Question Description
Read the Hamilton case and You are provided related information from KPMG as well. Answer questions 1 and 2 and 3
1. Based on your understanding of fraud risk assessment and the case information, identify at least three specific fraudrisk factors related to Hamilton Company.2. If you were responsible for planning the audit of Hamilton Company, how would the fraud risk factors identified inquestion #1 have influenced the nature, timing, and extent of your audit work?3. Asthe auditor, how would you expect to address the fraud risks you haveidentified? How does the fraud risk impact on audit risk and how do you expectthis risk to impact on your audit and its planning? You are not expected toresearch this issue or consider information in your text after Chapter 5. Youmay find your basic knowledge of accounting helpful, as well as the applicationof good business practices you have learned.
Read the Hamilton case and You are provided related information from KPMG as well. Answer questions 1 and 2 and 31. Based on your understanding of fraud risk assessment and the case information, identify at least three specific fraud risk factors related to Hamilton Company. 2. If you were responsible for planning the audit of Hamilton Company, how would the fraud risk factors identified in question #1 have influenced the nature, timing, and extent of your audit work? 3. As the auditor, how would you expect to address the fraud risks you have identified? How does the fraud risk impact on audit risk and how do you expect this risk to impact on your audit and its planning? You are not expected to research this issue or consider information in your text after Chapter 5. You may find your basic knowledge of accounting helpful, as well as the application of good business practices you have learned.
