a)
Introduction:Brainstorming is a technique to create group activity through which efforts are made to find out a conclusion for a specified problem by collectingthe ideas given by its members.
To describe: The situation when brainstorming occur
b)
Introduction:Brainstorming is a technique to create group activity through which efforts are made to find out a conclusion for a specified problem by collecting the ideas given by its members.
To describe: The persons attending the brainstorming session and the leader of the session
c)
Introduction:Brainstorming is a technique to create group activity through which efforts are made to find out a conclusion for a specified problem by collecting the ideas given by its members.
To describe: Other purposes of brainstorming other than creative ideas for assessing audit risk.
d)
Introduction:Brainstorming is a technique to create group activity through which efforts are made to find out a conclusion for a specified problem by collecting the ideas given by its members.
To describe: The guidelines which help the team for maximizing the effectiveness of the brainstorming session.
e)
Introduction:Brainstorming is a technique to create group activity through which efforts are made to find out a conclusion for a specified problem by collecting the ideas given by its members.
To describe: The various steps involved of a brainstorming session.
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Chapter 7 Solutions
Auditing: A Risk Based-Approach (MindTap Course List)
- For an audit, what should be considered when understanding a client and analyzing the risks?arrow_forwardIn order to eliminate ethical fraud concerns, what procedures or policies should be implemented?arrow_forwardWhat factors should the audit team take into consideration when discussing fraud threats during the planning phase?arrow_forward
- Give specific examples of fraud risk factors - incentives, opportunities, and attitudes/rationalization.arrow_forwardWhat rules or policies should be developed to avoid ethical fraud issues?arrow_forwardInformation Risk Analyst (IT Controls Audit) will help the organization assess risk controls and their effectiveness for current and future design improvements. To be successful in this career path YOU must be familiar with the concept Information Risk. a. Explain the term ‘information risk’ in your own words. b. Discuss three (3) causes of information risk. c. Discuss the three (3) main ways to reduce information risk. d. Differentiate between ‘assurance services’ and ‘non-assurance services,’ giving examples of each.arrow_forward
- What are the objectives of audit risk assessment, and why is it important in assessing the likelihood that fraud may occur? Explain why risk assessment performed during audit planning sets the tone for the entire audit engagement.arrow_forwardAuditor's goal is to better assist their clients by learning about a client's internal control.arrow_forwardAuditors seek to understand a client's internal control in order to better serve their clients.arrow_forward
- Explain the role of the Risk Manager in fraud detection Explain the role of the Risk Manager in fraud detectionarrow_forwardanswer quicklyarrow_forwardWhich of the following is driving the need for assurance maps?a. Risk managers.Incorrect. b. Board members. c. Internal auditors. d. Compliance practitioners.arrow_forward
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