An audit manager has led the audit of Garnet Ltd for the last three years....
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Accounting
An audit manager has led the audit of Garnet Ltd for the last three years. Evidence of a fraud involving the falsification of supplier invoices and the purchasing of goods for personal use to a significant value has been found. Senior management within Garnet are implicated.
Discuss the extent to which the external auditor should be criticised for not discovering this fraud.
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