CPA Aud Quiz
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PERFORMING FURTHER PROCEDURES AND OBTAINING EVIDENCE
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During an audit of an issuer, anomaly detection on related-party indicators flags multiple payments to a vendor that shares an address with a member of management, and the payments were coded to miscellaneous expense with limited description; the amounts are individually below performance materiality but frequent. The issue affects related-party disclosures, expense classification, and fraud risk. Which action should the auditor take based on the data analytics results?
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