Auditors are responsible to detect fraud even if it has an immaterial effect on the financial statements.

Name: Auditors are responsible to detect fraud even if it has an immaterial effect on the financial statements.
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Question

Quizplus · Accepted Answer

Auditors primarily focus on detecting material misstatements in the financial statements, including those resulting from fraud, rather than identifying all instances of fraud, especially those with an immaterial effect on the financial statements.

Auditors Are Responsible to Detect Fraud Even If It Has