In Connection with the Audit of Financial Statements, an Independent

question 64

Multiple Choice

In connection with the audit of financial statements, an independent auditor could be responsible for failure to detect a material fraud if

• A) statistical sampling techniques were not used on the audit engagement.
• B) the auditor planned the audit in a negligent manner.
• C) accountants performing important parts of the work failed to discover a close relationship between the treasurer and the cashier.
• D) the fraud was perpetrated by one employee who circumvented the existing internal controls.

---

Definitions:

Add Meaning

The act of giving significance or value to experiences or objects, often by associating them with emotions, thoughts, or values.

MI Guidelines

Standards or protocols associated with motivational interviewing, aimed at enhancing an individual's motivation towards change.

Non-Personal Way

An approach or manner that lacks personal connection or emotional involvement.

Menu Of Options

A selection or range of choices or alternatives offered to someone, often used in the context of decision-making strategies.