Audit Planning and Activities
Write a three to four (3-4) page paper in which you:
- Evaluate the extent of the fraud in question, and suggest three to five (3-5) reasons why the independent auditors failed to detect the fraudulent activity.
- Determine the level of responsibility of the auditors to detect within the scope of the audit activities.
- Suggest the main audit procedures that the firm should have performed to detect the fraud. Indicate your rationale behind your suggested audit procedures.