Misstatements that are material to the financial statements caused by intentional or reckless conduct is(are)called

Question

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Intentional or reckless conduct causing misstatements that are material to the financial statements is referred to as fraudulent financial reporting. This includes intentional manipulation, falsification, or altering of accounting records or other financial statements. Collusion refers to a secret agreement between two or more parties to commit fraud or deceive another party. Gross errors refer to unintentional mistakes or errors in the financial statements. Internal controls refer to the policies and procedures put in place to ensure the reliability of financial reporting and the protection of assets.

Misstatements That Are Material to the Financial Statements Caused by Intentional