This topic contains a solution. Click here to go to the answer

Author Question: Dracule Industries is a privately-owned business that sells medical product and devices to ... (Read 57 times)

swande

  • Full Member
  • ***
  • Posts: 152

Question 1

The risk of fraud should be assessed for the entire audit as well as by cycle, account, and objective.
◦ true
◦ false

Question 2

Dracule Industries is a privately-owned business that sells medical product and devices to hospitals, clinics and the public. Certain changes have occurred in Dracule Industries during the year undergoing the audit. Harker needs to evaluate the effect these changes have on audit risk. Audit risk at the financial statement level is influenced by the risk of material misstatement; which include factors related to management, the industry and the entity or a combination thereof. For each of the following changes that have occurred during the year under audit identify the appropriate audit response for the list of responses. Each response can be used once, more than once or not at all.

Client changes:
1. An internal audit department has been established.
2. A new inventory control system has been installed that reduces the access of unauthorized parties.
3. Inexperienced accounting personnel were hired in the accounting department.
4. Excess cash was used to purchase complex derivatives.
5. Controls over the sales credit approval process have laxed.
6. New government regulations now apply to Dracule Industries.
7. Management has become overly aggressive in reaching target goals.
8. An expert was hired to help determine the value of the ore content in ending materials inventory.
Possible effect on the audit:
a. increases the acceptable level of detection risk
b. decreases the acceptable level of detection risk
c. change has no effect on the acceptable level of detection risk


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by swande on Aug 21, 2022

Jaclyn92G6

  • Full Member
  • ***
  • Posts: 176
    • save money with coupon codes
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 45% of students answer this correctly

Look for coupons that come in delivers while in the email, in mags, or with in the inserts with all the Sunday forms. www.baccarat35.com



swande

  • Member
  • Posts: 152
Reply 2 on: Aug 21, 2022
Wow, this really help


samiel-sayed

  • Member
  • Posts: 337
Reply 3 on: Yesterday
Gracias!

 

Did you know?

Tobacco depletes the body of vitamins A, C, and E, which can result in any of the following: dry hair, dry skin, dry eyes, poor growth, night blindness, abscesses, insomnia, fatigue, reproductive system problems, sinusitis, pneumonia, frequent respiratory problems, skin disorders, weight loss, rickets, osteomalacia, nervousness, muscle spasms, leg cramps, extremity numbness, bone malformations, decayed teeth, difficulty in walking, irritability, restlessness, profuse sweating, increased uric acid (gout), joint damage, damaged red blood cells, destruction of nerves, infertility, miscarriage, and many types of cancer.

Did you know?

The oldest recorded age was 122. Madame Jeanne Calment was born in France in 1875 and died in 1997. She was a vegetarian and loved olive oil, port wine, and chocolate.

Did you know?

Patients who have undergone chemotherapy for the treatment of cancer often complain of a lack of mental focus; memory loss; and a general diminution in abilities such as multitasking, attention span, and general mental agility.

Did you know?

In 2006, a generic antinausea drug named ondansetron was approved. It is used to stop nausea and vomiting associated with surgery, chemotherapy, and radiation therapy.

Did you know?

People who have myopia, or nearsightedness, are not able to see objects at a distance but only up close. It occurs when the cornea is either curved too steeply, the eye is too long, or both. This condition is progressive and worsens with time. More than 100 million people in the United States are nearsighted, but only 20% of those are born with the condition. Diet, eye exercise, drug therapy, and corrective lenses can all help manage nearsightedness.

For a complete list of videos, visit our video library