Requlred Information Assessing Fraud Risk. Exercla G.64-G.69 reculre the use di the Ungent Medzel Device Inc. cose from KPMG Univeraity. Your professor will provide you with access to the UMD case from httas:/Wwolegmgunluerstycannectiancom G.64 Assessing Froud Risk. Azcording to the professionel ouditing stsndsrds, snsudt tesm should ordinerly presume thet revenue recognition is a firud riak. a. From the following lat, se ect froud risks thet are present bosed on your understanging of the cese. You mby se ect es many risks es spaty. 7 The eamoary azt adgreasive aales targeta far ita rew oredust line. 7. The esmpary has a hiatery ef effisulty sallesting asezunta reseivabla fiem euatemer. 7 The eampary oseratea in a highly eamsative induspy. 7 The eampa-y has a rew CEO who was hirsed dreaty tram a sembetisa: b. Which of the fol owing sccounts and sasertions would be considered higher risk based an the risks ident?ied in the cese. You may select as many accountz and assertons as apply. 7 Camoletene22 =f Ausesurta Payatil 7 Revenu= Cuta* 7 Oesunenes of Rzvenuz Exidenes of A isesun Reseivall= 7 Camoleteneme af Revenu= C. What specisl sual considerstions would you propose in response to the signlficant risks identified sbove. Ge ect es msny responses a you beleve are apprapriete. Inserease entent of asesunta reseivable sanfimatizna. Parfent inventary eauma mere aftan during the year. Inerease interim teati-g and reduse year =nd teating Perfent axtaraive azla eutzff 1=2t2. Requlred Information Assessing Fraud Risk. Exercla G.64-G.69 reculre the use di the Ungent Medzel Device Inc. cose from KPMG Univeraity. Your professor will provide you with access to the UMD case from httas:/Wwolegmgunluerstycannectiancom G.64 Assessing Froud Risk. Azcording to the professionel ouditing stsndsrds, snsudt tesm should ordinerly presume thet revenue recognition is a firud riak. a. From the following lat, se ect froud risks thet are present bosed on your understanging of the cese. You mby se ect es many risks es spaty. 7 The eamoary azt adgreasive aales targeta far ita rew oredust line. 7. The esmpary has a hiatery ef effisulty sallesting asezunta reseivabla fiem euatemer. 7 The eampary oseratea in a highly eamsative induspy. 7 The eampa-y has a rew CEO who was hirsed dreaty tram a sembetisa: b. Which of the fol owing sccounts and sasertions would be considered higher risk based an the risks ident?ied in the cese. You may select as many accountz and assertons as apply. 7 Camoletene22 =f Ausesurta Payatil 7 Revenu= Cuta* 7 Oesunenes of Rzvenuz Exidenes of A isesun Reseivall= 7 Camoleteneme af Revenu= C. What specisl sual considerstions would you propose in response to the signlficant risks identified sbove. Ge ect es msny responses a you beleve are apprapriete. Inserease entent of asesunta reseivable sanfimatizna. Parfent inventary eauma mere aftan during the year. Inerease interim teati-g and reduse year =nd teating Perfent axtaraive azla eutzff 1=2t2
