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Auditing standards require that the engagement team members engage in discussion about the susceptibility of the financial statements to the risk of fraud. How does
Auditing standards require that the engagement team members engage in discussion about the susceptibility of the financial statements to the risk of fraud. How does this discussion relate to the required discussion about the risk of material misstatement?
Auditing standards that the discussion among engagement team members consider the susceptibility of the client's financial statements to fraud their susceptibility of material misstatement due to errors. A discussion about fraud the discussion about the susceptibility of the financial statements to material misstatement due to error. These discussions should include about business risks and how and where the financial statements might be susceptible to material misstatements,
explicitly require
in addition to
can be held concurrently with
suggest or must be held separately from
a meeting with the client's employees
due to error
an exchange of ideas or brainstorming among the engagement team members due to fraud whether due to fraud or error
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