You have obtained employment in the accounting firm of Dickens and Partners as an Audit Assistant. You have heard that the firm is not very modern in its approach. On the first day at work, Mr Dickens calls you into his office and hands you a copy of Auditing: A Practical Manual for Auditors by Lawrence Dicksee, published by Gee and Co. of London in 1900..

The partner proudly claims ‘This is the Bible of auditing.’ You open the book (after blowing the dust off the cover) and read the following statement on page 7:. The detection of fraud is a most important portion of the auditor’s duties. Auditors, therefore, should assiduously cultivate this branch of their activities. From your limited audit knowledge, this does not appear to be ‘current practice’.

Required 

Write a brief memo to the audit partner, Mr Dickens, discussing major changes that have occurred in the objectives of auditing since the publication of Dicksee’s book in 1900.