Which of the following statements reflects an auditor’s responsibility for detecting errors and fraud?

By: Answerout

Here is the solution for Which of the following statements reflects an auditor’s responsibility for detecting errors and fraud?. The solution is given after the options.

Which of the following statements reflects an auditor’s responsibility for detecting errors and fraud?

An auditor is responsible for detecting employee errors and fraud, but not for discovering fraud involving employee collusion or management override.

An auditor should plan the audit to detect errors and fraud that are caused by departures from GAAP.

An auditor is not responsible for detecting errors and fraud unless the application of GAAS would result in such detection.

An auditor should design the audit to provide reasonable assurance of detecting errors and fraud that are material to the financial statements.

Correct Answer

An auditor should design the audit to provide reasonable assurance of detecting errors and fraud that are material to the financial statements.

Explanation:

An auditor should design the audit to provide reasonable assurance of detecting errors and fraud that are material to the financial statements. is the answer for Which of the following statements reflects an auditor’s responsibility for detecting errors and fraud?

Conclusion:

are provided by Answerout to teach the newcomers in the Digital Marketing Industry. The answers provided are 100% correct and are solved by Professionals. We don’t and never have recommended using these answers as a cheat sheet. We keep updating our answers as the Exam Change. You can also send us an Email or Comment to notify us of any support or Changes.