If Significant Fraud Risk Exists, the Auditors Should _______

question 61

Multiple Choice

If significant fraud risk exists, the auditors should _______.

• A)respond by including elements of predictability in their audit plan
• B)respond by including elements of unpredictability in their audit plan
• C)plan to place greater reliance on the internal audit function
• D)be able to place greater reliance on management assertions

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Definitions:

Dominant Values

The most prevalent and widely accepted beliefs, norms, or moral standards in a given society or organization.

Product Quality

The measurement of the features and characteristics of a product that bear on its ability to satisfy stated or implied needs.

Shared Assumptions

Unspoken, deeply held beliefs that influence the behavior and decision-making within an organization or group.

Cultural Symbols

Elements or objects that represent specific ideologies, beliefs, or shared values within a culture, acting as a means of communicating those cultural aspects.