When fraud risk is great in the organization under audit,procedures applied are likely to be more extensive.

Name: When fraud risk is great in the organization under audit,procedures applied are likely to be more extensive.
Brand: Quizplus
Rating: 4.8 (41 reviews)

Question

Quizplus · Accepted Answer

When fraud risk is high, auditors are required to design and perform more extensive procedures to obtain sufficient and appropriate audit evidence. This is to ensure that material misstatements due to fraud are detected or prevented. Therefore, the answer is true.

When Fraud Risk Is Great in the Organization Under Audit,procedures