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Author Question: When analyzing accounts for fraud risk, (Read 34 times)

Drewster127

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on: Aug 21, 2022

Question 1

Two of the most useful warning signals that can indicate that revenue fraud is occurring are
◦ analytical procedures and documentary discrepancies.
◦ analytical procedures and misappropriation of assets.
◦ documentary discrepancies and vague responses to inquiries.
◦ missing audit evidence and vague responses to inquiries.

Question 2

When analyzing accounts for fraud risk,
◦ companies will generally attempt to overstate accounts payable and net income.
◦ the inventory account is generally not susceptible to fraud since the auditor must verify the existence of the inventory.
◦ payroll is rarely a significant risk for fraudulent financial reporting.
◦ fixed assets are rarely stolen because of their large size.
Auditing and Assurance Services ¦ Arens, Elder, Beasley, Hogan ¦ 17th Edition
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Marked as best answer by Drewster127 on Aug 21, 2022

ahardin89

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Reply #1 on: Aug 21, 2022
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Drewster127

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Reply 2 on: Aug 21, 2022
:D TYSM

ashely1112

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Reply 3 on: Yesterday
Wow, this really help

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