Attached. Please let me know if you have any questions or need revisions.riskby Aa AaSubmission date: 14-Nov-2020 03:55AM (UTC-0500)Submission ID: 1445842737File name: Risk_Assessment.edited.docx (17.96K)Word count: 485Character count: 2771riskORIGINALITY REPORT0%SIMILARITY INDEX0%0%0%INTERNET SOURCESPUBLICATIONSSTUDENT PAPERSPRIMARY SOURCESExclude quotesOnExclude bibliographyOnExclude matchesOffRunning had: RISKS1Risk AssessmentNameInstitutionDateRISKS2Question 1Inherent Risk Assessment- Prepaid expenseFirst of all, an inherent risk assessment is performed by an auditor. An inherent risk, per se, isprimarily assessed by an auditor’s judgment and knowledge concerning the industry, the assetsowned by a firm, and the transactions occurring in a given organization (Florea & Florea,2012). Normally, the auditor assesses every audit either high, medium, or low in inherent risk.In this regard, a prepaid expense, an inherent risk, is often termed as low as it does not entailany contentious accounting issues or complex transactions. As a common other asset, a prepaidexpense often includes prepaid rent, insurance, and interest.Inherent Risk Assessment – Intangible AssetsUsually, intangible assets are those that generate economic benefits for over a year; however,they lack physical subsistence. There are five distinct categories of intangible assets: contract,customer, artistic, technology, and marketing (Florea & Florea, 2012). Therefore, for anintangible asset, the inherent risk is often assessed as high due to the lack of physical existenceof assets. The rules are inherently complex, and the accounting difficult i…
15 Million Students Helped!
Sign up to view the full answer
Our customer is the center of what we do and thus we offer 100% original essays..
By ordering our essays, you are guaranteed the best quality through our qualified experts.All your information and everything that you do on our website is kept completely confidential.
Academicwritingcompany.com always strives to give you the best of its services. As a custom essay writing service, we are 100% sure of our services. That is why we ensure that our guarantee of money-back stands, alwaysRead more
The paper that you order at academicwritingcompany.com is 100% original. We ensure that regardless of the position you are, be it with urgent deadlines or hard essays, we give you a paper that is free of plagiarism. We even check our orders with the most advanced anti-plagiarism software in the industry.Read more
The Academicwritingcompany.com thrives on excellence and thus we help ensure the Customer’s total satisfaction with the completed Order.To do so, we provide a Free Revision policy as a courtesy service. To receive free revision the Academic writing Company requires that the you provide the request within Fifteen (14) days since the completion date and within a period of thirty (30) days for dissertations and research papers.Read more
With Academicwritingcompan.com, your privacy is the most important aspect. First, the academic writing company will never resell your personal information, which include credit cards, to any third party. Not even your lecturer on institution will know that you bought an essay from our academic writing company.Read more
The academic writing company writers know that following essay instructions is the most important part of academic writing. The expert writers will, therefore, work extra hard to ensure that they cooperate with all the requirements without fail. We also count on you to help us provide a better academic paper.Read more