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State whether Inherent Risk have increased or decreased

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(i) Gamma Ltd is a large supermarket chain with outlets in all major cities in the country. In August 2019 Gamma Ltd contracted out its payroll data processing in each city to an independent computer service provider.

(ii) Delta Ltd is a long established firm which has been operating a hotel for over 10 years. During this time, it has adopted a conservative business strategy that has seen it produce adequate, though slightly unimpressive, results. A new CEO was appointed to run the firm from September 2019. He has already released his plans for renovating the hotel, despite not officially serving as CEO yet. You have also heard him discuss the implementation of a new marketing strategy to improve occupancy rates.

Required: For each situation (i) to (ii) above.

(a) State whether Inherent Risk, Control Risk or Detection Risk have increased or decreased.

(b) Provide an explanation for your answer in (a).

Reference no: EM132569522

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