Audit Tests Do Not Relate to Fraud Testing Because Fraud

question 34

True/False

Audit tests do not relate to fraud testing because fraud testing will be performed in a different (forensic)engagement.

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Definitions:

Penalties

Financial or other forms of punishment applied for violation of rules, laws, or contracts.

Critical Path

The series of tasks in a project schedule that must be finished as planned for the project to conclude by its intended deadline.

Variance

A measure of the dispersion or spread in a set of data points, indicating how much the numbers in the dataset differ from the mean.

Probability

A measure of the likelihood of a specific outcome or event occurring.