The risk of fraudulent financial reporting increases in the presence of a. Substantial increases in sales. b. Incentive systems based on operating income. c. Improved control systems. d. Frequent changes in suppliers.

Question

The risk of fraudulent financial reporting increases in the presence of a. Substantial increases in sales. b. Incentive systems based on operating income. c. Improved control systems. d. Frequent changes in suppliers.

The risk of fraudulent financial reporting
increases in the presence of
a. Substantial increases in sales.
b. Incentive systems based on
operating income.
c. Improved control systems.
d. Frequent changes in suppliers.

asked Nov 3, 2021 by shubhhw

1 Answer

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Last Answer : To disclose to the Bureau of Internal Revenue any fraudulent scheme committed by the client on payment of income tax

A professional accountant has a professional duty or right to disclose confidential information in each of the following, except: a. To disclose to BIR fraudulent scheme committed by the client on payment of income tax. b. To comply with technical standards and ethics requirements. c. To comply with the quality review of amember body or professional bodyd. To respond to an inquiry or investigationby a member body or regulatory body

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Last Answer : Are financial reporting operations controlled by and limited to one location?

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Last Answer : Management operating and financing decisions are dominated by top management.

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Last Answer : The expected audit coverage, including the number and locations of the entity's components to be included.

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The integrated national professional organization of Certified Public Accountants accredited by the BOA and the PRC per PRC accreditation No. 15 dated October 2, 1975. a. Philippine Institute of Certified Public Accountants (PICPA) b. Auditing and Assurance Standards Council (AASC) c. Financial Reporting Standards Council (FRSC) d. Education Technical Council (ETC)

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Which of the following statements is correct? a. The fair presentation of audited financial statements in accordance with applicable financial reporting framework is an implicit part of the auditor’s responsibility. b. Professional judgment can be used as the justification for the decisions made by the auditor that are not otherwise supported by the facts and circumstances of the engagement or sufficient appropriate evidence. c. Appropriateness is the measure of the quality of evidence, that is, its reliability and persuasiveness. d. Most CPAs, including those who provide audit and tax services, also provide consulting services to their clients.

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Last Answer : Most CPAs, including those who provide audit and tax services, also provide consulting services to their clients.

shubhhw · Answer 1 · 2021-11-03T08:43:38+0000

Answer :

Incentive systems based on
operating income.

answered Nov 3, 2021 by shubhhw

The risk of fraudulent financial reporting increases in the presence of a. Substantial increases in sales. b. Incentive systems based on operating income. c. Improved control systems. d. Frequent changes in suppliers.

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