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Part 4—Problem 11-34 (Due Week 5, 20 points)
In this part, you will have an opportunity to participate in brainstorming related to fraud as part of the audit planning stage. The purpose of this part is to identify risks and to address those risks in the audit.
You will begin by using the fraud triangle and information from Parts 1 through 3 to identify incentives and pressures, opportunities, and attitudes and rationalizations. Then you will identify risks and accounts that will be affected. You will then look at revenue and identify at least two ways that fraud can happen and how you would find it in the audit.
You will finish up by looking back to Parts 1 and 2 and identifying fraud risks related to all areas covered there.