And the auditors are paid by the company that they audit.. For risk of material misstatement, not fraud. A fraudulent company can still pay an auditor a signifi

And the auditors are paid by the company that they audit.. For risk of material misstatement, not fraud. A fraudulent company can still pay an auditor a significant sum, and the auditor won't look for fraud, only material misstatement. It's the "audit expectations gap."