Fraudulent Financial Reporting Risks Include Which of the Following
Which of the following factors most likely would heighten an auditors concern about the risk of fraudulent financial reporting. Which of the following is not a factor that relates to opportunities to commit fraudulent financial reporting. Difference Between Internal Audit Internal Control Audit Services Managements practice of making overly aggressive forecasts. . Substantial increases in sales. Fraudulent financial reporting is an intentional misstatement or omission of amounts or disclosures with the intent to deceive users of the financial statement. Although the risk factors cover a broad range of situations they are only examples and accordingly the auditor may wish to consider. As indicated in SAS No. Fraudulent financial reporting often involves management override of controls that otherwise may appear to be operating effectively. Growth is considered a risk factor. The cost is reported as a miscell...