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Vulnerabilities and trust built through working relationships

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According to Health Management Case: Please discuss question below.

Explore the vulnerabilities that may result because of trust built through working relationships. In the current environment, what situations create these vulnerabilities for auditors?

To answer question above please focus on the relationship between the former senior manager, who now works for the client, and the former subordinate who has now been promoted. Although the particular fact pattern of the case has now been eliminated by the "cooling off period" of SOX, many parallels still exist in the current audit environment.

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Solution Summary

The vulnerabilities that may result because of trust built through working relationship are determined. The situations which can create vulnerabilities for auditors are given. Response addresses the query posted in 496 words with APA References.

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Auditing is done to judge the accuracy of the financial statements of the organizations. In the following discussion, vulnerabilities of auditing, on account of trust build in the working environment, have been discussed along with stating the situations, which lead to the occurrence of such kind of risks.

Auditing is an essential requirement for any organization as it helps the company to assure that there are no discrepancies in the financial statements. Trust is built among the employees after working for a long time, and this leads to biases in the auditing process. There are certain kinds of vulnerabilities like the inherent risk, which is related to the misstatement in the ...

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Ashish Sharma, MBA (IP)
Education
  • MBA (IP), International Center for Internationa Business
  • BBA, University of Rajasthan
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