Why Is Fraud Detection an Important Part of the Audit

question 30

Multiple Choice

Why is fraud detection an important part of the audit?

• A)Auditors are required to seek out and find all fraud,regardless of its magnitude.
• B)Auditors expect that management will make them aware of any fraud in the financial statements.
• C)Society expects that financial statements have not been materially misstated due to fraud.
• D)Society realizes that some fraud was not intended to be discovered by auditors.