Fraud Responsibility

Question 1

ISA 240 the auditors responsibilities relating to fraud in an audit of financial statements

Answer 1

Are responsible for obtaining reasonable assurance that the financial statement as a whole are free from material misstatement, whether caused by fraud or error.

Question 2

Fulfil responsibility

Answer 2

Required to identify and assess the risk of material misstatement of financial statement due to fraud.

Question 3

Obtain

Answer 3

sufficient appropriate audit evidence regarding the assessed material misstatement due to fraud,

Through designing and implementing appropriate responses

Question 4

When obtaining reasonable assurance

Answer 4

Maintaining professional scepticism through out audit