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Audit Risk and Fraud Please respond to the following: Create a scenario in which a company conceals financial fraud from the auditing firm through the

Audit Risk and Fraud Please respond to the following:

Create a scenario in which a company conceals financial fraud from the auditing firm through the use of information technology, and suggest at least one (1) way in which an auditing firm can minimize its exposure to this risk.

Accordingtothetext,planninganauditinvolvesestablishingtheoverallauditstrategyfortheengagementanddevelopinganauditplaninanattempttoreduceauditrisktoanacceptablelevel.Selectabalancesheetaccountorincomestatementaccount,anddiscussthetypeofauditprocedurethatwouldproducethemostreliableevidenceforthataccountbalance.Defendyourposition.

Can you please answer the above questions?

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