The fraud risk assessment is an important part of the audit that the auditor needs to approach with _______.
A)due diligence
B)professional skepticism
C)the assistance of the internal audit function
D)careful consideration

Question

Quizplus · Accepted Answer

The auditor needs to approach the fraud risk assessment with professional skepticism, which means maintaining a questioning mind and critically assessing evidence. This will help the auditor to identify potential fraud risks that may exist and determine the appropriate audit procedures to apply.

The Fraud Risk Assessment Is an Important Part of the Audit