Which of the Following Is not a Required Source of Information

question 2

Multiple Choice

Which of the following is not a required source of information for the auditors' assessment of fraud risk?

• A)Discussion among audit team members.
• B)Fraud risk factors.
• C)Results of tests of controls.
• D)Inquiry of management and others.

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Definitions:

Escalating commitment

A decision-making process where individuals or organizations continue to invest in a failing course of action due to the significant resources already spent.

Non-programmed Decision-Making

The process of making decisions in unpredictable and unique situations, requiring creative and critical thinking beyond routine procedures.

Satisficing

A decision-making strategy that aims for a satisfactory or adequate result, rather than the optimal solution, due to constraints.

Consultative decisions

a process where decision-making is shared among group members, often leading to consensus.