Upon Discovering Information That Indicates a Material Misstatement Due to Fraud

question 87

Multiple Choice

Upon discovering information that indicates a material misstatement due to fraud may have occurred, auditors should

• A) acquire additional evidence as needed.
• B) thoroughly probe the issues.
• C) consult with other team members.
• D) all of the above.

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Definitions:

Adjustment

The process of modifying data or variables to remove errors, biases, or to account for known anomalies.

Summer School

A specialized program offered during the summer vacation, which provides extra instruction or courses in a variety of subjects.

Academic Planner

A tool or software used by students and educators to organize and plan academic activities and coursework.

Student Body

The collective group of students enrolled at an educational institution.