Auditors must consider the possibility of fraud by employees or management on every audit engagement. They must
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Question:
Auditors must consider the possibility of fraud by employees or management on every audit engagement. They must also consider the possibility that the client has not complied with laws.
(a) Distinguish between employee and management fraud.
(b) Describe the auditors' responsibility for the detection of fraud in an audit.
(c) Describe the auditors' responsibility regarding noncompliance with laws by a client.
Expert Answer:
Answer a Employee fraud is dishonest actions by lower level employees that occur w... View the full answer
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