Multiple Choice
Which of the following statements best describes the outcome of the auditor discovering fraud in the financial statements?
A) The outcome will depend on the type of the fraud,along with its materiality.
B) Management must disclose any and all fraud directly in the footnotes.
C) The auditor is required to include a full description of the fraud in the audit report to the financial statements.
D) There is no bearing on the financial statements by fraud that is discovered by the auditor.
Correct Answer:
Verified
Correct Answer:
Verified
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