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Urgent Medical Device Inc
Revenue and Account receivables
Fraud Assessment Report

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Title of the Paper Goes Here
Student Name
Keiser University
Instructor
Course
Date

Abstract

Urgent Medical Device Inc is a health trading company that operates its business through distributers(customers) all over the world. The company has been hit by significant inconsistencies in their financial statements in the recent financial years. This paper presents possible risk factors and inherent assessments that will help company management in their planning especially on revenue and receivables cycle. The research questions guiding this paper are whether financial misstatement associated with revenue recognition reporting fraud significant? The aim of constructing this question was to assess the need of application of SAS and specifically SAS 99 Consideration of Fraud in a Financial Statement Audit. External indicators, internal fraud indicators and misapplication of SAS were identified as high-risk factors that would affect revenue recognition and account receivable cycle of Urgent company.

Introduction
Revenue recognition as seen as a simple abstraction but in reality, it is a zigzag as evidenced by many guidelines outlined in GAAP. Many scholars and researchers have found that misapplication of ISAS on revenue recognition and account receivable cycle has led to increased claims on financial fraud reporting. This truncates the effect of financial misstatement to violation of both accounts and audit assertions: Accuracy, completeness, cut-off, valuation, existence/ occurrence, among others. This paper will assess fraud related to revenue recognition and account receivables cycle of Urgent Medical Device Inc. The company and its management need to lay down proper controls and procedures to manage their sales for them to increase productivity. The researcher will walk through Urgent financial 2017 data as presented and …Running head: TITLE GOES HERE 1

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Title of the Paper Goes Here
Student Name
Keiser University
Instructor
Course
Date

Introduction Leave in the headings and fraud risk table below and type your ideas under each of the headings provided. Be sure to follow proper APA format for citations and sources. Also, remove any notes in this template.

Abstract

The Abstract is an overview of the paper, written after completion. Other researchers use the Abstract to determine if your work will be useful to them. The Abstract should include the background, hypothesis or research question, methodology for data collection and analysis, the findings of your research, and conclusions (about 100-150 words).
Be sure to page break since the abstract goes on its own page

Introduction

The Introduction should lead readers into the topic and its importance. Introductions typically include the overall topic of the paper, the specific focus of the paper within the larger topic, the main points in the paper, the kind of paper (study, argument, critique, discussion), and the purpose.
Writing Tip:
The length of the introduction should be in proportion to the length of the paper. Also ask yourself, “With my purpose and my audience, how do I engage my readers best?” In the introduction, you set the tone of the piece, establish your voice, and demonstrate your writing style; be authentic to your purpose and your audience.
(from the University of Wollongong, NSW, Australia): http://unilearning.uow.edu.au/report/4biii1.html

Written for Keiser University GROWS by Amy C. Flagg

Requirement 1-Fraud Risk

Using professional auditing standards briefly discuss the auditor’s responsibility to identify fraud risk in revenue recognition related to this case. Be sure to state the standard you are referring to in your discussion.
Be sure …