When comparing the auditor's responsibility for detecting employee fraud and for detecting errors,the profession has placed the responsibility
A)more on discovering errors than employee fraud.
B)more on discovering employee fraud than errors.
C)equally on discovering either one.
D)on the senior auditor for detecting errors and on the manager for detecting employee fraud.

Question

Quizplus · Accepted Answer

The profession places more responsibility on auditors for detecting errors rather than employee fraud. This is because errors are unintentional and can still have a material impact on the financial statements, whereas fraud is intentional and can be disguised to avoid detection. However, auditors are still required to perform procedures to detect employee fraud during their audits.

When Comparing the Auditor's Responsibility for Detecting Employee Fraud and for Detecting