Author Question: In connection with the audit of financial statements, an independent auditor could be responsible ... (Read 18 times)

am7272 · **on:** Aug 21, 2022

In connection with the audit of financial statements, an independent auditor could be responsible for failure to detect a material fraud if
◦ statistical sampling techniques were not used on the audit engagement.
◦ the auditor planned the audit in a negligent manner.
◦ accountants performing important parts of the work failed to discover a close relationship between the treasurer and the cashier.
◦ the fraud was perpetrated by one employee who circumvented the existing internal controls.

butterfly17 · **Reply #1 on:** Aug 21, 2022

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