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Forensic Accounting

Category - Fundamental Forensic Knowledge

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If a practitioner accepts an engagement, but does not possess the required skill-set, then it creates:

Ambiguity
Sense of denial
Room for other practitioners to report on the matter
Self-interest threat

Explanation

Answer: D - In such a case, a self-interest threat takes the center-stage. Before accepting the engagement, it is important to overcome all the threats including self-interest, which can limit professional competency and objectivity.

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Forensic Accounting

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Forensic Accounting

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