Which of the following statements is not true about red flags?
A) It can be challenging to quantify red flags.
B) There is a scarcity of established literature on red flags.
C) Red flags can point auditors to intentional wrongdoing, errors and omissions, inefficiency, and conflicts of interest.
D) Red flags do not necessarily mean that fraud exists.

Question

Quizplus · Accepted Answer

There is a substantial amount of established literature on red flags, especially in the context of auditing and fraud detection.

Which of the Following Statements Is Not True About Red