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Unformatted text preview: Fraud, unfortunately is a fact of life. Sometimes the fraud is committed by management and sometimes by non-management. All in all, the fraudster's intent is not to get caught. To that end, if the auditor's responsiblity is to verify the accounts in the financial statements, is it there responsibility to detect or uncover fraud? Why/Why not? Student answer #1 David Dang In today's society, Fraud is on the uprise and many companies are involved with it. It's just sad that a company or business could not make their money from legally operating their business, but to come to fraud as in cooking the books or making things appear when they shouldn't be there vice versa. As an auditor, it is the responsibility of their job to unravel the fraud that goes on in the company. The company may be presenting fraudulent material to the company that would increase their image and income. By being an auditor, you must know exactly what is fraudulent material to the company that would increase their image and income....
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This note was uploaded on 11/05/2011 for the course ACCOUNTING 101 taught by Professor Online during the Spring '11 term at Colorado Technical University.
- Spring '11