Revenue Cycle Case Study

In this Revenue Cycle Case Study you are to answer and/or elaborate on the following topics based on accredited research and findings that you have gathered:

1 Explain the concept of accounting cycles and their impact on audit approaches, and identify the accounts in the revenue cycle. Explain how revenue cycle accounts are interlinked.

2. Discuss the importance of proper revenue recognition and the characteristics of revenue related fraud.

3. Assess and describe inherent and control risk regarding revenue cycle accounts.

4. What audit procedures would be relevant to test the effectiveness of controls in the revenue cycle?

5. Link the auditors control risk assessment to the development of substantive tests of accounts in the revenue cycle.

6. Identify and describe fraud indicators in the revenue cycle and related audit procedures.