What Are the Sources of Information Auditors Should Use When

question 16

Essay

What are the sources of information auditors should use when assessing fraud risk?

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Definitions:

Multitouch

A technology that enables a surface (such as a touchscreen) to recognize the presence of more than one point of contact with the surface simultaneously.

Goodwill

The intangible asset that arises when a business is acquired for more than the fair value of its visible, tangible assets; often related to the brand reputation, customer loyalty, and other factors not directly quantifiable.

Production

The act of producing goods and services by merging workforce, materials, and technology.

Consumers

Individuals or entities that purchase goods or services for personal use or consumption.