An intentional misstatement or omission of amounts or disclosures with the intent to deceive users is called fraudulent audit practice.

Question

Quizplus · Accepted Answer

An intentional misstatement or omission of amounts or disclosures with the intent to deceive users is called fraudulent financial reporting, not fraudulent audit practice. Fraudulent audit practice would refer to misconduct by auditors, not the entity being audited.

An Intentional Misstatement or Omission of Amounts or Disclosures with the Intent