Review the discussion of the Parmalat fraud described in the chapter. a. Describe the audit procedures that
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a. Describe the audit procedures that could have discovered the misstatements and explain why they could have been effective.
b. Why might a company set up a subsidiary to hide fraudulent transactions? Was it easier for fraud to occur and not be detected because this subsidiary was audited by a different auditor than the ones who signed the audit report? Explain your answer.
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Auditing and Assurance Services An Applied Approach
ISBN: 978-0073404004
1st edition
Authors: Iris Stuart
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