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(2). What audit procedures and/or tasks would you have planned to carry out in response to the inherent risks identified by you in 1 above?

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(2). What audit procedures and/or tasks would you have planned to carry out in
response to the inherent risks identified by you in 1 above?
Answered Same Day Dec 22, 2021

Solution

David answered on Dec 22 2021
122 Votes
SOLUTION:
Auditor is a watch dog but not a blood hound. Basic responsibility of an auditor is to express an
opinion on the existence of proper mechanisms of corporate governance and control in the
organization.
1) The audit procedures in response to inherent risks identified to be employed by the auditor in
the cu
ent scenario should involve all substantive and compliance procedures because the
company is suffering from poor...
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