The Major Emphasis in GAAS Related to Consideration of Fraud

question 49

Multiple Choice

The major emphasis in GAAS related to consideration of fraud in a financial statement audit (AU 240) is on

• A)employee misappropriation of assets.
• B)management fraud.
• C)client fraud on customers.
• D)employee embezzlement.

---

Definitions:

Order Management System

A software used to track orders from inception to delivery, streamlining the order processing for businesses.

SCOR Model

The Supply Chain Operations Reference model, a management tool used to address, improve, and communicate supply chain management decisions.

Level One Processes

Processes at the most basic or initial stage, often referring to core, fundamental business operations or activities.

Suggested Metrics

Recommended measurements or indicators used to evaluate the performance or success of an operation, project, or system.