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Corporate Governance (NOT STRAIGHT FORWARD GOV CONCERNS: What further…
Corporate Governance
NOT STRAIGHT FORWARD GOV CONCERNS: What further considerations and actions would you take/ something dodgy is happening in the scenario that doesn't look 100% ethical
Considerations: why you doing something (1-7) Actions= Doing something(4,5,7) SO NB WATCH THE SCOPE OF WHATEVER THE QUESTION IS
- Get evidence and documentation to support the RI and consult with legal expert and recalculate what should be in AFS
- If there is an increased risk of fraud then what implications does this have on my audit SIGNIFICANT RISK (impact on the audit)
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- Apply the IR definition and then say the actions to report it
- What procedures can I perform (audit the issue)
- What are the risks arising from this
- What is wrong with the event (what made it illegal)
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- Explain the event that would give rise to the concern
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CPC
Structure
- Address the threat, how to eliminate, reduce the threat or do you have to reject the engagement
- Evaluate the significance of the threat
- Identify and explain the threat
- Identify the fundamental principle and explain how it is as risk
- What is the specific issue that gave rise to the concern
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