Select the correct answer(s) for the following multiple choice questions. Note that there may be more than one correct answer. SAS No. 99 requires auditors to: Understand fraud and why it is committed. Due to confidentiality concerns, limit discussion among audit team members of how and where the company’s financial statements have been susceptible to fraud in prior years. Identify, assess, and respond to risks by varying the nature, timing, and extent of audit procedures. Evaluate the results of their audit tests to determine whether misstatements indicate the presence of fraud. Document and communicate findings to the general public. Limit the use of technology in the audit due to management’s ability to change or manipulate electronic records. honesty
Select the correct answer(s) for the following multiple choice questions. Note that there may be more than one correct answer. SAS No. 99 requires auditors to: Understand fraud and why it is committed. Due to confidentiality concerns, limit discussion among audit team members of how and where the company’s financial statements have been susceptible to fraud in prior years. Identify, assess, and respond to risks by varying the nature, timing, and extent of audit procedures. Evaluate the results of their audit tests to determine whether misstatements indicate the presence of fraud. Document and communicate findings to the general public. Limit the use of technology in the audit due to management’s ability to change or manipulate electronic records. honesty
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Select the correct answer(s) for the following multiple choice questions. Note that there may be more than one correct answer.
SAS No. 99 requires auditors to:
-
- Understand fraud and why it is committed.
- Due to confidentiality concerns, limit discussion among audit team members of how and where the company’s financial statements have been susceptible to fraud in prior years.
- Identify, assess, and respond to risks by varying the nature, timing, and extent of
audit procedures. - Evaluate the results of their audit tests to determine whether misstatements indicate the presence of fraud.
- Document and communicate findings to the general public.
- Limit the use of technology in the audit due to management’s ability to change or manipulate electronic records.
- honesty
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