Describes considerations to smaller less complex entities, Accounting Basics

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Describes considerations to smaller less complex entities

Problem

As a new auditor, you are working on a small entity with limited complexities. You are aware that the professional standards provide guidance regarding the identification of fraud risks. In particular, the standards address the characteristics of the entity which may be used to evaluate the risk of material misstatement due to fraud. Identify the GAAS paragraph which describes considerations specific to smaller, less complex entities.

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Accounting Basics: Describes considerations to smaller less complex entities

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