The Auditor’s Responsibility for Fraud Detection

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Oct 19, 2022

In October, the Securities and Exchange Commission (SEC) released this speech by Paul Munter, Acting Chief Accountant.

In this Statement, they (1) discuss the auditor’s responsibilities with respect to fraud, including observations of some auditor shortcomings; (2) highlight how the auditor’s responsibilities are incorporated currently in the PCAOB standards, including the PCAOB’s quality control standards; and (3) provide reminders on good practices.

Review the full speech on the SEC's website.

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