The auditor of financial statements has a responsibility to actively consider fraud in order to obtain reasonable assurance that financial statements are free of material fraud.

Question

Quizplus · Accepted Answer

According to auditing standards, auditors have a responsibility to actively consider the risk of fraud and obtain reasonable assurance that the financial statements are free from material misstatement, including fraud. Therefore, the statement is true.

The Auditor of Financial Statements Has a Responsibility to Actively