American Bankers Association Exam CTFA Topic 4 Question 82 Discussion

Actual exam question for American Bankers Association's CTFA exam

Question #: 82
Topic #: 4

[All CTFA Questions]

Which are the types of misstatements relevant to the auditor's consideration of fraud in a financial statement audit?

AMisstatements arising from fraudulent financial reporting

BMisstatements arising from misappropriations of assets

CBoth A & B

DNeither A nor B

Show Suggested Answer

Suggested Answer: B

by Jutta at Dec 05, 2024, 07:06 AM

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Edwin

17 days ago

Hah, this is a no-brainer! Of course it's C. Auditors have to be on the lookout for both types of misstatements, or else they might as well just hand out free money to the fraud enthusiasts. Gotta stay vigilant, folks!

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Daniela

23 days ago

C is the way to go! Auditors need to keep an eye out for any kind of funny business, whether it's cooking the books or light-fingered employees. Gotta catch 'em all, like a financial Pokémon master!

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Micheline

1 months ago

Ooh, this one's tricky! I'm gonna have to go with C as well. Can't forget about those sneaky asset misappropriations, they're just as important as the financial reporting shenanigans.

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Flo

2 days ago

Yeah, misstatements from fraudulent financial reporting and misappropriations of assets can both impact the accuracy of the financial statements.

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Jamal

21 days ago

I think it's C too. Both types of misstatements are crucial for the auditor to consider.

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2 months ago

I think the types of misstatements relevant to fraud are both A & B.

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