susceptibility of fraud r

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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38

Members of the audit engagement team are required to discuss the susceptibility of the entity’s financial statements to material misstatement due to fraud. The susceptibility of fraud refers to ___________
a.
Fraud which is already occurred in financial statements
b.
Likelihood of fraud in financial statements
c.
Non-deliberate misstatement of financial statements
d.
None of the options
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