159 paragraphs found
For the purposes of this Auditing Standard, the following terms have the meanings attributed below: …
Fraud means an intentional act by one or more individuals among management, those charged with governance, employees, or third parties, involving the use of deception to obtain an unjust or illegal …
Fraud risk factors means events or conditions that indicate an incentive or pressure to commit fraud or provide an opportunity to commit …
(Ref: Para. A26 ) The fraud risk factors identified in this Appendix are examples of such factors that may be faced by auditors in a broad range of situations. Separately presented are examples relating to the two types of fraud relevant to the auditor’s …
(Ref: Para. A41 ) The following are examples of possible audit procedures to address the assessed risks of material misstatement due to fraud resulting from both fraudulent financial reporting and misappropriation of assets. Although these procedures …
(Ref: Para. A50 ) The following are examples of circumstances that may indicate the possibility that the financial report may contain a material misstatement resulting from fraud. Discrepancies in the accounting records, including: Transactions that are …
Management incentive plans may be contingent upon achieving targets relating only to certain accounts or selected activities of the entity, even though the related accounts or activities may not be material to the entity as a …
The auditor shall evaluate whether analytical procedures that are performed near the end of the audit, when forming an overall conclusion as to whether the financial report is consistent with the auditor’s understanding of the entity, indicate a …
Fraud, whether fraudulent financial reporting or misappropriation of assets, involves incentive or pressure to commit fraud, a perceived opportunity to do so and some rationalisation of the act. For example: Incentive or pressure to commit fraudulent …
Maintaining professional scepticism requires an ongoing questioning of whether the information and audit evidence obtained suggests that a material misstatement due to fraud may exist. It includes considering the reliability of the information to be used …