Which of the Following Is Correct Relating to "Fraud Risk

question 73

Multiple Choice

Which of the following is correct relating to "fraud risk factor"?

• A)it may affect the auditors assessment of risks relating to fraud
• B)if it involves senior management,it will result in resignation of the auditor
• C)it is also a material weakness in internal control
• D)the planned audit procedures would require modifications

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Definitions:

External Users

Individuals or entities outside of an organization who are interested in its financial information, such as investors, creditors, and analysts.

Historical Data

Information from the past used for analysis to understand trends, patterns, and to plan future moves.

Planning Process

A systematic approach involving the development of strategies and allocating resources to achieve organizational goals.

Next Financial Year

The forthcoming fiscal period for a business or organization, following the current fiscal year.