Which of the Following Statements Reflects an Auditor's Responsibility for Detecting

question 31

Multiple Choice

Which of the following statements reflects an auditor's responsibility for detecting fraud?

• A)An auditor is not responsible for discovering fraudulent acts involving employee collusion.
• B)The audit should be planned to detect only fraud caused by departures from GAAP.
• C)An auditor is only responsible for detecting fraudulent financial reporting.
• D)An auditor should design the audit to provide reasonable assurance of detecting errors and fraud that are material to the financial statements.

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Definitions:

Potassium

is a chemical element with symbol K, vital for cell function and a key electrolyte in the body.

Coronary artery disease

A condition characterized by the narrowing or blockage of the coronary arteries due to plaque buildup, leading to reduced blood flow to the heart.

Atherosclerosis

The accumulation of fatty deposits along the inner walls of arteries.