Question:
1. a. Describe the types of calculations and comparisons commonly used in
analytical procedures
b. What premise underlies the use of analytical procedures in auditing?
c. Identify Four Sources of information the auditor may use in developing
Expectations.
2. Provide some of the evidence regarding the significance of fraud in the united
Stated
3. Define fraud and the two components of fraud that are relevant to the auditor's
Decisions about the risks of fraud in the financial statement audit.
4. a. what are the three element of the fraud triangle?
b. Develop an example of a high-risk situation related to misappropriation of
assets where all three elements of the fraud triangle are preset. In parts (b) and
(c) link your examples to specific risks at the financial statement level or the
assertion level.
5. Describe the risk assessment procedures used by auditors to identify risks of
material misstatements in the financial statements due to fraud.
6. Identify four objectives of the "brainstorming session" Perform by the audit team
in the risk assessment process