Targeted Fraud Risk Assessment Is Consistent with the PCAOB's Auditing

Multiple Choice

Targeted fraud risk assessment is consistent with the PCAOB's Auditing Standard No. 5 AS5 which:

A) requires a top down approach.
B) requires the audit team to hold a brainstorming session at the beginning of each investigation to determine who has the ability to commit the potential fraud.
C) requires the board of directors to review the internal controls of the entity when fraud of a material amount is detected.
D) requires the audit committee report directly to the independent auditor.