2- Extract from “CPA in the Black” Auditor's responsibility to detect fraud Based on different rules and regulations provided by the Australian accounting standard board, auditors are not essentially required to identify fraud associated with a particular organization. On the other hand, they are required to detect a material misstatement that can result in fraud or caused by fraud. It is the responsibility of the auditor to identify such material misstatement and communicate such statements as internal and external stakeholders. Detection of fraud can be undertaken by the stakeholders based on information provided by auditors (Umar, Erlina and Fauziah, 2019). Inquiry with individuals Following are some of the individuals or group of people that are required to be communicated by the auditor- Audit committee- The purpose of developing the audit committee is to identify problems associated with financial statements. Internal auditors- Auditors can easily identify the main areas of problem associated with the financial statements of a company with the help of communication with internal auditors. Accountants and accounting department- This communication will help to identify the general Framework used by the accounting department for the development of financial statements. Management representative- Representative of management such as chief executive officer should also be communicated to identify the general assumptions or frameworks used for conducting general operations. Conclusion On the overall conclusion of this report, it can be said that some various roles and responsibilities are required to be performed by the auditor. This is because numerous stakeholders such as the shareholders and creditors are dependent on the opinion provided by auditors to take their investment decisions. Based on analysing the statement prepared within the Antipa Minerals annual report in the year 2019, it can be said that financial statements are providing Clear View of operations in the company for the year under consideration. References Bendickson, N.J., Hammer, B. and Ross, P.E., 2018. Drive excellence: auditing fleet safety process to manage risk. Antipa Minerals annual report Professional Safety, 63(02), pp.30-35. Jones, P., 2017. Statistical sampling and risk analysis in auditing. Taylor & Francis. Knechel, W.R. and Salterio, S.E., 2016. Auditing: Assurance and risk. Taylor & Francis. Turker, I. and Bicer, A.A., 2020. How to Use Blockchain Effectively in Auditing and Assurance Services. In Digital Business Strategies in Blockchain Ecosystems (pp. 457-471). Springer, Cham. Umar, H., Erlina, E. and Fauziah, A., 2019. Audit Quality Determinants And The Relation Of Fraud Detection. International Journal of Civil Engineering and Technology, 10(3). William Jr, M., Glover, S. and Prawitt, D., 2016. Auditing and assurance services: A systematic approach. Antipa Minerals annual report McGraw-Hill Education.
Subject Name: Audit
Level: Undergraduate
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