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Define fraudulent financial reporting and misappropriation of assets and give two examples of each. Why is it important for auditors to consider the risk of

Define fraudulent financial reporting and misappropriation of assets and give two examples of each.

Why is it important for auditors to consider the risk of material misstatement at the overall financial statement level? Provide two examples of factors that might increase the risk of material misstatement at the overall financial statement level.

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