Question: Refer to Exhibit and to the Auditing in Practice features
Refer to Exhibit and to the Auditing in Practice features “Channel Stuffing at ArthroCare—The Importance of Professional Skepticism” and “The Importance of Professional Skepticism in Auditing Revenue at Tvia.” What methods have been used to fraudulently inflate revenue? How can auditors use professional skepticism to help identify these fraud schemes?
Answer to relevant QuestionsWhat are a control risk assessment questionnaire and a controls matrix? How are these documents used by the auditor?Describe the differences in the planned audit approaches for Clients A and B and the reasons for such differences.a. What are typical substantive procedures in the revenue cycle, and how are these procedures related to management assertions?b. For the following procedures (numbered 1 through 6), indicate the assertion that is being ...Refer to the Professional Judgment in Context feature "How to Account for Virtual Sales at Zynga." Answer the following questions:a. What are the inherent risks associated with the revenue transactions at Zynga?b. What are ...Select one of the following PCAOB Disciplinary Orders (available at www.pcaob.org).1. ORDER INSTITUTING DISCIPLINARY PROCEEDINGS, MAKING FINDINGS, AND IMPOSING SANCTIONS In the Matter of Traci Jo Anderson and Traci Jo ...
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