In 2014, Tesco, the supermarket chain in the UK, whose auditor is PwC has been found to have overstated its profits by 263m after revenue recognition irregularities were spotted in its half-year results, with regulators including the Financial Conduct Authority (FCA) set to decide on a suitable punishment.

SAS 99, "Consideration of Fraud in a Financial Statement Audit" states that a brainstorming session must be held among audit team members to evaluate whether there's a risk of material misstatement in the company's financial statements due to fraud.

Required: , critically evaluate the need for brainstorming session as required by current auditing standards. Be sure to include a list of ideas that should be addressed in the session.