Question: BAC 2664 2110 Auditing Tutorial 3 Q Question 1: Distinguish between the terms errors and fraud. What is the auditor's responsibility for finding each? Question

BAC 2664 2110 Auditing Tutorial 3 Q Question 1: Distinguish between the terms errors and fraud. What is the auditor's responsibility for finding each? Question 2: Explain what is the difference between fraudulent financial reporting and misappropriation of assets. In your opinion, how can these type of fraud happens? Question 3: Explain the meaning of cycle approach to audit (and provide one example) and list down all major accounting cycles that we used in audit. Question 4: Distinguish between the management's and auditor's responsibility for the financial statements being audited. Question 5: Discuss the reasons why auditors are responsible for reasonable but not absolute or low level of assurance. Question 6: List any two (2) powers and duties of auditors in accordance to section 266 of the Companies Act 2016

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BAC 2664 2110 Auditing Tutorial 3 Question ID 26055017 Question 1 Distinguish Between Errors and Fraud Definition Errors Mistakes in financial statements that are unintentional Examples include miscal... View full answer

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