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Thread: Mistress market sucks during the financial crisis!
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[quote=MARRIE,359818] There seems to be such a guru hanging around like a loyal steward taking care of everything 24/7 ..no judgement on this methodology here, but in this case as Jimmy described, it sort of employee collusion - a group of nasty wolf behavior, which is a significant risk factor that could lead to fraudulent behavior and damaging biz performance. If I someday committed an auditing engagement with corp like that, such enviroment factors would weigh a lot in my assessment of inherent risks,control risks and risk of materiality of misstatement...Assurance engagement require professional skeptism and judgement which is unavoidable.[/quote]
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