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SOFE Exam SOFA-CFE Topic 6 Question 90 Discussion

Actual exam question for SOFE's SOFA-CFE exam
Question #: 90
Topic #: 6
[All SOFA-CFE Questions]

Which type of misstatements are considered relevant fro audit purpose?

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Suggested Answer: C

by Bette at Jun 21, 2024, 09:51 AM

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Rana
8 months ago
Hmm, I'm going to have to go with 'C' on this one. I mean, who would even think that auditors wouldn't care about both financial fraud and asset theft? That's like the whole point of an audit!
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Catrice
7 months ago
I think 'C' is the right choice here, auditors can't afford to overlook either type of misstatement.
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Chanel
7 months ago
It's crucial for auditors to address both A and B to ensure the accuracy of financial statements.
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Kenneth
7 months ago
Definitely, auditors need to be on the lookout for both types of misstatements.
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Michal
8 months ago
I agree, both financial fraud and asset theft are important for auditors to consider.
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Carol
8 months ago
I don't know, guys. I feel like this is a trick question. What if the answer is actually 'Neither A nor B' and the auditors are supposed to look for something even shadier?
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Jamal
8 months ago
Wow, talk about a softball question. If you can't nail this one, you might as well just hand in a blank exam and save everyone the trouble.
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Sharen
7 months ago
I think it's C) Both A and B because both types of misstatements are relevant for audit purposes.
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Carisa
7 months ago
C) Both A and B
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Ryan
7 months ago
A) Misstatements arising from fraudulent financial reporting
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Tashia
7 months ago
C) Both A and B
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Anglea
8 months ago
B) Misstatements arising from misappropriation of assets
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Rickie
8 months ago
A) Misstatements arising from fraudulent financial reporting
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Kiera
8 months ago
C) Both A and B
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Javier
8 months ago
A) Misstatements arising from fraudulent financial reporting
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Effie
9 months ago
I see your point, but I still think only misstatements from fraudulent financial reporting are truly relevant for audit purposes.
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Aileen
9 months ago
But what about misstatements arising from misappropriation of assets? Don't you think those are important too?
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Effie
9 months ago
I disagree, I believe only misstatements arising from fraudulent financial reporting are relevant.
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Matthew
9 months ago
Honestly, if you can't figure out that options A and B are the correct answers, you might want to consider a career change. Auditing is clearly not your forte.
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Yolande
9 months ago
I mean, come on, it's not rocket science. If the auditors aren't looking at both financial shenanigans and physical asset theft, they're not doing their job properly.
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Jillian
9 months ago
C) Both A and B
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Jeannine
9 months ago
B) Misstatements arising from misappropriation of assets
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Lura
9 months ago
A) Misstatements arising from fraudulent financial reporting
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Aileen
9 months ago
I think the relevant misstatements for audit purpose are both A and B.
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Alline
9 months ago
Well, duh! Of course both fraudulent financial reporting and asset misappropriation are relevant for audit purposes. You can't just ignore half the shady stuff companies try to pull.
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Misty
8 months ago
C) Both A and B
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Barabara
9 months ago
B) Misstatements arising from misappropriation of assets
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Charlena
9 months ago
A) Misstatements arising from fraudulent financial reporting
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