Auditors are responsible to detect and correct errors when they are:
A) Material
B) Material or immaterial
C) Due to an illegal act
D) Management fails to correct for the error

Question

Quizplus · Accepted Answer

Auditors are responsible for detecting and correcting material errors. Immaterial errors, while not requiring correction, should still be communicated to management to ensure the accuracy of financial statements. Illegal acts should also be reported, but the responsibility to correct them falls on management rather than the auditor. If management fails to correct a material error, the auditor should report it to the appropriate parties.

Auditors Are Responsible to Detect and Correct Errors When They