In Those Audits Where There Is a Heightened Risk of Fraud

question 59

Multiple Choice

In those audits where there is a heightened risk of fraud related to debt,which of the following will the auditor not typically perform?

• A)Search public records to identify debt.
• B)Vouch and trace loan proceeds and debt payments.
• C)Send confirmations to lenders and creditors,including confirmation of compliance with any debt covenants.
• D)Obtain photocopies of supporting documents.

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