13. Professional auditing standards outline the auditor's consideration of material misstatements due to errors

and fraud . (a) What responsibility does an auditor have to detect mate material misstatements due to errors and

fraud? (b) What two main categories of fraud affect financial reporting? (c) What types of factors should

auditors consider when assessing the likelihood of material misstatements due to fraud?

14. Several misstatements were identified as a result of the fraud perpetrated by CUC management. (a) For each

misstatement identified, indicate one management assertion that was violated. (b) For each misstatement

identified, indicate one audit procedure the auditor could have used to detect the misstatement