AS 2401 forces auditors to assume fraud could be happening and design tests accordingly. It’s a proactive, not reactive, standard.
đźš© AS 2401 presumes there is a risk of fraud in: pcaob as 2401
The standard mandates that auditors maintain an attitude of throughout the entire audit. This involves a questioning mind and a critical assessment of audit evidence, regardless of the auditor’s prior belief in management's honesty. Key procedural requirements include: AS 2401 forces auditors to assume fraud could
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