Response to the following problem:
An auditing guideline has been published on the auditors' responsibility in relation to fraud and the irregularities and errors (February 1990).
You are required to write an essay in which you consider the extent to which an auditor should be responsible for detecting fraud and other irregularities when auditing the accounts of limited company.
Your essay should:
1) Briefly outline the apcs(auditing practices committee) view as expressed in the auditing guideline ,and the extent to which an auditor is responsible for detecting irregularities and froud.
2) Consider the extent to which it would be reasonable to extent the auditor responsibilities beyond that suggested by apc and the practical problems of extending the auditors responsibilities.
Reach a conclusion on and provide a definition of the extent to which you consider it reasonable for an auditor to be responsible for detecting irregularities and fraud.