Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

TH During audit planning an auditor obtained the information found below. Read the mourements Select Yos or No in the first column to show whether

image text in transcribed
image text in transcribed
image text in transcribed
TH During audit planning an auditor obtained the information found below. Read the mourements Select Yos or No in the first column to show whether each item indicates an increase risk for fraud. Use the second column to identify which fraud condition (incentives pressures, opportuni all input fields. Select "NA" in the Fraud Condition" column if the information does not indicate a fraud risk) a. Fraud risk Information b. Fraud Condition Significant operations are located and conducted across International borders in 1 jurisdictions where differing business environments and cultures exist. There are recurring attempts by management to justify marginal or inappropriate 2 accounting on the basis of materiality. The company's controller works very hard, including evenings an 3. has not taken a vacation in two years Requirements The company's board of directors includes a majority of directors Independent of management Assets and revenues are based on significant estimates that inve 5. judgments and uncertainties that are hard to corroborate Indicate whether the information indicates an increased risk for fraud The company is marginally able to meet exchange listing and deb b. 6 requirements If the information indicates an increased risk of fraud, indicate which fraud The company's financial performance is threatened by a high deg condition (incentives/pressures, opportunities, or attitudes/rationalization) is Indicated 7 and market saturation Now accounting pronouncements have resulted in explanatory pa consistency for the company and other firms in the industry, Print Done The company has experienced low turnover in management and function 4 Choose from any drop-down it and then continue to the next Quotion MacBook Air o Duringud ning seda obtained the information found below Read the remote Gelect you or No in the incolumn to show whether achter indicatorsk forband Use the second country which ad condition interpreteranos indicated Complete put on. Sed in the Fraud Condo column the information does not indiante a fratrisk) a Fred Information b. Fraud Condition Significant operations are located and conducted across international borders in 1. jurisdictions where differing business environment and cultures exist. There are recurring attempts by management to justity marginal or inappropriate counting on the basis of materiality The company's controller works very hard, including evenings and weekends, and hoter 3 hes met avocation in two years Opportunities The company's board of directors includes a majority of directors who are Addestination Independent of management NA Assets and revenues are based on significant estimates that involve tive 3 dgments and uncertainties that are hard to corroborate The company la marginally able to meet exchange rating and debt covenant requirements The company's Financial performance is threatened by a high degree of competition and market saturation Nrw counting pronouncements have resulted in explanatory paragraphe for consistency for the company and other firms in the industry The company has experienced low turnover in management and its internal Audit function During mag auditor obtained the information found below Read the remote Select you or No in the first column to show whether each dicas norase i forrud. Use the second column to identity which traud condition incentives pressures, opportunities, or asudes/ratination la indicated. (Completa i input folds Seed in the Fraud Condition information does not indicated) Freud risk bFraud Condition Information Significant operations are located and conducted across International borders in 1. jurisdictions where differing business environments and cultures exist There are recurring attempts by management to justily marginal or inappropriate 2 wcounting on the basis of materiality The company's controller works very hard, including evenings and weekends, and 3 has not taken a vacation in two years The company's board of directors includes a majority of directors who are 4 Independent of management Assets and we are based on significant estimates that involve subjective Segments and uncertainties that are hard to corroborste The company is marginally able to meet exchangeling and debt covenant B. requirante The company's financial performance is threatened by a high degree of competition 7 and market ration New accounting pronouncements have resulted in explanatory page for consigy for the company and other firms in the industry The company has experienced low turnover in management and its internal aud function Choose from any drop down it and to continue to the next question TH During audit planning an auditor obtained the information found below. Read the mourements Select Yos or No in the first column to show whether each item indicates an increase risk for fraud. Use the second column to identify which fraud condition (incentives pressures, opportuni all input fields. Select "NA" in the Fraud Condition" column if the information does not indicate a fraud risk) a. Fraud risk Information b. Fraud Condition Significant operations are located and conducted across International borders in 1 jurisdictions where differing business environments and cultures exist. There are recurring attempts by management to justify marginal or inappropriate 2 accounting on the basis of materiality. The company's controller works very hard, including evenings an 3. has not taken a vacation in two years Requirements The company's board of directors includes a majority of directors Independent of management Assets and revenues are based on significant estimates that inve 5. judgments and uncertainties that are hard to corroborate Indicate whether the information indicates an increased risk for fraud The company is marginally able to meet exchange listing and deb b. 6 requirements If the information indicates an increased risk of fraud, indicate which fraud The company's financial performance is threatened by a high deg condition (incentives/pressures, opportunities, or attitudes/rationalization) is Indicated 7 and market saturation Now accounting pronouncements have resulted in explanatory pa consistency for the company and other firms in the industry, Print Done The company has experienced low turnover in management and function 4 Choose from any drop-down it and then continue to the next Quotion MacBook Air o Duringud ning seda obtained the information found below Read the remote Gelect you or No in the incolumn to show whether achter indicatorsk forband Use the second country which ad condition interpreteranos indicated Complete put on. Sed in the Fraud Condo column the information does not indiante a fratrisk) a Fred Information b. Fraud Condition Significant operations are located and conducted across international borders in 1. jurisdictions where differing business environment and cultures exist. There are recurring attempts by management to justity marginal or inappropriate counting on the basis of materiality The company's controller works very hard, including evenings and weekends, and hoter 3 hes met avocation in two years Opportunities The company's board of directors includes a majority of directors who are Addestination Independent of management NA Assets and revenues are based on significant estimates that involve tive 3 dgments and uncertainties that are hard to corroborate The company la marginally able to meet exchange rating and debt covenant requirements The company's Financial performance is threatened by a high degree of competition and market saturation Nrw counting pronouncements have resulted in explanatory paragraphe for consistency for the company and other firms in the industry The company has experienced low turnover in management and its internal Audit function During mag auditor obtained the information found below Read the remote Select you or No in the first column to show whether each dicas norase i forrud. Use the second column to identity which traud condition incentives pressures, opportunities, or asudes/ratination la indicated. (Completa i input folds Seed in the Fraud Condition information does not indicated) Freud risk bFraud Condition Information Significant operations are located and conducted across International borders in 1. jurisdictions where differing business environments and cultures exist There are recurring attempts by management to justily marginal or inappropriate 2 wcounting on the basis of materiality The company's controller works very hard, including evenings and weekends, and 3 has not taken a vacation in two years The company's board of directors includes a majority of directors who are 4 Independent of management Assets and we are based on significant estimates that involve subjective Segments and uncertainties that are hard to corroborste The company is marginally able to meet exchangeling and debt covenant B. requirante The company's financial performance is threatened by a high degree of competition 7 and market ration New accounting pronouncements have resulted in explanatory page for consigy for the company and other firms in the industry The company has experienced low turnover in management and its internal aud function Choose from any drop down it and to continue to the next

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing & Assurance Services A Systematic Approach

Authors: William F Messier Jr, Steven M Glover, Douglas F Prawitt

11th Edition

1260687635, 1259969444, 9781259969447, 978-1260687637

More Books

Students also viewed these Accounting questions

Question

Explain how labour relations practices differ around the world.

Answered: 1 week ago