(1) A junior auditor said: Comparing to other accounts, such as property, plant and equipment and...
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(1) A junior auditor said: "Comparing to other accounts, such as property, plant and equipment and accounts receivable, cash account contains less inherent risk. This is because there is no significant valuation issue with cash." Evaluate the statement and justify your answer. (2) Use the fraud triangle to explain why revenue recognition is generally considered as having high fraud risk. (1) A junior auditor said: "Comparing to other accounts, such as property, plant and equipment and accounts receivable, cash account contains less inherent risk. This is because there is no significant valuation issue with cash." Evaluate the statement and justify your answer. (2) Use the fraud triangle to explain why revenue recognition is generally considered as having high fraud risk.
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Accooding to the data Ansi A Sunor auditoo soid compaing t... View the full answer
Related Book For
Financial Accounting and Reporting
ISBN: 978-0273744443
14th Edition
Authors: Barry Elliott, Jamie Elliott
Posted Date:
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