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ang359 ang359
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A year ago
Which of the following statements best describes the auditor's responsibility regarding the detection of fraud?

▸ The auditor is responsible for the failure to detect fraud only when such failure clearly results from nonperformance of audit procedures specifically described in the engagement letter.

▸ The auditor is required to provide reasonable assurance that the financial statements are free of both material errors and fraud.

▸ The auditor is responsible for detecting material financial statement fraud, but not a material misappropriation of assets.

▸ The auditor is responsible for the failure to detect fraud only when an unqualified opinion is issued.
Textbook 
Auditing and Assurance Services

Auditing and Assurance Services


Edition: 17th
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sillysquirrelsillysquirrel
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A year ago
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ang359 Author
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