FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Concept explainers

Fraud
Fraud in accounting is the planned manipulation of financial documents to make a false appearance of corporate financial health. Moreover, it includes an employee, accountant, or the company itself misleading investors and shareholders.
Question

7

At the end of the audit, the auditor reconsiders their assessment of internal control and fraud risk. To perform this evaluation, auditors must consider the involvement of those charged with governance. consider management's opinion on the significance of the qualitative factors involved. use professional judgement. use professional scepticism.
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Transcribed Image Text:At the end of the audit, the auditor reconsiders their assessment of internal control and fraud risk. To perform this evaluation, auditors must consider the involvement of those charged with governance. consider management's opinion on the significance of the qualitative factors involved. use professional judgement. use professional scepticism.
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