How does understanding the business’s strategy help the auditor to assess business risk?
Answer to relevant QuestionsHow do business processes relate to strategy and business risk?What are the auditor’s communication responsibilities when he or she suspects or finds evidence of fraud? How do his or her responsibilities differ if the fraud involves low-level employees or high-level managers? Why does the auditor consider management’s controls of business processes? Distinguish among the control environment, general controls, and application controls.What is earnings quality, and what are some indicators of high-quality earnings?
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