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When assessing fraud risk, Question content area bottom Part 1 A . fraud risk is assessed only at the overall financial statement level. B .
When assessing fraud risk,
Question content area bottom
Part
A
fraud risk is assessed only at the overall financial statement level.
B
auditing standards require that the auditor presume there is a risk of fraud in the inventory account.
C
if the auditor concludes that there is a risk of material misstatement due to fraud, auditing standards require that the risks be treated as pervasive.
D
the auditor's assessment of fraud risk should be ongoing throughout the audit.
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