ACC555 Assignment 2 Unit 4

v  through .12

v  Discussions among personnel. This section will discuss the need of auditors exercising professional skepticism in consideration of the possibility that a material misstatement will be present.

v  Obtaining information that is needed to identify risks of fraud due to material mismanagement. This has 4 sections that require the auditors to gather all necessary risks for possible material mismanagement.

v  Identify the risks that could result in a fraud material mismanagement. This section discusses where the auditor needs to gather to identify the risks that will result in fraud misstatement

v  Assessing the identified risks after taking into account an evaluation of entity’s program and controls. This section discusses requires the auditor to evaluate programs and controls that will address the companies risk of material mismanagement.
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