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

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Question added by Frank Mwansa , ACCOUNTING LECTURER , FREELANCER
Date Posted: 2023/05/07
showkat showkat ahmad kambay
by showkat showkat ahmad kambay , Internal Auditor , Gulf cooperation symbols contracting co., ltd

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

hashim mohammed
by hashim mohammed , Accountant , ALNILE BANK FOR COMMERCE AND DEVELOPMENT

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

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