1.Explain the role that auditing standards have with respect to the auditors exercising reasonable care and skill?

2.Outline the auditor's duties relating to the detection of fraud.

Responsibilities of the Auditor Under ASA 240

3.Explain why professional Indemnity Insurance is necessary?

4.Provide arguments FOR and AGAINST limiting an Auditors Liability.

5.Explain the relationship between the auditing standards and legal duties of an auditor established in the Pacific Acceptance Case