Fraud Risk Discussions ISA 240 requires auditors to perform specific procedures as part of the normal risk assessment procedures during audit planning to obtain information relevant to identifying risks of material misstatement, due to fraud. Included in these procedures is a requirement to make enquiries of management and those charged with governance regarding fraud-related considerations. Auditors frequently include very limited evidence of these required discussions on the audit file, with only brief comments by the party interviewed and no further, or inadequate, audit considerations of whether these comments indicate the presence of potential fraud risks that demand further response. [...]