Auditing standards require that a brainstorming session should be held at the beginning of each audit to

Question:

Auditing standards require that a "brainstorming" session should be held at the beginning of each audit to help identify steps to assess the possibility that material misstatements/fraud in the exist. Discuss how brainstorming sessions might enhance audit judgments, professional skepticism, and decision making. Consider the groupthink dimension in your discussion?
Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...