Which of the following statement best describes an auditor's responsibility to detect errors and fraud? O The auditor should assess to the risk that errors and fraud may cause the design the audit to provide reasonable assurance of detecting material errors and irregularities. O The auditor should study and evaluate the clients internal control structure and design the audit to provide reasonable assurance of detecting all errors and fraud The auditor should assess the risk that errors and fraud may cause the financial statements to contain material misstatements and determine whether all necessary internal controls procedures are prescribed and followed satisfactorily. O The auditor should assess the risk that errors and fraud may cause the financial statements to contain material misstatements and design the audit to provide reasonable assurance of detecting material errors and irregularities