SondraStark_Unit5_Auditing410_02

SondraStark_Unit5_Auditing410_02 - 956 ....

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9-56 There are several fraud risk factors involved here.  The first thing that stands out is that Kent  states “We don’t have any specific duties regarding fraud.  If we find it, we’ll deal with it then.”  That is not the appropriate attitude to be taken when preparing for an audit.  One should go in  expecting the worst and looking for any and everything.  Also the fact that Green and Mint have  been good friends for quite some time could lead to a conflict of interest.  It appears as though  Smith is more concerned with what is going to happen to SCS in the future and can they keep  up to what they are promising and forecasting.  Kent, on the other hand just wants to go in, get it  done and over with.  Smith is aware there are big layoffs coming, yet there is an expected 30% 
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