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If the auditor believes the risk of material misstatement due to fraud is high, what does SAS 99 suggest they do?

a. Assign audit personnel who have the requisite knowledge, skills and abilities commensurate with the fraud risk assessed and consider engaging other persons who have specialized skills and knowledge such as forensic specialists

b. Carefully consider whether management's choice of accounting principles is appropriate, especially those that involve the use of subjective measurements and those that apply to complex transactions

c. Incorporate an element of unpredictability to the nature, timing, and extent of audit testing so that the client cannot easily arrange to avoid detection of management fraud

d. All of the above

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  • Category:- Accounting Basics
  • Reference No.:- M944376

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