When comparing the auditor's responsibility for detecting employee fraud and for detecting errors, the profession has placed the responsibility:
A) equally on discovering either one.
B) on the senior auditor for detecting errors and on the manager for detecting employee fraud.
C) more on discovering errors than employee fraud.
D) more on discovering employee fraud than errors.

Question

Quizplus · Accepted Answer

The auditing profession considers the responsibility for detecting employee fraud and errors to be equal, as auditors are expected to design their audits to reasonably assure that both are detected if they exist in material amounts.

When Comparing the Auditor's Responsibility for Detecting Employee Fraud and for Detecting