Which of the following assertions concerning fraudulent financial reporting is inaccurate?

(a) The two types of misstatements relevant to the auditor’s consideration of fraud are (i) misstatements arising from fraudulent financial reporting and (ii) misstatements arising from misappropriation of assets

(b) Misstatements arising from fraudulent financial reporting are intentional misstatements or omissions of amounts or disclosures in financial statements

(c) Fraudulent financial reporting may be accomplished through manipulation, falsification, or alteration of accounting records

(d) Fraudulent financial reporting need not be the result of a grand plan or conspiracy