The auditor's consideration of the risk of material misstatement due to fraud is made primarily at the financial statement level, not at the assertion level.

Question

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The auditor's consideration of the risk of material misstatement due to fraud is made both at the financial statement level and at the assertion level for classes of transactions, account balances, and disclosures. This dual-level consideration is necessary to adequately assess and respond to the risks of material misstatement due to fraud.

The Auditor's Consideration of the Risk of Material Misstatement Due