Auditors are responsible to detect all illegal acts committed by the company and its employees.

Question

Quizplus · Accepted Answer

Auditors are responsible for detecting material misstatements in financial statements, not all illegal acts committed by the company and its employees. They may also report illegal acts to appropriate authorities, but their primary responsibility is to ensure the accuracy and completeness of financial reporting.

Auditors Are Responsible to Detect All Illegal Acts Committed by the Company