He will lift you up with wings like eagles Flashcards
1
Q
What are the 3 overall responses to the risk of MM due to fraud?
A
Assigning personnel with particular skill relating to the area and considering the necessary extent of supervision to the audit.
Increase the consideration of mgmts selection and application of acct principles
Make less predictable audit procedures
2
Q
What is the risk of accepting a population as being materially correct when in fact it is materially misstated.
A
Incorrect acceptance
3
Q
What is the date of the accountants compilation report
A
the completion of the requited compilation procedures
