks)
4
I. Assignment Question – What are you required to do…?
4) Answer Both Parts of this Question:
A) Critically discuss how managers’ extreme focus on ‘efficiency’ had affected the
development of accounting control systems over the time.
(10 Marks)
B) How can we as accounting practitioners and researchers contribute to a better
understanding and implementation of the concept of ‘Control’?
(15 Marks)
5
II – Quick Guidance for Preparing your Essay
• Ensure you develop a strong understanding of what happened in the
Patisserie Valerie case.
• Make sure you are able to point out the accounting-related issues in the
case.
– The assignment asks you to use the concepts of representation, accountability
and control. Your mark will be based on how well you do this.