Required Communications
Examples of Procedures Performed
17. Our Responsibility Related to Fraud Wemust:
Discuss thoughts and ideas on where the financial statements might be susceptible to material misstatement due to fraud; Understand pressures on the financial statement results; Understand the tone and culture of the organization; Look for unusual or unexpected transactions, relationships, or procedures; Evaluate key processes and controls; Consider information gathered throughout the audit; and Apply professional skepticism
• Plan and perform the audit to obtain reasonable assurance that there is no material misstatement caused by error or fraud; • Comply with AU-C Section 240: Consideration of Fraud in a Financial Statement Audit; • Approach all audits with an understanding that fraud could occur in any entity, at any time, by anyone; and • Perform mandatory procedures required by GAAS and our firm policies.
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