The auditor's risk assessment for fraud should be ongoing throughout the audit.

Question

Quizplus · Accepted Answer

The auditor should continually assess the risk of fraud throughout the audit process and adjust audit procedures accordingly. This is necessary because fraud can occur at any time, and new information may come to light during the course of the audit that increases or decreases the risk of fraud. The auditor should remain vigilant and responsive to changes in risk throughout the audit.

The Auditor's Risk Assessment for Fraud Should Be Ongoing Throughout