Concept explainers
a.
Introduction:When any entity or firm or company does the changes in its financial statements illegally and manipulates in order to hide the actual profit or loss, it is known as fraud.It breaks the trust of the shareholders of the company and it is also punishable too.
The nature of the two frauds in company W and company P.
b.
Introduction: When any entity or firm or company does the changes in its financial statements illegally and manipulates in order to hide the actual profit or loss, it is known as fraud. It breaks the trust of the shareholders of the company and it is also punishable too.
The motivations or reasons behind the fraud in company W and company P.
c.
Introduction: When any entity or firm or company does the changes in its financial statements illegally and manipulates in order to hide the actual profit or loss, it is known as fraud. It breaks the trust of the shareholders of the company and it is also punishable too.
The way management detected such fraud in company W and company P.

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Chapter 11 Solutions
ACP AUDITING - RISK BASED APPROACH
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