Staff Auditor Mock Interview

Practice 25 Staff Auditor interview questions covering risk assessment, compliance testing, and audit methodology.

Question 20 of 25

In an audit, who is primarily responsible for the prevention and detection of fraud?

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Ryan Brown created and launched MockQuestions in 2008.

According to auditing pronouncement AU-C Section 240, the client's management is primarily responsible for detecting fraud and preventing it in the first place by having effective internal controls. An auditor must conduct an audit in accordance with GAAS (generally accepted auditing standards). However, given the limitations of an audit, there is an inherent risk that not all material misstatements will be detected.

Ryan Brown

Ryan Brown created and launched MockQuestions in 2008.

"Ultimately, it is the client's management that is responsible for preventing and detecting fraud within their organization. They can achieve this by implementing effective internal controls and committing to a culture of honesty and ethical behavior. As auditors, we are responsible for conducting our audit in accordance with generally accepted auditing standards. However, there will always be an inherent risk that the limitations of an audit prevents us from detecting all material misstatements."

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