Multiple Choice
When the auditor detects an intentional misstatement they should all of the following except:
A) reconsider the level of audit risk for the client
B) directly advise ASIC first
C) consider revising the nature, timing, and extent of audit procedures
D) alert management and the audit committee or board
Correct Answer:

Verified
Correct Answer:
Verified
Q7: If management resists making the adjustment, then,
Q8: It is a mandate for all companies
Q9: The AASB has set a hierarchy of
Q10: According to the AASB 138 Intangible Assets,
Q11: Which of the following accounts would be
Q13: ASA 640 encourages the external auditor to
Q14: Considering AASB 139 Financial Instruments: Recognition and
Q15: The auditor may also be required to
Q16: Performance materiality is a materiality level where
Q17: For the same client, APES 110 prohibits