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IMPORTANT ELEMENTS OF THE AUDIT PROCESS
RESPONSIBILITIES IN RELATION TO FRAUD
Management and Those Responsibilities of the
Charged with Governance Auditor
> ISA 240
> Preventing and detection > Professional skepticism
> Setting tone and culture of > Facilitate discussion among the audit team
honesty
> Conduct risk assessment procedures & other
activities
> Risk assessment that AFS may be
misstated due to fraud > Identify and asses the ROMM @ both FS and
Assertion Level
> Determine overall responses to address risks
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