Where does the responsibility for preventing and detecting fraud rest?
A)With client management and those charged with governance
B)With the auditors
C)Solely with the CEO
D)Solely with the CFO

Question

Quizplus · Accepted Answer

The primary responsibility for preventing and detecting fraud rests with client management and those charged with governance, such as the board of directors. Auditors also have a responsibility to assess and respond to the risk of fraud, but they cannot be solely relied upon to prevent or detect fraud. It is not solely the responsibility of the CEO or CFO, as fraud prevention and detection involves the efforts of an entire organization.

Where Does the Responsibility for Preventing and Detecting Fraud Rest