What Is an Example of a Condition That May Be

question 10

Multiple Choice

What is an example of a condition that may be identified during field work that changes or supports a judgement about the initial assessment of fraud risks?

• A) a government announcement of an interest rate rise
• B) a wage rise granted to all employees during the audit
• C) conflicting or missing evidential matters
• D) development of a new product line

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Definitions:

Accounting Data

Information and records relating to the financial transactions of a business.

Accounting Process

The systematic series of steps undertaken to record, classify, and summarize financial transactions and present financial statements.

Tax Returns

Official documents filed with a government body, detailing income earned and taxes owed for the year.

Public Accountants

Professionals who provide accounting services to the public, including auditing, taxation, and consulting.