Auditors provide "reasonable assurance" that the financial statements are "fairly stated, In all material respects". Questions are often raised as to be responsibility of the auditor to detect material misstatements, including misstatement, including misappropriate of assets and fraudulent financial reporting.

a. Discuss the concept of reasonable assurance and the degree of confidence that financial statement users should have in the financial statements.
b. what are the responsibilities or the independent auditor in ate audit of financial statement? Discuss fully, but in this part do not include fraud in the discussion.
c. What are the responsibilities of the Independent auditor for the detection of fraud involving misappropriation of assets and fraudulent financial reporting, Discuss fully, including your assessment of whether the auditors responsibility for the detection of fraud Is appropriate.

Answer rating: 100% (QA)

a Auditing standards states that reasonable assurance is a high level of assurance Therefore user of ... View the full answer