7.What are the types of fraud most relevant to the auditor of financial statements?

a. misstatements arising from misappropriation of assets

b. corruption

c. misstatements arising from fraudulent financial reporting

d. A and C only

e. all of the above

9.Who is responsible for engaging the external audit firm to audit the financial statements and for giving final approval for the issuance of the financial statements?

a. the audit committee of the board of directors

b. the Securities and Exchange Commission

c. Management of the issuing company

d. the shareholders