Risk and liability factors in audit

Assignment Help Auditing
Reference no: EM1354854

What are the risks and liability factors in an audit? What are the implications to the auditor? What are the implications to the organization? How can the auditor mitigate these risks and liability factors?

Reference no: EM1354854

Questions Cloud

What is the tension in the cable : The boom in the crane is free to pivot about point P and is supported by the cable that joins halfway along its 18 m length. the cable passes over a pulley and is anchored at the back of crane. the boom has a mass of 1700 kg, distributed evenly an..
Organizational focus and goals - : What is the organization's current focus and What are the organization's overarching goals
Find out the real rate of interest earned by albert in each : Find out the real rate of interest earned by Albert in each of the three years and his total real return over the three-year period. Assume that interest earnings are reinvested each year and themselves earn interest.
Behavioral or social learning theorists : Using behavioral/social learning theorists (Skinner, Bandura, Rotter), a psychoanalyst told me I needed 3 years therapy to explore Oral/Anal fixation.
Risk and liability factors in audit : What are the risks and liability factors in an audit? What are the implications to the auditor? What are the implications to the organization? How can the auditor mitigate these risks and liability factors?
Illustrate what was the real interest rate you paid : Imagine that you borrow $5,000 for one year and at the end of the year you repay the $5,000 plus $600 of interest. If the inflation rate was 4%, illustrate what was the real interest rate you paid.
What will be the frequency of vibrations : A thin, uniformly charged spherical shell has a potential of 720 V on its surface. Outside sphere, at a radial distance of 29.0 cm from this surface, the potential is 434 V.
Managerial accounting for organizational performance : Evaluate the long-term growth and performance of the company based on the balanced scorecard.
Make income statement under variable & traditional costing : The E-Corporation manufactures trendy, high-quality moderately valued watches that it sells on the Internet. As the corporation's senior financial analyst, you are asked to analyze the overall profitability fo the current year.

Reviews

Write a Review

Auditing Questions & Answers

  Fictitious revenue

How can fictitious revenue be created through the use of false sales to shell companies? Discuss the method and result of committing this fraud.

  Evaluating inquiry and oral evidence

(Audit evidence) In an audit of financial statements, an auditor must judge the validity of the audit evidence obtained.

  Control system conditions

What are several conditions that may lead to fraud? To what type of fraud may these conditions lead? Explain some risks to the revenue and collection cycle that are the result of improper revenue collection.

  Evaluation of the internal accounting control system

An auditor evaluation and study of the internal accounting control system

  Tyco financial scandal

Discuss how internal control problems may have contributed to the failure of Tyco International. Describe these problems and their cause. What would you have done differently, if you had been in charge (be specific)?

  Evaluate an annual report of a publicly held corporation

Evaluate an annual report of a publicly held corporation of your selection on the internet (not the General Electric annual report).

  Attestation engagement reports

A practitioner cannot accept an engagement unless he believes the subject matter to be capable of reasonably consistent evaluation against suitable, available criteria. What levels of assurance should be given in attestation engagement reports?

  Determine the information contained in internal audit report

Determine the information contained in internal audit report

  Accounting controls-corporate fraud

Given the increased emphasis on corporate fraud, should auditors be required to look aggressively for fraud factors like collusion, circumvention and management override? Why or why not?

  Interanl audit and internal control system

While not commonly discussed in the realm of risk management, the internal control system of an internal audit is a valuable tool for the risk manager.

  Responsibilities for internal control in organization

In brief describe the responsibilities each of the following groups of people has regarding internal control: Management, the board of directors, internal auditors, others in the organization.

  Ways of external auditor

Perhaps the issue of independence in internal audit departments goes back to, as you mentioned before, the morality of the internal audit staff. The internal audit department I worked for took the issue of independence seriously. It was important ..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd