Explain the reason behind the conclusion of identifying ‘the audit as posing much greater risk than normal’.

Question

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Answer 1

Question

Chapter MC, Problem 1.1Q

To determine

Explain the reason behind the conclusion of identifying ‘the audit as posing much greater risk than normal’.

Expert Solution & Answer

Explanation of Solution

Audit firm D, after several years of the determined examination has concluded that company A was exposed for committing fraud or misstatement. Audit firm D has reached to this conclusion by recognizing the following risk factors:

Company ‘A’ work with an ‘unpredictable industry’. It had countless elements to work with also it expanded very quickly.
Noteworthy obligations were conveyed by the organization confirming the obligation contracts by reaching to most of its ‘money related assets’.
Without paying its controls management of the organization gathered into as small gathering.
The organization had a tendency to forcefully change its book keeping principles to acknowledge the higher amount of hazards.
The organization had occupied large exchanges from its subsidiary that audit firm‘D’ wouldn’t be inspecting.

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Answer 2

Question

Chapter MC, Problem 1.1Q

To determine

Explain the reason behind the conclusion of identifying ‘the audit as posing much greater risk than normal’.

Expert Solution & Answer

Explanation of Solution

Audit firm D, after several years of the determined examination has concluded that company A was exposed for committing fraud or misstatement. Audit firm D has reached to this conclusion by recognizing the following risk factors:

Company ‘A’ work with an ‘unpredictable industry’. It had countless elements to work with also it expanded very quickly.
Noteworthy obligations were conveyed by the organization confirming the obligation contracts by reaching to most of its ‘money related assets’.
Without paying its controls management of the organization gathered into as small gathering.
The organization had a tendency to forcefully change its book keeping principles to acknowledge the higher amount of hazards.
The organization had occupied large exchanges from its subsidiary that audit firm‘D’ wouldn’t be inspecting.

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Answer 3

Question

Chapter MC, Problem 1.1Q

To determine

Explain the reason behind the conclusion of identifying ‘the audit as posing much greater risk than normal’.

Expert Solution & Answer

Explanation of Solution

Audit firm D, after several years of the determined examination has concluded that company A was exposed for committing fraud or misstatement. Audit firm D has reached to this conclusion by recognizing the following risk factors:

Company ‘A’ work with an ‘unpredictable industry’. It had countless elements to work with also it expanded very quickly.
Noteworthy obligations were conveyed by the organization confirming the obligation contracts by reaching to most of its ‘money related assets’.
Without paying its controls management of the organization gathered into as small gathering.
The organization had a tendency to forcefully change its book keeping principles to acknowledge the higher amount of hazards.
The organization had occupied large exchanges from its subsidiary that audit firm‘D’ wouldn’t be inspecting.

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Answer 4

Question

Chapter MC, Problem 1.1Q

To determine

Explain the reason behind the conclusion of identifying ‘the audit as posing much greater risk than normal’.

Expert Solution & Answer

Explanation of Solution

Audit firm D, after several years of the determined examination has concluded that company A was exposed for committing fraud or misstatement. Audit firm D has reached to this conclusion by recognizing the following risk factors:

Company ‘A’ work with an ‘unpredictable industry’. It had countless elements to work with also it expanded very quickly.
Noteworthy obligations were conveyed by the organization confirming the obligation contracts by reaching to most of its ‘money related assets’.
Without paying its controls management of the organization gathered into as small gathering.
The organization had a tendency to forcefully change its book keeping principles to acknowledge the higher amount of hazards.
The organization had occupied large exchanges from its subsidiary that audit firm‘D’ wouldn’t be inspecting.

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Answer 5

Chapter MC, Problem 1.1Q

To determine

Explain the reason behind the conclusion of identifying ‘the audit as posing much greater risk than normal’.

Expert Solution & Answer

Explanation of Solution

Audit firm D, after several years of the determined examination has concluded that company A was exposed for committing fraud or misstatement. Audit firm D has reached to this conclusion by recognizing the following risk factors:

Company ‘A’ work with an ‘unpredictable industry’. It had countless elements to work with also it expanded very quickly.
Noteworthy obligations were conveyed by the organization confirming the obligation contracts by reaching to most of its ‘money related assets’.
Without paying its controls management of the organization gathered into as small gathering.
The organization had a tendency to forcefully change its book keeping principles to acknowledge the higher amount of hazards.
The organization had occupied large exchanges from its subsidiary that audit firm‘D’ wouldn’t be inspecting.

Answer 6

Chapter MC, Problem 1.1Q

To determine

Explain the reason behind the conclusion of identifying ‘the audit as posing much greater risk than normal’.

Expert Solution & Answer

Explanation of Solution

Audit firm D, after several years of the determined examination has concluded that company A was exposed for committing fraud or misstatement. Audit firm D has reached to this conclusion by recognizing the following risk factors:

Company ‘A’ work with an ‘unpredictable industry’. It had countless elements to work with also it expanded very quickly.
Noteworthy obligations were conveyed by the organization confirming the obligation contracts by reaching to most of its ‘money related assets’.
Without paying its controls management of the organization gathered into as small gathering.
The organization had a tendency to forcefully change its book keeping principles to acknowledge the higher amount of hazards.
The organization had occupied large exchanges from its subsidiary that audit firm‘D’ wouldn’t be inspecting.

Answer 7

Chapter MC, Problem 1.1Q

To determine

Explain the reason behind the conclusion of identifying ‘the audit as posing much greater risk than normal’.

Answer 8

Expert Solution & Answer

Explanation of Solution

Audit firm D, after several years of the determined examination has concluded that company A was exposed for committing fraud or misstatement. Audit firm D has reached to this conclusion by recognizing the following risk factors:

Company ‘A’ work with an ‘unpredictable industry’. It had countless elements to work with also it expanded very quickly.
Noteworthy obligations were conveyed by the organization confirming the obligation contracts by reaching to most of its ‘money related assets’.
Without paying its controls management of the organization gathered into as small gathering.
The organization had a tendency to forcefully change its book keeping principles to acknowledge the higher amount of hazards.
The organization had occupied large exchanges from its subsidiary that audit firm‘D’ wouldn’t be inspecting.