Week 3 - Detection Risk Challenges Flashcards
(3 cards)
1
Q
What is the first challenge of detection risk - what could go wrong?
A
Inadequate testing of key areas (not enough, not detailed enough)
2
Q
What is the second challenge of detection risk - what could go wrong?
A
Being misled by management because of incomplete knowledge of the business
3
Q
What is the third challenge of detection risk - what could go wrong?
A
Failing to identify areas where frauds could be committed
