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

Misappropriation of asset by deliberately of any key personal.

External auditors not absolute responsiblity,however he can advise control measures and assert methods for prevention and detection of fraud

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