According to professional audit standards,the audit team should meet early in the planning stages of an audit to conduct a fraud "brainstorming" meeting in order to determine the types of fraud that may occur with the client.

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This statement is true according to professional audit standards, such as those set by the American Institute of Certified Public Accountants (AICPA) and the International Auditing and Assurance Standards Board (IAASB). The purpose of the fraud brainstorming meeting is to encourage discussion among the audit team about the potential risks of fraud, the nature of the client's business and industry, and any known issues or concerns that may increase the likelihood of fraud. This helps the team to develop more effective audit procedures and to focus their attention on areas of the audit where there may be a higher risk of fraud.

According to Professional Audit Standards,the Audit Team Should Meet Early