The Case Titled "Expectations for Professional Judgment by Auditors to Detect

Multiple Choice

The case titled "Expectations for Professional Judgment by Auditors to Detect Fraud" suggests that:

A) Fraud is a common element of audits.
B) Auditors always detect fraud if they follow professional standards.
C) Even an audit in accordance with professional standards can fail to detect a material fraud in the financial statements, particularly where management has gone to great lengths to cover up the fraud.
D) Auditors should not be expected to uncover fraud since management always has the upper hand with respect to financial statement matters.