SOFE Exam SOFA-CFE Topic 2 Question 98 Discussion

Actual exam question for SOFE's SOFA-CFE exam

Question #: 98
Topic #: 2

Judgments about the risk of material misstatement due to fraud have an overall effect on how the audit is concluded in what ways?

AAssignment of personnel and supervision

BAccounting principles

CPredictability of auditing procedures

DAll of the above

Show Suggested Answer

Suggested Answer: D

by Dannette at Sep 13, 2024, 03:25 PM

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Van

6 months ago

Hmm, I'm torn between A and D. Maybe I should just roll a dice and hope for the best. Auditing is like a game of chance sometimes, isn't it?

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Lang

4 months ago

True, auditing can sometimes feel like a gamble.

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Vicky

4 months ago

I think it's important to consider all aspects when making a decision.

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Valentin

5 months ago

D) All of the above

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Lavina

5 months ago

A) Assignment of personnel and supervision

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Georgene

6 months ago

Yes, and it can influence the overall conclusion of the audit.

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Glen

6 months ago

D, hands down. Fraud is like a bad case of the flu - it infects the whole audit process. Better bring the hand sanitizer!

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Lawana

6 months ago

B is the answer, no doubt. Accounting principles are the foundation, fraud or no fraud. Everything else is just window dressing.

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Mollie

6 months ago

I'm going with C. The predictability of the audit is key when dealing with fraud. Gotta keep the bad guys on their toes!

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Annice

6 months ago

I agree, it also impacts the predictability of auditing procedures.

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Laine

6 months ago

Definitely D. Fraud risk affects the entire audit approach, from staffing to procedures. Can't believe they're even considering the other options.

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Francesco

5 months ago

Absolutely, it's important to have a comprehensive approach to dealing with fraud risk in audits.

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Norah

5 months ago

Assigning the right personnel and closely supervising them is key in addressing fraud risk.

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Jessenia

5 months ago

It's crucial to consider all factors when assessing the risk of material misstatement due to fraud.

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Gladys

6 months ago

I agree, fraud risk really does impact every aspect of the audit process.

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Pearlene

6 months ago

It's crucial to consider all aspects when assessing the risk of material misstatement due to fraud.

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Val

6 months ago

I agree, fraud risk really does impact everything in the audit process.

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Cordelia

6 months ago

I think judgments about fraud risk affect assignment of personnel.

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