Practice Quiz

Forensic Accounting

Category - Specialized Forensic Knowledge

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What is the first step in identifying and evaluating financial statement violations?
  1. Preparation of financial statement
  2. Financial statement investigation
  3. Preparation of statement of owner’s equity
  4. All of the above
Explanation
Answer: B - Financial statement investigation is the first step in identifying and evaluating financial statement violations. The other investigations relate to preliminary financial statement investigations. After a preliminary financial statement investigation is conducted, subsequent methods are employed to identify any financial statements violations.
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