Question: 22. Prior to or in conjunction with obtaining information to identify risks of fraud, which of the following is required? a. A brainstorming session among
22. Prior to or in conjunction with obtaining information to identify risks of fraud, which of the following is required?
a. A brainstorming session among team members about where financial statements may be susceptible to fraud.
b. A discussion with the client’s legal counsel as to contingent liabilities likely to affect the financial statements.
c. Indirect verification of significant financial statement assertions.
d. Professional skepticism concerning indirect effect illegal acts.
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