What ratios would best indicate problems with potential inventory obsolescence or collectability of receivables? How are those ratios calculated?
Brainstorming is a group discussion designed to encourage auditors to creatively assess client risks, particularly those relevant to fraud.
a. When does brainstorming typically occur?
b. Who attends the brainstorming session? Who leads it?
c. Besides encouraging auditors to creatively assess client risks, what other purpose does brainstorming serve?
d. What are the guidelines that should be followed during a brain- storming session to maximize effectiveness?
e. What are the typical steps in the brainstorming process?