Auditors Are Mandated to Assess the Client's Risk of Financial

question 3

Multiple Choice

Auditors are mandated to assess the client's risk of financial reporting fraud.Auditing standard SAS-99 considers the following a mandatory tool in fraud assessment:

• A)Discussion and brainstorming
• B)Fraud triangle
• C)Interviews with management
• D)Development of fraud training programs
• E)All of the above

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Definitions:

Preventive Maintenance

A plan that involves routine inspections, servicing, and keeping facilities in good repair to prevent failure.

Efficiency Level

A measurement of how well an entity uses its resources to achieve goals, often defined by the ratio of useful output to total input.

Theory Of Constraints

is a management philosophy focusing on identifying and managing the most critical limiting factor (constraint) that stands in the way of achieving a goal.

Constrained Workstations

Work areas within a production process that have limitations or restrictions affecting throughput or output.