What is meant by concurrent audits

Reference no: EM132448899

Assignment Question(s):

Question 1. Choose an existing business. This could be a service business, merchandising business; or a manufacturing business. Try to describe the revenue cycle in details. Then, write a case (hypothetical) in which this organization face three types of the following threats and how the organization could resolve these dilemmas:

General Revenue Cycle Threats.

Sales Order Threats.

Shipping Threats.

Billing Threats.

Cash Collections Threats.

Question 2. What is meant by concurrent audits and how it could be achieved?

Question 3. In your own words, differentiate between COSO and COBIT in terms of their purpose and application. Why do organizations need to apply both of them not only one. (write 200 words).

Reference no: EM132448899

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