Evidence of Fraud, Whether or Not Material, on the Part

question 7

True/False

Evidence of fraud, whether or not material, on the part of senior management, would likely cause the auditor to conclude that the client had a material weakness in internal control over financial reporting.

---

Definitions:

Object

In general terms, refers to any tangible or intangible entity; in psychology, it can also refer to a target of attention, thought, or affection.

Phobics

Refers to individuals who suffer from phobias, extreme or irrational fears of specific situations, objects, or activities.

Intelligence

The ability to learn from one’s experiences, acquire knowledge, and use resources effectively in adapting to new situations or solving problems.

Irrationality

The quality of being illogical, unreasonable, or lacking sound judgment.