Economics · Auditing
In relation to fraud prevention and detection, what objective should external auditors have in designing and implementing their audit procedures?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1To verify pre-determined samples without evaluating overall risk assessment
- 2To provide a systematic check and absolute verification of every recorded transaction
- 3The identification of every single inconsistency or error within the financial records
- 4A reasonable prospect of detecting material misstatements due to fraud or error✓
Correct answer
A reasonable prospect of detecting material misstatements due to fraud or error
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