audit

Answer all question to these discussions please no plagiarism. this is not a paper just answer questions asked.

Create a scenario in which a company conceals financial fraud from the auditing firm through the use of information technology, and suggest at least one (1) way in which an auditing firm can minimize its exposure to this risk.

According to the text, planning an audit involves establishing the overall audit strategy for the engagement and developing an audit plan in an attempt to reduce audit risk to an acceptable level. Select a balance sheet account or income statement account, and discuss the type of audit procedure that would produce the most reliable evidence for that account balance. Defend your position.

Imagine that you have been hired to audit the sales and collections of a medium to large merchandising company. Suggest at least two (2) ways that management could manipulate earnings, and make specific recommendations for the internal control procedure to prevent or detect the transaction. Justify your response.

•Discuss the advantages and disadvantages of at least two (2) sampling methods. Make a recommendation for the best method to sample accounts receivables. Support your position