Name three of the risks and give examples of each

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Reference no: EM131187158

SAS 99 requires auditors to identify risks that need further examination in order to determine the full extent of a possible fraud.

(a) Name three of these risks and give examples of each.

(b) If after conducting a thorough audit, the auditor believes there is a likelihood of misstatements that could be material to a company's financial statements, what should the auditor do? Name the four items.

Arthur Levitt stated that the SEC was seeing five accounting "gimmicks" of "accounting hocus-pocus" that were proving problematic. Name three of these gimmicks and explain in detail.

Reference no: EM131187158

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