Both management and auditors have a responsibility for fraud risk management.

Name: Both management and auditors have a responsibility for fraud risk management.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Both management and auditors have a responsibility to manage fraud risk, with management having primary responsibility for designing and implementing internal controls to prevent and detect fraud, while auditors perform an independent review of those controls and assess the risk of material misstatement due to fraud.

Both Management and Auditors Have a Responsibility for Fraud Risk