41960Audit Wrap-Up" Please respond to the following: 1.Create a scenario that demonstrates specific ways in which management could manipulate transactions impacting inventory values that the auditing team might not detect. Recommend key strategies that the auditor could implement in anticipation of such manipulation. Justify your response. 2.Discuss...
41923"Internal Controls and Sampling Strategy" Please respond to the following: Review the Chart in Figure 15-8, "Attributes Sampling Data Sheets: Tests of Hillsburg Hardware Co.'s Billing Function. Select 1 attribute tested and explain the results reported with comparison to the Planned Audit expectations; Sample Size, Number...
41920Testing Methods" Please respond to the following: 1.According to your textbook, to minimize the risk of material misstatement, auditors seek third- party verification of account balances by mailing customers their statements. Discuss the advantages of positive and negative confirmations, and ascertain whether or not email and...
41884Follow up question on order number 41708 1. What area of the five do you think was the weakest link? The point of collusion? What might the SEC do? 2.We know the SEC is conducting an investigation. These remain private until a case is filed, or a...
41867nternal Controls and Sampling Strategy" Please respond to the following: Imagine that you have been hired to audit the sales and collections of a medium-to-large merchandising company. Suggest at least two (2) ways that management could manipulate earnings, and make specific recommendations for the internal control...
41796Home work 1. Consider the following: You are opening a web based business to sell organic produce. Required: Explain at least 5 of the internal control issues you face and suggest a way to ensure each issue is addressed. DO NOT COPY ANYTHING FROM ANYWHERE. READ AND UNDERSTAND...
41766Audit Risk and Fraud" Please respond to the following: According to your textbook, planning an audit involves establishing the overall audit strategy for the engagement and developing an audit plan in an attempt to reduce audit risk to an acceptable level. Use the most recent balance...
41708Management and Internal Control" Please respond to the following: Research the recent accounting scandal at PPG, Pittsburg Paint Group. Discuss the fraud in terms of the COSCO Components of Internal Control and Underlying Principles. Identify the major components involved, a description of the fraudulent behavior, and...
41612Management and Internal Control" Please respond to the following: Create a scenario where external auditors determined that a company's internal controls were deficient, but such a deficiency might not mean that a material weakness existed. Ascertain the impact on the audit plan if additional deficiencies are...