Substantive procedures performed by the auditor will include procedures to address fraud risks.

Question

Quizplus · Accepted Answer

This is because the auditor is required to plan and perform audit procedures to obtain sufficient appropriate audit evidence in order to address the risk of material misstatement due to fraud. This involves considering the risks of fraud in the specific areas of the financial statements being audited, assessing the potential for fraud to occur, and designing and implementing procedures to address those risks.

Substantive Procedures Performed by the Auditor Will Include Procedures to Address