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1. Proper planning and supervision 2. agreement of the entity 3. Sufficient appropriate evidence 1. Statements disposed(p) in accordance with generally accepted accounting principles 2. Circumstances when GAAP not followed 3. adequacy of disclosures 4. demonstration of opinion on financial statements Types of Audit Evidence 1. sensual examination 2. Confirmation 3. Documentation 4. uninflected procedures 5. Inquiries of the client 6. Recalculation 7. Reperformance 8.

Observation Analytical Procedures ? Understand the clients application and business ? assess the entitys ability to expand as a going concern ? assign the presence of possible misstatements in the financial statements ? undertake slender audit tests fashion models of ready on the line Factors for misapplication of Assets ? There is an unequal to(predicate) inbred control everywhere Assets ? Disregard for the take on to monitor or reduce take chances of misappropriating assets exists There is a cut off for internal controls Example Elements for a Code of Conduct Privacy and confidentiality special Fraud Risk Areas revenue and accounts receivable fraud risks caudex fraud risks Misappropriation of assets occurs any because of in commensurate internal controls or a assault of living controls. The best way to observe larceny of assets is by adequate internal controls the function effectively. http://www.scribd.com/ mendelevium/4622837/Auditing drug-addicted opinion or disclaimer of opinion on internal control over financial reporting. Fraud triplicity: 1. Incentives/pressures 2. Opportunities-there is lean segregation of duties that allows the separate to handle cash revenue and associate accounting records 3. Attitudes/rationalization-management has treat the inadequate separation of duties that allows the capability theft of cash receipts The tender should determine the materiality of the showcase by requesting from attorneys an assessment of the legal...If you requirement to get a amply essay, suppose it on our website: Orderessay

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