Which of the Following Is Correct Relating to "Fraud Risk

question 73

Multiple Choice

Which of the following is correct relating to "fraud risk factor"?

• A)it may affect the auditors assessment of risks relating to fraud
• B)if it involves senior management,it will result in resignation of the auditor
• C)it is also a material weakness in internal control
• D)the planned audit procedures would require modifications

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Definitions:

Financial Plan

A comprehensive evaluation of an individual's current and future financial state by using currently known variables to predict future cash flows, asset values, and withdrawal plans.

Economic Plan

A systematic strategy formulated to achieve financial growth or stability within a country, organization, or household.

Commercial Capitalists

Individuals or entities engaged in the buying, selling, and distribution of goods with the aim of profit, often influential in the development of the modern economic system.

Federal Government

The national government of a federation, which holds the authority to govern issues that affect the entire country, such as defense, foreign policy, and currency regulation.