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Author Question: Auditing standards specifically require auditors to identify ________ as a fraud risk in most audits. (Read 63 times)

olsonmanny@gmail.com

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on: Aug 21, 2022

Question 1

Analytical procedures can be very effective in detecting inventory fraud. Which of the following analytical procedures would not be useful in detecting fraud?
◦ gross margin percentage
◦ inventory turnover
◦ cost of sales percentage
◦ accounts receivable turnover

Question 2

Auditing standards specifically require auditors to identify ________ as a fraud risk in most audits.
◦ overstated assets
◦ understated liabilities
◦ revenue recognition
◦ overstated expenses
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Marked as best answer by olsonmanny@gmail.com on Aug 21, 2022

DevinBrifm

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Reply #1 on: Aug 21, 2022
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olsonmanny@gmail.com

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Reply 2 on: Aug 21, 2022
Great answer, keep it coming :)

kthug

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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