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Tag: Risk of fraud.

Which action regarding fraud is an activity related to performance of risk assessment procedures?

Posted on by Shady

QUESTIONS The following questions address fraud risk factors and the assessment of fraud risk.a. Which action regarding fraud is an activity related to performance of risk assessmentprocedures? (1) Document the results of procedures used to address the risk of fraud. (2) Discussions among the engagement team members regarding the risks of material misstatement due to […]

Why is it important for the auditor to consider the risk of material mis- statement at the overall financial statement level?

Posted on by Shady

QUESTIONS Chapter 8 introduced the eight parts of the planning phase of an audit. Which parts involve the evaluation of risk? Why is it important for the auditor to consider the risk of material misstatement at the overall financial statement level? Provide two examples of factors that might increase the risk of material misstatement at […]

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