
Auditing and Assurance Services 1st Edition by Iris Stuart
Edition 1ISBN: 978-0073404004
Auditing and Assurance Services 1st Edition by Iris Stuart
Edition 1ISBN: 978-0073404004 Exercise 35
Which of the following statements reflects an auditor's responsibility for detecting misstatements due to errors and fraud a. An auditor is responsible for detecting employee errors and simple fraud, but not for discovering fraud involving employee collusion or management override.
B) An auditor should plan the audit to detect misstatements due to errors and fraud that are caused by departures from the applicable financial reporting framework.
C) An auditor is not responsible for detecting misstatements due to errors and fraud unless the application of GAAS would result in such detection.
D) An auditor should design the audit to provide reasonable assurance of detecting misstatements due to errors and fraud that are material to the financial statements.
B) An auditor should plan the audit to detect misstatements due to errors and fraud that are caused by departures from the applicable financial reporting framework.
C) An auditor is not responsible for detecting misstatements due to errors and fraud unless the application of GAAS would result in such detection.
D) An auditor should design the audit to provide reasonable assurance of detecting misstatements due to errors and fraud that are material to the financial statements.
Explanation
The audit is the process of checking the...
Auditing and Assurance Services 1st Edition by Iris Stuart
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