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Chapter 11 - Discussion Audit team Management Others Risk...

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SAS No. 99 Most of this chapter is based upon the guidance in SAS No. 99. We had a separate presentation on SAS No. 99 a few weeks ago. You are responsible for familiarity with the concepts in that presentation. We will review many of those concepts in the context of Chapter 11.
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Overview Conditions for fraud Assessing the risk of fraud Corporate governance Responding to the risk Earnings management/Revenue Recognition and Other Specific Risk Areas Responsibilities
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Conditions for Fraud Fraud Triangle Incentive/Pressure Opportunity Attitude/rationalization Fraudulent Financial Reporting Misappropriation of Assets
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Assessing the Risk of Fraud Skepticism Sources of information
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Unformatted text preview: Discussion Audit team Management Others Risk factors Analytical Procedures Others Corporate Governance Related concepts covered previously Attitude/Rationalization Control Environment Code of Conduct Responding to the Risk of Fraud Overall Conduct Staffing Nature, Timing, and Extent of Audit Procedures Adjusting Entries Estimates Unusual tx Updating risk Earnings Management, Revenue Recognition, and Other Specific Risk Areas Earnings management—a slippery slope Revenue Recognition Inventory Misappropriation Responsibilities Investigate? Interviewing Communication...
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