American Bankers Association Exam CTFA Topic 4 Question 82 Discussion

Actual exam question for American Bankers Association's CTFA exam

Question #: 82
Topic #: 4

[All CTFA Questions]

Which are the types of misstatements relevant to the auditor's consideration of fraud in a financial statement audit?

AMisstatements arising from fraudulent financial reporting

BMisstatements arising from misappropriations of assets

CBoth A & B

DNeither A nor B

Show Suggested Answer

Suggested Answer: B

by Jutta at Dec 05, 2024, 07:06 AM

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Yolando

7 days ago

Hmm, let's see... I think the answer has to be C. It just makes sense that both fraudulent financial reporting and asset misappropriation would be relevant to the auditor's consideration of fraud. Gotta cover all the bases, you know?

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Eden

11 days ago

I'm not sure, but I think misstatements relevant to fraud can only arise from fraudulent financial reporting.

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Jerry

24 days ago

I agree with Alysa, misstatements can arise from both fraudulent financial reporting and misappropriations of assets.

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Alysa

25 days ago

I think the types of misstatements relevant to fraud are both A & B.

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