4 Jamie is an auditor. While preparing to audit his client, FoodCourt, he finds a weakness in the company's internal control that might suggest that the company has a higher than normal risk, and revenue may have been recorded in the wrong period. Given this weakness, what information should be communicated to management? What is the relationship between the internal with

Contemporary Auditing
11th Edition
ISBN:9781337650380
Author:KNAPP
Publisher:KNAPP
Chapter1: Comprehensive Cases
Section1.7: Navistar International Corporation
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4 Jamie is an auditor. While preparing to audit his client, FoodCourt, he finds a weakness
in the company's internal control that might suggest that the company has a higher
than normal risk, and revenue may have been recorded in the wrong period. Given this
weakness, what information should be communicated to management?
S What is the relationship between the internal control system and risk management
with corporate governance? How can the internal control system enhance a company's
corporate governance?
Transcribed Image Text:4 Jamie is an auditor. While preparing to audit his client, FoodCourt, he finds a weakness in the company's internal control that might suggest that the company has a higher than normal risk, and revenue may have been recorded in the wrong period. Given this weakness, what information should be communicated to management? S What is the relationship between the internal control system and risk management with corporate governance? How can the internal control system enhance a company's corporate governance?
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