Question: Auditing standards do not require auditors of financial statements to a. Understand the nature of errors and frauds. b. Assess the risk of occurrence of

Auditing standards do not require auditors of financial statements to
a. Understand the nature of errors and frauds.
b. Assess the risk of occurrence of errors and frauds.
c. Design audits to provide reasonable assurance of detecting errors and frauds.
d. Report all errors and frauds found to police authorities.

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