Question
Frequently, questions have been raised regarding the responsibility of the independent auditor for the discovery of fraud (including defalcations and other similar irregularities) and concerning
Frequently, questions have been raised regarding the responsibility of the independent auditor for the discovery of fraud (including defalcations and other similar irregularities) and concerning the proper course of conduct of the independent auditor when his or her examination discloses specific circumstances that arouse suspicion about the existence of fraud.
Required
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What are (1) the function and (2) the responsibilities of the independent auditor in the examination of financial statements? Discuss fully, but do not include fraud in this discussion.
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What are the responsibilities of the independent auditor for the detection of fraud and other irregularities? Discuss fully.
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What is the independent auditors proper course of conduct when his or her examination discloses specific circumstances that arouse his or her suspicion as to the existence of fraud and other irregularities?
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