SEC Chief Accountant Addresses Auditors' Responsibility for Fraud Detection.

"Auditors should continually reassess fraud risks throughout the audit, including when evaluating the audit results and determining whether they themselves have obtained sufficient appropriate audit evidence." These include areas of concern regarding fraud identified in Public Company Accounting Oversight Board (PCAOB) inspections as well as recent SEC enforcement cases involving improper professional conduct by auditors with respect to fraud risks. [Extracted from the article]