Question: Create a table, and for each industry discussed provide the following information: (a) List the primary business activity. (b) Identify the most significant risk about

Create a table, and for each industry discussed provide the following information:
(a) List the primary business activity.
(b) Identify the most significant risk about which the auditor is concerned.
(c) What accounts and related management assertions are related to the risk?
(d) What could happen to cause the account or disclosure to be materially misstated related to the assertions you identified?
(e) What control could management implement to prevent or detect the event that would cause the material misstatement?

Step by Step Solution

3.39 Rating (174 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

Although there is no single most significant risk that can be identified for these industries each o... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Document Format (1 attachment)

Word file Icon

395-B-A-A-A-N (3027).docx

120 KBs Word File

Students Have Also Explored These Related Auditing Questions!