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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AAA Exams › Lark & Co Dec 11 (Kaplan new kit pg 68)
Re. Part ai) of the Q – Fraud
required: assess the ethical & professional issues raised by client’s request to investigate the alleged fraudulent activity
Given that recent audit was conducted by our firm issuing an unmodified opinion (given in question)
Query: I reasoned that one issue raised would be that if the fraud is proved & is likely to be material (it was indicative that it was) our firm may be questioned for auditor’s liability since it wasn’t detected in our latest audit and we gave a reasonable assurance that the FS are free form MM whether caused by fraud & error.
In the answer none of this was mentioned. Is it that irrelevant to point it out?
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There was a Q Lark & Co in June 2012 exam but it did not have this requirement. I cannot comment on adaptations of Qs & As by Approved content providers.