When assessing fraud$$ risk,

Question content area bottom

Part $1$

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.