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AU Section 110 of Statement on Auditing Standards (SAS) No. 1, Codification of Auditing Standards and Procedures, as amended by this Statement [appendix A] (AICPA, Professional Standards, vol. 1, AU sec. 110, "Responsibilities and Functions of the Independent Auditor"), states that "The auditor has a responsibility to plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether caused by error or fraud." This Statement provides guidance to auditors in fulfilling that responsibility, as it relates to fraud, in an audit of financial statements conducted in accordance with generally accepted auditing standards.
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Auditing -- Standards -- United States; Fraud; Financial statements -- United States
Accounting | Taxation
American Institute of Certified Public Accountants. Auditing Standards Executive Committee, "Consideration of fraud in a financial statement audit" (1997). Statements on Auditing Standards. 86.