If some frauds are deemed common, should auditors be held liable if they do not find a common fraud? Why or why not?© BrainMass Inc. brainmass.com March 4, 2021, 7:58 pm ad1c9bdddf
Yes, an auditor should be held liable for not detecting a common fraud because he is bound by ethical principles of his profession to report any detectable fraudulent activity in an organization, no matter how minuscule it might seem at a surface level.
Suppose that a business development manager in a printer manufacturing company uses official telephone for private purposes, say calling ...
This solution explains why an auditor should be held liable for not detecting a common fraud, addressing ethical principles and fraudulent activity.