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SOFE Exam AFE Topic 2 Question 89 Discussion

Actual exam question for SOFE's AFE exam
Question #: 89
Topic #: 2
[All AFE Questions]

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

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Suggested Answer: B

by Carlota at Sep 17, 2024, 06:54 PM

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Cherelle
12 days ago
Option D? Really? That's like a doctor saying 'Neither broken bones nor internal bleeding are relevant to my consideration of the patient's injuries.' Ridiculous!
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Eden
17 days ago
I'm with the group on this one. Covering all the bases when it comes to fraud is crucial for the auditor. They can't just pick and choose which types of misstatements to look at.
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Shala
27 days ago
Haha, this is a no-brainer! If the auditor isn't considering both A and B, they might as well be wearing a clown nose and juggling while they do the audit.
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Veronica
23 hours ago
User 3: Absolutely, the auditor's job is to ensure the financial statements are free from material misstatements, including those related to fraud.
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Herminia
13 days ago
User 2: Agreed, it's crucial for auditors to be aware of all potential fraud risks.
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Layla
15 days ago
User 1: Definitely C) Both A & B. Can't have a proper audit without considering both types of misstatements.
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Fallon
1 months ago
I agree with Dorethea. The auditor needs to be aware of both types of misstatements to properly assess the risk of fraud in the financial statements.
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Mozell
7 days ago
Agreed, it's crucial for the auditor to be thorough in their evaluation of potential fraud risks.
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Gail
22 days ago
The auditor needs to be aware of both types of misstatements to properly assess the risk of fraud in the financial statements.
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Caprice
29 days ago
Yes, misstatements arising from fraudulent financial reporting and misappropriations of assets are important to consider.
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Sabra
1 months ago
I think the types of misstatements relevant to the auditor's consideration of fraud are both A & B.
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Antonio
2 months ago
I'm not sure, but I think misstatements relevant to fraud can also include misappropriations of assets.
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Paola
2 months ago
I agree with Salena, misstatements can arise from both fraudulent financial reporting and misappropriations of assets.
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Salena
2 months ago
I think the types of misstatements relevant to fraud are both A & B.
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Dorethea
2 months ago
Option C seems like the obvious choice here. Both fraudulent financial reporting and misappropriation of assets are definitely relevant to an auditor's consideration of fraud.
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Jodi
19 days ago
Yes, it's important for auditors to consider both fraudulent financial reporting and misappropriation of assets when assessing the risk of fraud in financial statements.
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Lottie
23 days ago
I agree, option C covers both types of misstatements that are relevant to the auditor's consideration of fraud.
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Trina
2 months ago
I'm not sure, but I think misstatements relevant to fraud can also include neither A nor B.
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Shay
2 months ago
I agree with Cecil, misstatements can arise from both fraudulent financial reporting and misappropriations of assets.
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Cecil
2 months ago
I think the types of misstatements relevant to fraud are both A & B.
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