Multiple Choice
Which of the following is not an acceptable response to fraud risks related to sales that were identified in an audit?
A) Exercise professional skepticism when performing sales testing.
B) Increase the assessment of control risk for sales.
C) Increase the assessment of detection risk for sales.
D) Perform additional substantive sales procedures on a surprise basis.
Correct Answer:
Verified
Correct Answer:
Verified
Q13: Items 1 through 6 represent an auditor's
Q14: When determining the inherent risk related to
Q15: Management fraud generally refers to:<br>A)unintentional mistakes.<br>B)noncompliance.<br>C)intentional distortions
Q16: Inherent risk and control risk differ from
Q17: The type of financial analysis that expresses
Q19: An auditor who discovers that client employees
Q20: An audit team uses the assessed risk
Q21: When an auditor becomes aware of possible
Q22: Auditors would use the enterprise risk model:<br>A)to
Q23: Which of the following statements concerning noncompliance