Zenon, Inc., A Fortune 500 company, has been experiencing some slow performance results the last few years. Industry analysis have been negative reports and the company's stock price has been declining. In the course of the audit of Zenon, you find that some accounting entries may have been altered and this could be material to the financial statements. You know the company history and you suspect management fraud. As the auditor what should concern you about the Zennon audit engagement? What steps should you take in response to the accounting entries and your concern about management fraud?

Answer rating: 100% (QA)

ANS the ideal approach to be followed by Auditors for identification of fraud and assessment of its Impact on making an opinion on the financial statements audited Specifically how SA 315 SA 330 can b... View the full answer