Explain management and the auditor’s responsibilities regarding the financial statements and internal controls over financial reporting.

A Forensic Accounting Case: A Data Analytic Mindset

Explain management and the auditor’s responsibilities regarding the financial statements and internal controls over financial reporting.

What is the purpose of management or financial statement assertions?

You are a forensic accountant assisting auditors to identify inappropriate schemes that took place at Crisp-Drinks. Please identify the scheme and the financial statement assertions that were violated as a result.

Using your audit and forensic accounting knowledge and for each scheme (or assertion that was violated), identify one or two audit procedure(s) that would have effectively uncovered the scheme or caught the resulting misstatement.