The Auditing Standard No$.5($AS $5)$ calls for a specific fraud assessment because

Select one:

A$.$ Failure to detect fraud through regular transactions in an organization remains the highest risk.

B$.$ Fraud within an organization remains the most serious threat to the economic well$-$being of society.

C$.$ Of the financial scandals of the late twentieth century; there is now an obligation to detect fraud. $$

D$.$ The failure to prevent or detect fraudulent misstatements is higher than the risk of failing to prevent or detect other types of errors.