In connection with the audit of financial statements, an independent auditor could be responsible for failure to detect a material fraud if

Question

Quizplus · Accepted Answer

The auditor is responsible for planning and executing the audit in a manner that provides reasonable assurance that material misstatements, including fraudulent financial reporting, are detected. If the auditor fails to plan or execute the audit appropriately, it would be considered negligent and could lead to a failure to detect material fraud. The other answer choices do not necessarily relate to the auditor's responsibility for detecting fraud.

In Connection with the Audit of Financial Statements, an Independent