n SA Mercantile Law Journal = SA Tydskrif vir Handelsreg - The auditor's legal responsibilities in the detection of fraud
|Article Title||The auditor's legal responsibilities in the detection of fraud|
|© Publisher:||Juta Law Publishing|
|Journal||SA Mercantile Law Journal = SA Tydskrif vir Handelsreg|
|Publication Date||Jan 2010|
|Pages||541 - 567|
|Keyword(s)||University of Pretoria|
Auditors perform a very important function because they are the only independent examiners of corporate financial statements before they are released to the public. Audited financial statements are somewhat reassuring to interested parties who may well be tempted, on the strength of an unqualified audit report, to believe that they are true and fair in all material respects. When such financial statements are subsequently found to be materially misstated, auditors frequently get the blame for alleged misrepresentation. The perception that auditors are there to ensure the absolute correctness of financial statements is no doubt one of the major reasons for litigation against auditors.
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