Canadian Auditing Standards require auditors to always presume fraud risk to be present in the audit of revenues.

Question

Quizplus · Accepted Answer

According to Canadian Auditing Standards, auditors are required to presume that fraud risk relating to revenue is always present in the audit. This means that auditors must consider the risk of material misstatement due to fraud when designing and performing audit procedures related to revenue.

Canadian Auditing Standards Require Auditors to Always Presume Fraud Risk