When Considering the Risk of Misstatement Due to Fraud

Multiple Choice

When considering the risk of misstatement due to fraud,

A) the risk of not detecting a material misstatement due to fraud is lower than the risk of not detecting a misstatement due to error.
B) the risk is only made at the financial statement level.
C) auditing standards require the auditor to presume that risk of fraud exists in expense transactions.
D) auditing standards outline procedures the auditor should perform to obtain information from management about their consideration of fraud.