Short Essay Answers (5 percent each): Select and answer one…

Short Essay Answers (5 percent each): Select and answer one prompt and one prompt only below for each chapter. Three to four sentences are sufficient. Chapter 5: 1. Why is materiality one of the most difficult judgments to make in auditing financial statements?

Chapter 5: 2. Explain each of the three sides of the fraud t…

Chapter 5: 2. Explain each of the three sides of the fraud triangle with respect to how it contributes toward the possibility that fraud in the financial statements may be present. Are there differences with respect to how each element might influence occupational fraud and fraudulent financial statements? Explain.