Connect Access Card for Auditing & Assurance Services
7th Edition
ISBN: 9781259731587
Author: Timothy J Louwers, Allen Blay, David Sinason Associate Professor, Jerry R Strawser, Jay C. Thibodeau Associate Professor
Publisher: McGraw-Hill Education
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Question
Chapter C4, Problem 1DQ
To determine
Indicate the red flags that Firm EY should have been aware of while auditing Company HS.
Expert Solution & Answer
Explanation of Solution
The red flags that Firm EY was aware were quarter profits, and the power exerted by Person RS, the chief executive officer of Company HS, but should have been aware of high turnover and fast growth in net income, and the mails received from whistle bowlers, who raised concerns.
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Chapter C4 Solutions
Connect Access Card for Auditing & Assurance Services
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