Question
In 2019, GEC had a net income of $754,000,000. Equipment Leasing was 16 percent of GECs total assets. The stolen computers were valued at $637,000.
In 2019, GEC had a net income of $754,000,000. Equipment Leasing was 16 percent of GECs total assets. The stolen computers were valued at $637,000. Outline giving reason whether the amount of this fraud will have a material impact on the financial statements? What other audit implications can this fraud have? How would the auditor test for something like this?
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Ethical Obligations And Decision Making In Accounting Text And Cases
Authors: Steven Mintz
6th Edition
1264135947, 9781264135943
