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SOFE SOFA-CFE Exam - Topic 5 Question 8 Discussion

Actual exam question for SOFE's SOFA-CFE exam
Question #: 8
Topic #: 5
[All SOFA-CFE Questions]

Judgments about the risk of material misstatement due to fraud have an overall effect on how the audit is concluded in what ways?

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Suggested Answer: D

by Ma at May 07, 2022, 04:11 AM

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Gertude
7 months ago
Accounting principles? Not so sure about that one.
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Annelle
7 months ago
Predictability of auditing procedures is key, for sure!
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Cathern
7 months ago
Really? All of the above? Seems like a stretch.
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Stephanie
7 months ago
I think it impacts all aspects, so D is the way to go!
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Alesia
7 months ago
Definitely affects assignment of personnel and supervision.
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Deonna
8 months ago
I recall that higher fraud risk means more supervision is needed, which makes me lean towards A, but I wonder if D could also be correct.
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Dorethea
8 months ago
I'm a bit uncertain about how predictability of auditing procedures ties into fraud risk. It feels like it could be important, though.
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Lazaro
8 months ago
I think we practiced a question similar to this where all options were relevant, so maybe D is the right choice?
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Nada
8 months ago
I remember we discussed how the risk of material misstatement affects the assignment of personnel, but I'm not sure if it impacts accounting principles directly.
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Luisa
8 months ago
Hmm, I'm a bit unsure about this one. I'll need to think it through carefully before selecting an answer.
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Eileen
8 months ago
Whoa, this is a tough one. I remember learning about insider threats in class, but I can't recall the exact percentage. I'll have to guess and go with C, 50%.
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Belen
8 months ago
Hmm, I'm a bit unsure here. I think communicating the potential impact to the application owner might be the safest first step, but I'm not totally confident.
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