Discussion among the audit team members regarding the risks of material misstatement due to fraud. Inquire of management and others about their views on the risks of fraud and how it is addressed. Consider any unusual or unexpected relationships that have been identified in performing analytical procedures in planning the audit. Understand the client's period-end closing process and investigate unexpected periodend adjustments.
Discussion among the audit team members regarding the risks of material misstatement due to fraud. Inquire of management and others about their views on the risks of fraud and how it is addressed. Consider any unusual or unexpected relationships that have been identified in performing analytical procedures in planning the audit. Understand the client's period-end closing process and investigate unexpected periodend adjustments.
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