Solution-Which one of the statements about fraud is not true

Which one of the statements about fraud is not true

Assignment Help Accounting Basics

Reference no: EM132944895

Problem 1: Which one of the following statements about fraud is NOT true?

Option 1: The responsibility for preventing fraud rests with those charged with governance.

Option 2: Fraud is an intentional act involving deception and results in misstatement of the financial statements that are being audited.

Option 3: Auditors should adopt an attitude of professional skepticism to ensure any indicator of a potential fraud is properly investigated.

Option 4: Auditors are responsible for preventing and detecting fraud.

Problem 2: Which one of the following steps does NOT form part of the risk assessmnet phase of the audit?

Option 1: Understanding the client

Option 2: Risk identification and strategy

Option 3: Risk and materiality assessment

Option 4: Tests of control

Reference no: EM132944895

Questions Cloud

Violate the sexual harassment policy : Explain some consequences when an employee in healthcare violates a policy or procedure. When they violate the sexual harassment policy/

Assignment-the cultural environment : Select a peer-reviewed article that focuses on the cultural differences leadership/management will need to handle in a global business. The article must be publ

Disadvantages of database management systems : Discuss the advantages and disadvantages of Database Management Systems (DBSMs). What do you personally think of Database Management Systems?

Explain the business risks : Explain the business risks that faced Banco Filipino that management should have adequately managed in order to avoid the bank's closure.

Which one of the statements about fraud is not true : Which one of the steps does NOT form part of the risk assessmnet phase of the audit? Which one of the statements about fraud is NOT true

Compare rtr and the crm system : Compare RTR and the CRM system you recommend to a competitor in the industry and outline the competitive advantage created for RTR by using the suggested CRM sy

List at least four factors that the high court of australia : List at least four (4) factors that the High Court of Australia would consider in trying to determine whether the parties intended an agreement to be legally bi

Which would be kept on the permanent audit file : Which would be kept on the permanent audit file? Which is NOT one of the phases in planning an audit? Perform preliminary analytical procedures

How do brick-and-mortar stores and online businesses : How do Brick-and-mortar stores and online businesses have different perspectives regarding competitive advantage.

User Account

All Pages

Which one of the statements about fraud is not true

Reference no: EM132944895

Reference no: EM132944895

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

How much control does fed have over this longer real rate

Coures:- fundamental accounting principles

Accounting problems

Theory of interest - term structure of interest rates

Write a report on internal controls

Prepare the bank reconciliation for company

Cost-benefit analysis

Theory of interest

Liquidity and profitability

What is the expected risk premium on the portfolio

Simple interest and compound interest

Capm and venture capital

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT