Which two of the following characterize the work of fraud examiners?a. Analysis of control weaknesses for determination of acceptable fraud risk.b. Analysis of control strengths as a basis for planning other audit procedures.c. Determination of a materiality amount that represents a significant misstatement of the financial statements.d. Consideration of a materiality amount in cumulative terms—that is, becoming large over a number of years
Which two of the following characterize the work of fraud examiners?a. Analysis of control weaknesses for determination of acceptable fraud risk.b. Analysis of control strengths as a basis for planning other audit procedures.c. Determination of a materiality amount that represents a significant misstatement of the financial statements.d. Consideration of a materiality amount in cumulative terms—that is, becoming large over a number of years
Auditing: A Risk Based-Approach (MindTap Course List)
11th Edition
ISBN:9781337619455
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Chapter11: Auditing Inventory, Goods And Services, And Accounts Payable: The Acquisition And Payment Cycle
Section: Chapter Questions
Problem 27CYBK
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Which two of the following characterize the work of fraud examiners?
a. Analysis of control weaknesses for determination of acceptable fraud risk.
b. Analysis of control strengths as a basis for planning other audit procedures.
c. Determination of a materiality amount that represents a significant misstatement of the financial statements.
d. Consideration of a materiality amount in cumulative terms—that is, becoming large over a number of years
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