Auditors Should Make Inquiries About Whether There Is Knowledge of Fraud

question 32

Multiple Choice

Auditors should make inquiries about whether there is knowledge of fraud in the company. Such inquiries should be made of:

• A) management.
• B) the audit committee.
• C) internal auditors.
• D) All of the above.

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Definitions:

American Mainland

Refers to the continental part of the United States excluding Alaska, Hawaii, and other offshore territories.

Dutch Loans

Financial loans provided by the Dutch to other countries or entities in the past, significant in early American history for helping to finance the American Revolutionary War.

Revolutionary War

The conflict between the thirteen American colonies and Great Britain (1775-1783) leading to American independence.

Chesapeake Gentry

Refers to the affluent, land-owning class in the Chesapeake Bay region during the colonial and early United States periods, characterized by their plantation economy and reliance on indentured servants and slaves.