Hi,
If it is not the responsibility of the auditor to detect fraud, then why do the notes mention that auditors could be removed if they fail to detect a material fraud in the company's accounts and directors lose faith in them.
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Fraud and removal of auditors
13y ago#1The important word is 'material'. Auditors should detect material misstatement and a material fraud would be one such misstatement. However, auditors are not responsible for finding every small fraud or irregularity.
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