The Fraud Discussion May Include the Following Elements

question 6

Multiple Choice

The fraud discussion may include the following elements

• A)a discussion of management's involvement in supervising employees with access to cash or other assets susceptible to misappropriation
• B)a consideration of unusual or unexplained changes in the behavior or lifestyle of employees that have come to the attention of the auditor
• C)a consideration of the types of evidence that might indicate the possibility of fraud
• D)a discussion of how an element of predictability will be built into the nature,timing,and extent of audit procedures
• E)a discussion of any allegations of fraud that have come to the attention of management
• F)both A and B
• G)both C and D
• H)both C and E

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Definitions:

Act of Court

A formal decision, decree, or intervention carried out by a judicial entity or court of law.

Limited Partnership

A business structure where at least one partner is designated as a general partner with unlimited liability, and at least one other is a limited partner whose liability is restricted to their investment.

Proper Procedures

Established methods or protocols that are deemed appropriate and correct for carrying out specific tasks or activities.

Partnership Creation

The process and actions necessary to form a partnership, including the agreement between two or more parties to carry on a business for profit.