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This implementation tool for auditors helps you identify, assess, and respond to the presumed risk of material misstatement (ROMM) due to fraud in revenue recognition. If an appropriate response to the assessed risks is not designed and implemented, the auditor may not have sufficient appropriate audit evidence to conclude whether the financial statements are materially misstated.
- CAS 240 and its requirements
- an approach to identifying, assessing and responding to the ROMM due to fraud in revenue recognition
- illustrative examples
- a list of other resources about fraud in an audit of financial statements