Consider the following publicly traded firms. Choose one or more of these firms to write a paragraph...

Question

Consider the following publicly traded firms. Choose one or more of these firms to write a paragraph about to address the following question:

1. Provide a statement explaining what auditors should consider when evaluating whether or not to accept a client.

2. Choose one or more of the following firms and write a paragraph about the potential risks involved with client acceptance. You can also consider the audit risk model and how it might apply to this firm.

CNTY	Century Casinos, Inc.
RCL	Royal Caribbean Cruises Ltd.
WWE	World Wrestling Entertainment, Inc.
NCLH	Norwegian Cruise Line Holdings Ltd.
WFC	Wells Fargo & Co.
FB	Facebook
GOOG	Google

Preeta · Accepted Answer

Here are generally three kinds of audit risks which are control risk, inherent risk and detection risk (Griffiths, 2016). The control risks arise when there is inadequate internal control in an organization. Detection risks are the sole responsibility of the auditor and it arises when the auditor fails to detect a material misstatement in the financial statement of the organization. The inherent risks are those which generally exist in an organization and cannot be really controlled. Now,

Consider the following publicly traded firms. Choose one or more of these firms to write a paragraph about to address the following question: 1. Provide a statement explaining what auditors should...

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