Contemp Issues Auditing ACC-512-MAOL1 Case Studies  Respond to the required questions on the last page (about 250 words total), double-spaced, APA format (source citations and reference insertions)...

Contempt Issues Auditing
ACC-512-MAOL1
Table of Contents
Case assignment 1: Case 3.5- Qwest: Understanding the Client’s Business and Industry from Thibodeau Audit & Accounting (CUSTOM)    3
Case assignment 2: Case 4.2 Waste Management: General Computing Controls from Thibodeau Audit & Accounting (CUSTOM)    5
Case assignment 3- 1.2- WorldCom: The Revenue Recognition Principle from Thibodeau Audit & Accounting (CUSTOM)    7
Case assignment 4: Case 5.1 The Fund of Funds: Valuation of Investments from Thibodeau Audit & Accounting (CUSTOM)    8
References:    10
Case assignment 1: Case 3.5- Qwest: Understanding the Client’s Business and Industry from Thibodeau Audit & Accounting
Q1. The three conditions likely to be presented when fraud occurs:
The three conditions, which are involved in the triangle that is named as fraud triangle, are mentioned below:
1. Opportunity: The situations, which enable specific, misstate to happen.
2. Attitude/ Rationalization: the structure concerning mind, which determines misstate.
3. Incentive/ Pressure: A cause for misstating
Fig: Three conditions of fraud triangle
I considered the first condition that is mentioned here as opportunity as the most prevalent condition of the fraud triangle. The reason behind defining it most relevant condition of the fraud conditions is through the creation of the opportunity of several things in several circumstances is supporting any organization to increase their growth level.
Q2.Three specific factors are mentioned below that might cause me for elevating inherent risk during conduction of audit in Qwest:
1. Trade concerning connection within Qwest: Qwest remains perceived as the most grounded organization for structure a system that is made through the optical fiber so as to assemble the quickest speed of the co
espondence of the data, which organized the web's spine and backing for giving an indispensable segment concerning the trade of electronic (Veerankutty, Ramayah and Ali, 2018).
2. In the wake of wrapping up various 18,500 miles of the national system through an optical fiber in the time of 1999, the association fixed 4,300 miles of the course in the nations named as Mexico and Canada and the association is yet building rings of optical fiber in the district of Europe.
3. Trade concerning development within Qwest: Administration of development of the association named as Qwest is skill inside building a home very dependent on the shopper's home advancement remaking generally prerequisites of development that is general.
Q3. Yes, the inherent risks those are observed in Qwest are influencing the extent, timing, moreover nature of the task of audit at Qwest.
Q4. The areas of risks those are related with the revenue system of Qwest are mentioned below:
1. Cost of product
2. Hazards of operation
3. Protection of information
4. Diffusion
5. Propaganda
6. Marketing
7. Churn of consumers
8. Hazard related with the
and
9. Popularity
10. Hazard of concentration
11. Financial Hazard
12. Hazard of Exchange Rate
13. Ba
iers in Business
14. Hazards of Policies
15. Up gradation of the Outcome
16. Rivalry
17. Occasional Hazard
18. Hazard during gathering Revenue
Case assignment 2: Case 4.2 Waste Management: General Computing Controls from Thibodeau Audit & Accounting
Q1. Difference between information technology general control and an automated application control: A general computing through information of technology has been utilized for supporting the whole circumstances of computing in order to an industry. Such as, many industries need the access of password for logging in the circumstances of process of computing. General computing process through assistance of IT that is standing for information technology additionally involves the management among the:
· Improvement in order to...