The factor that distinguishes an error from fraud or other irregularities is
A)materiality.
B)intent.
C)whether it is a dollar amount or a process.
D)whether it is a caused by the auditor or the client.

Question

Quizplus · Accepted Answer

The factor that distinguishes an error from fraud or other irregularities is intent. Errors are unintentional mistakes, whereas fraud involves intentional misrepresentation or deception. Other irregularities also involve intentional actions, such as noncompliance with laws and regulations or conflicts of interest. Materiality relates to the significance of a misstatement in financial statements, while the nature of the error (dollar amount or process) and who caused it (auditor or client) do not necessarily distinguish it from fraud or other irregularities.

The Factor That Distinguishes an Error from Fraud or Other