AUDITOR'S RESPONSIBILITY BSA-3A

It refers to unintentional misstatements in the financial statements, including the omission of an amount or a disclosure.

• Mistake

• Error

• Fraud

• Negligence

It refers to intentional act by one or more individuals among management, employees, or third parties which results in misrepresentation of financial statements.

• Plagiarism

• Fraud

• Stealing

• Copying

The auditor’s responsibility is to design the audit to provide _____ assurance of detecting material misstatements in the financial statements.

An Auditor should obtain a general understanding of a legal and regulatory framework to an entity?

• Planning Phase

• Reporting Phase

• Compilation Phase

• Testing Phase

_____ is also known as "NOCLAR"

Responsibility to prevent and detect illegal acts

• Responsibility of employees

• Responsibility of CEO

• Responsibility of Management

• Responsibility of an Auditor

The Fraud Triangle is developed by a well-known criminologist

• Donald R. Cline

• Donald R. Cressey

• Donald R. Trump

• Donald R. Duck

Arises when money related situations are causing you stress or pressure

• Financial Pressures

• Vice Pressures

• Work Related Pressures

• Other Pressures

The worst kind of pressure to commit fraud

• Financial Pressures

• Vice Pressures

• Work Related Pressures

• Other Pressures

This risk factor is most likely to be committed by the company management that is why it is also called as management fraud

• Fraudulent Financial Reporting

• Misappropriation of Assets

• Tax evasion