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What role did the Fraud auditor play in the subprime mortgage crisis of 2008?

What role did the Fraud auditor play in the subprime mortgage crisis of 2008?

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Answer #1

There is a main role of auditor in fraud of suprime mortage crissis of 2008.

Subprime mortage crisis due to the lack of exactness while making the fair value measurement .

It is the duty of the auditor to check the compliances with establishing interal conrol procedures by examining

records, reports, operating practices and documentation.

Verifies assets and liabilities by comparing items of documentation .

Auditor helps the company to manupulate the accounts.

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