ACC 403 Auditing I Audit Risk and Fraud, accounting homework help

“Audit Risk and Fraud” Please respond to the following:

  • Create a scenario in which a company conceals financial fraud from
    the auditing firm through the use of information technology, and suggest
    at least one (1) way in which an auditing firm can minimize its
    exposure to this risk.
  • According to the text, planning an audit involves establishing the
    overall audit strategy for the engagement and developing an audit plan
    in an attempt to reduce audit risk to an acceptable level. Select a
    balance sheet account or income statement account, and discuss the type
    of audit procedure that would produce the most reliable evidence for
    that account balance. Defend your position.