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 errors and employee fraud.
D) on the senior auditor for detecting errors and on the manager for detecting employee fraud.

Question

Quizplus · Accepted Answer

The auditing profession views the responsibility for detecting errors and employee fraud as equal, emphasizing the auditor's general responsibility to design their audit to detect material misstatements, whether due to fraud or error.

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