Which of the Following Procedures Is Not a Fraud-Related Audit

question 66

Multiple Choice

Which of the following procedures is not a fraud-related audit procedure used to respond to identified fraud risk factors?

• A)Physically inspect tangible assets,including major additions,and agree serial numbers with invoices or other supporting documents.
• B)Use the work of a specialist for asset valuations,including impairments.
• C)Confirm the terms of significant additions of property or intangibles with other parties involved in the transaction.
• D)All of the above are fraud-related audit procedures.

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Definitions:

Mental Disorders

Disorders that affect mood, thinking, and behavior, often requiring clinical intervention for diagnosis and treatment.

Socio-Emotional Selectivity Theory

A theory suggesting that as people age, they prioritize emotionally meaningful goals and relationships due to perceptions of decreasing time.

Negative Information

Data or facts that are unfavorable, distressing, or undesirable, often influencing perceptions or decisions.

Mental Illnesses

Disorders that affect mood, thinking, and behavior, ranging from depression and anxiety to schizophrenia and bipolar disorder.