MENU
Judgments about the risk of material misstatement due to fraud have an overall effect on how the audit is concluded in what ways?
Suggested Answer: D
Get Premium SOFA-CFE Questions
as Interactive Web-Based Practice Test or PDF
Real Exam Format
Detailed Explanations
Instant Access
Get Your Practice Test
12 comments · newest first
GE
Gertude
11 months ago
Accounting principles? Not so sure about that one.
AN
Annelle
11 months ago
Predictability of auditing procedures is key, for sure!
CA
Cathern
12 months ago
Really? All of the above? Seems like a stretch.
ST
Stephanie
12 months ago
I think it impacts all aspects, so D is the way to go!
AL
Alesia
12 months ago
Definitely affects assignment of personnel and supervision.
DE
Deonna
1 year 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.
DO
Dorethea
1 year ago
I'm a bit uncertain about how predictability of auditing procedures ties into fraud risk. It feels like it could be important, though.
LA
Lazaro
1 year ago
I think we practiced a question similar to this where all options were relevant, so maybe D is the right choice?
NA
Nada
1 year 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.
LU
Luisa
1 year ago
Hmm, I'm a bit unsure about this one. I'll need to think it through carefully before selecting an answer.
EI
Eileen
1 year 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%.
BE
Belen
1 year 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.