3.51 - accounts to misstatement 9 Increase UEL is material...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
3.51 When the risk goes down, it is better. Profitable company that has assured revenues coming into the future, so less inherent risk. If it decreases risk then it doesn’t mean it’s a fraud risk, but if it went up then it is. 1.) Decrease in risk because of some factors 2.) Increase. 3.) Increase. Fraud risk factor? Yes. 4.) Increase. Turnover is a red flag that the dept might have problems. 5.) Decrease 6.) No effect 7.) Decrease. 8.) Increase. Changing accounting practices increases IR (the susceptibility of the
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: accounts to misstatement). 9.) Increase. UEL is material. Fraud risk. 10.) Decrease. if the litigation was disclosed in prior years, either the potential loss was prob but could not be reasonably estimated or it was reasonably possible. amount of potential 11.) Increase 12.) Increase 13.) No effect. 14.) Increase 15.) Increase. Pressure to put your best foot forward Module C We follow GAAS...
View Full Document

This note was uploaded on 11/08/2011 for the course ACCT 333 taught by Professor Zink during the Spring '11 term at Fordham.

Ask a homework question - tutors are online