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9 Cards in this Set

  • Front
  • Back
Assessment Inquiry
Inquiry to corroborate or contradict prior information obtained
Earnings Management
Deliberate actions taken by management to meet earnings objectives
Fraud Risk Factors
Entity factors that increase the risk of fraud
Fraud Triangle
Represents the three conditions of fraud: incentives/pressures, opportunities, and attitudes/rationalization
Income Smoothing
Form of earnings management in which revenues and expenses are shifted between periods to reduce fluctuations in earnings
Informational Inquiry
Inquiry to obtain information about facts and details the auditor does not have
Interrogative Inquiry
Inquiry used to determine if the interviewee is being dceptive or purposefully omitting disclosure of key knowledge of faces, events, or circumstances
Premature Revenue Recognition
Recognition of revenue before GAAP requirements for recording revenue have been met
Professional Skepticism
An attitude of the auditor that neither assumes management is dishonest nor assumes unquestioned honesty