When fraud risk is high in the organization under audit,the nature,timing and extent of procedures applied will likely need to be changed.

Question

Quizplus · Accepted Answer

When fraud risk is high, auditor needs to take more rigorous procedures, which may include increasing the extent, scope, and timing of audit procedures to detect and prevent fraud. Thus, the nature, timing, and extent of procedures applied will likely need to be changed. Therefore, the statement is true.

When Fraud Risk Is High in the Organization Under Audit,the