Expanded Guidance For Auditor Fraud Detection Responsibilities
- Topics:
- Audits
- Tags:
- Auditor,
- Business Operations,
- Finance,
- Financial Accounting,
- Fraud,
- Litigation,
- New York State Society Of Certified Public Accountant
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Overview: From the executive summary: ‘Auditors focus on activities that result in materially misstated financial statements. Intent determines whether such activities are fraudulent or due to error. Two types of misstatements are relevant to auditors’ consideration of fraud: the ones arising from fraudulent financial reporting, and the others arising from misappropriation of assets. In addition to incentives, pressures, and opportunities, many forensic auditors consider rationalization a key element: Some persons’ attitudes or ethical values allow them to knowingly and intentionally perpetrate fraud. Furthermore, even fundamentally honest persons can rationalize committing fraud under intense pressure.’ The paper discusses the audit fraud detection responsibilities.
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Format: HTML | Date: Jan 2003 | Pages: 1
