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malhi101 malhi101
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A year ago
When considering the risk of misstatement due to fraud,

▸ the risk of not detecting a material misstatement due to fraud is lower than the risk of not detecting a misstatement due to error.

▸ the risk is only made at the financial statement level.

▸ auditing standards require the auditor to presume that risk of fraud exists in expense transactions.

▸ auditing standards outline procedures the auditor should perform to obtain information from management about their consideration of fraud.
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Auditing and Assurance Services

Auditing and Assurance Services


Edition: 17th
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webmom2008webmom2008
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A year ago
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malhi101 Author
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A year ago
This calls for a celebration Person Raising Both Hands in Celebration
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Thanks for your help!!
deathwing
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this is exactly what I needed
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