Which of the following is true regarding auditors and fraud?
A)Auditors are required to detect all fraud during an audit.
B)Auditors should actively investigate the possibility of fraud if suspicious circumstances exist.
C)In the Kingston Cotton Mill case, it was said that the audit role was not primarily to detect fraud.
D)b and c are true.

Question

Quizplus · Accepted Answer

Auditors are not required to detect all fraud, but they should investigate if there are suspicious circumstances. The Kingston Cotton Mill case established that the primary role of an audit is not to detect fraud.

Which of the Following Is True Regarding Auditors and Fraud