What sort of ongoing training should take place

Assignment Help Accounting Basics

Reference no: EM13123577

1. What are some potential reasons why we might decide to decline an audit engagement?

2. What are some elements or factors that might increase our risk of fraud on a particular engagement?

3. What are some of the most common costs incurred associated with an audit engagement? Which costs could be better controlled? Why?

4. Let's examine the most common causes of having inadequate professional judgment. What sort of education and/or experience should the auditors have? What sort of ongoing training should take place?

5.Who generally performs this assessment? How much (if any) can the external auditors rely on this work?

Reference no: EM13123577

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