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III. Short Essay. In only 4-5 sentences, briefly answer the following four questions: (4 questions, 5 points each). A. You are the audit partner
III. Short Essay. In only 4-5 sentences, briefly answer the following four questions: (4 questions, 5 points each). A. You are the audit partner in a mid-sized accounting firm. Consider the following tasks that will to be considered during the middle of an audit. -Train the audit managers in techniques of data analytics. - Contact the client's bank about a $10,000 transfer marked "miscellaneous" which was found just after the close of the fiscal year being audited. - Meet the other audit partners for a working lunch. - Consider continuing education courses for next year. Based on Stephen Covey's. "The 7 Habits of Highly Effective People." in which order would you prioritize these tasks? B. After learning about the Bangladesh Bank heist, name some of the internal control deficiencies that could have been corrected that would have prevented the heist? C. Distinguish between the following kinds of risks: inherent risks, control risk, and detection risk. D. Based on the Journal of Accountancy article upon which you based your Student Audit Selfie, what were the three most important concepts that you learned from the article?
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