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Fraud And Error. Auditors' Responsibility Levels


  • Dan Stirbu

    (West University of Timisoara)

  • Maria Moraru

    (West University of Timisoara)

  • Nicoleta Farcane

    (West University of Timisoara)

  • Rodica Blidisel

    (West University of Timisoara)

  • Adina Popa

    (Eftimie Murgu University from Resita)


Are auditors responsible for detecting fraud in the companies they inspect? Most ofthe public thinks they are. Auditors often demur. The auditors' duties for the prevention, detectionand reporting of fraud, other illegal acts and errors is one of the most controversial issues inauditing. This paper reports the findings of a survey that explores the financial report users’perceptions on the extent of fraud in Romania and their perceptions of auditors’ responsibilities indetecting fraud and the related audit procedures. This study also finds that there is a widely heldmisperception of the objective of an audit. This is because, among respondents, a much higherexpectation has been placed on the auditors' duties in detecting and reporting fraud than statute oraudit standards require. The results of the study show unquestionably the existence, with respect todetection of fraud, of a gap between the perception of the respondents and the present statutoryrequirements of auditors.

Suggested Citation

  • Dan Stirbu & Maria Moraru & Nicoleta Farcane & Rodica Blidisel & Adina Popa, 2009. "Fraud And Error. Auditors' Responsibility Levels," Annales Universitatis Apulensis Series Oeconomica, Faculty of Sciences, "1 Decembrie 1918" University, Alba Iulia, vol. 1(11), pages 1-5.
  • Handle: RePEc:alu:journl:v:1:y:2009:i:11:p:5

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    More about this item


    fraud; auditors’ responsibilities; audit expectation gap;

    JEL classification:

    • M42 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Auditing


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