CAQ Issues Publication on External Auditors’ Responsibilities Related to Illegal Acts and Fraud

The Center for Audit Quality (CAQ) has released a publication Illegal Acts: The External Auditor’s Responsibilities.

The report discusses “the external auditor’s responsibilities with respect to illegal acts under PCAOB auditing standards” and “how the auditor’s responsibility to identify and detect a material financial statement misstatement due to fraud differs from the auditor’s responsibilities related to illegal acts.”