Define fraud and explain the extent of the responsibility of an external auditor regarding prevention and detection of fraud.?

Question added by Frank Mwansa , ACCOUNTING LECTURER , FREELANCER
Date Posted: 2023/05/07

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by hashim mohammed , Accountant , ALNILE BANK FOR COMMERCE AND DEVELOPMENT

fraud is any activity that relies on deception in order to achieve a gain

the external auditors play as gatekeeper therefore must be identification of risks of material misstatement due to fraud

Define fraud and explain the extent of the responsibility of an external auditor concerning prevention and detection of fraud. ?
Top Answer: Fraud is any deliberate act of deception intended to achieve personal gain or cause financial loss to ano ... See More

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Role of auditors is preventing detecting and reporting fraud?
Top Answer: Auditor role will be finding the way to maximize the company resources by the way of Find the mistake whe ... See More

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Explain how the external auditors can utilize work performed by internal auditors in the process of audit?
Top Answer: <p>By best judging the effectiveness of system and parameters followed like random audit of the wor ... See More

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Can you explain why the external auditors are interested in corporate governance?
Top Answer: according for the direct meeting and the relation between the position and the corporates people and fina ... See More

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