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During an external audit, the audit team identifies evidence that management has Intentionally manipulated the...

ACFE CFE-Fraud-Prevention-and-Deterrence Full Course Access
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During an external audit, the audit team identifies evidence that management has Intentionally manipulated the organization ' s reported revenue amount However, the amount of the resulting misstatement does not meet the quantitative materiality threshold for the audit. Which of the following is TRUE regarding this situation?

A.

The auditors should reconsider the reliability of the audit evidence they have previously obtained.

B.

The auditors should assume that all audit evidence collected previously is unreliable and withdraw from the audit engagement.

C.

The auditors should only consider the evidence if they can determine that the actions meet the legal definition of fraud.

D.

The auditors should regard the misstatement as immatenal to the audit because the omitted amount is less than the quantitative materiality threshold

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