What are the responsibilities of the independent auditor for the detection of fraud involving misappropriation of assets and fraudulent financial reporting?
ASSIGNMENT 6-27 (OBJECTIVES 6-1, 6-3) Auditors provide “reasonable assurance” that the financial statements are “fairly stated, in all material respects.” Questions are often raised as to the responsibility of the auditor to detect material misstatements, including misappropriation of assets and fraudulent financial reporting.RequiredRequiredIn-class Discussion (2) Management and those charged with governance are responsible for ensuring […]