Fraud is one of the most critical issues that auditors face. Please answer the following questions regarding

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Fraud is one of the most critical issues that auditors face. Please answer the following questions regarding fraud.

a. Identify and explain the two fundamental categories of fraud discussed in class. Which type of fraud is the primary concern of the auditor and why? (8)

b. If the auditor concludes that a high risk of fraud exists for an audit client, explain how the auditor should respond to this risk. (10)

c. If fraud is discovered during an audit, what steps should the auditor take? (7)

Related Book For answer-question

Modern Principles of Economics

ISBN: 978-1429278393

3rd edition

Authors: Tyler Cowen, Alex Tabarrok

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Posted Date: Mar 09, 2022 07:26 AM

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Fraud is one of the most critical issues that auditors face. Please answer the following questions regarding

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Answer Step by Step Explanation a b c iFraud can be defined as any illegal act characterized by deceit concealment or violation of trust These acts ar... View the full answer

Modern Principles of Economics

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