- 6 Marks
AA – May 2016 – L2 – Q3c – Professional and Ethical Considerations
This question explores the different responsibilities of internal and external auditors in the prevention, detection, and reporting of fraud and error.
Question
(c) There are similarities and differences between the responsibilities of internal and external auditors. Both internal and external auditors have responsibilities relating to the prevention, detection, and reporting of fraud, for example, but their responsibilities are not the same.
Required:
Explain the difference between the responsibilities of internal auditors and external auditors for the prevention, detection, and reporting of fraud and error. (6 marks)
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