4 Jamie is an auditor. While preparing to audit his client, FoodCourt, he finds a weakness in the company's internal control that might suggest that the company has a higher than normal risk, and revenue may have been recorded in the wrong period. Given this weakness, what information should be communicated to management? 5 What is the relationship between the internal control system and risk management with corporate governance? How can the internal control system enhance a company s corporate governance?

4 Jamie is an auditor. While preparing to audit his client, FoodCourt, he finds a weakness in the company's internal control that might suggest that the company has a higher than normal risk, and revenue may have been recorded in the wrong period. Given this weakness, what information should be communicated to management? 5 What is the relationship between the internal control system and risk management with corporate governance? How can the internal control system enhance a company s corporate governance?

Contemporary Auditing

11th Edition

ISBN:9781337650380

Author:KNAPP

Publisher:KNAPP

Chapter1: Comprehensive Cases

Section1.7: Navistar International Corporation

Problem 2Q

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