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Question 4 Fraud (25) Fraud is one of the most critical issues that auditors face. Please answer the following questions regarding fraud. Identify and explain
Question 4 Fraud (25)
Fraud is one of the most critical issues that auditors face. Please answer the following questions regarding fraud.
- Identify and explain the two fundamental categories of fraud discussed in class. Which type of fraud is the primary concern of the auditor and why? (8)
- If the auditor concludes that a high risk of fraud exists for an audit client, explain how the auditor should respond to this risk. (10)
- If fraud is discovered during an audit, what steps should the auditor take? (7)
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