This is an Auditing subject

You have been employed as the audit assistant in the accounting rm of Mika and Partners. You were informed that the rm is not very modern in its audit approach. On your rst day Of work, Mr Mika, one of the audit partners, calls you into his oce and hands over a copy of 'A Practical Manual for Auditors' handbook that has been used by the rm since 1990. Mr Mika proudly claims that 'this is the main reference handbook for auditing'. You open the handbook and read the following statement on page 15: . . . the detection afaud, all errors and unlaagd acts committed lzy the audit client is the responsibilig) of an auditor. Based on your audit knowledge, this does not appear to be the current practice as stipulated under ISA 240 The Auditor's Responsibilities Relating to Fraud in an Audit of Financial Statements. You are aware that auditing is conducted in accordance with professional standards, and an auditor is responsible for obtaining reasonable assurance that the - ' I \"statements are free from material misstatements, whether caused by error or - discussing the audit objectives and an auditor's responsibilities '-_- -= ted under ISA 240