Upon discovering information that indicates a material misstatement due to fraud may have occurred, auditors should
A) acquire additional evidence as needed.
B) thoroughly probe the issues.
C) consult with other team members.
D) all of the above.

Question

Quizplus · Accepted Answer

Upon discovering information that indicates a material misstatement due to fraud may have occurred, auditors should acquire additional evidence as needed, thoroughly probe the issues, and consult with other team members to ensure that they have enough evidence to support their conclusion and understand the nature and impact of the potential fraud on the financial statements. Therefore, all of the above options are best choices.

Upon Discovering Information That Indicates a Material Misstatement Due to Fraud