Which of the Following Statements Best Describes the Auditor's Responsibility

question 18

Multiple Choice

Which of the following statements best describes the auditor's responsibility regarding the detection of fraud?

• A)The auditor must extend auditing procedures to actively search for fraud.
• B)The auditor is responsible for the failure to detect fraud only when an unmodified auditor's opinion is issued.
• C)The auditor is responsible for fraud when such failure results from non-performance of procedures described in the engagement letter.
• D)The auditor must plan the audit so as to have a reasonable expectation of discovering material fraud.

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Definitions:

Social Care Program

An organized approach to addressing customer inquiries, feedback, and support needs through social media channels.

Crisis

A critical or tumultuous situation that requires immediate attention and action to mitigate its effects.

Crowdsourcing

The practice of collecting information, asking for assistance, and reaching out to the community for help to solve a problem or address an opportunity online in a centralized space.

Crowdfunding

The practice of raising money online with the help of social media community outreach and advocacy efforts in small and large donations.