DETECTING AND REPORTING THE FRAUDS AND ERRORS BY THE AUDITOR
Journal Title: Annales Universitatis Apulensis series Oeconomica - Year 2009, Vol 11, Issue 1
Abstract
Responsibility for preventing and detecting fraud rest with management entities. Although the auditor is not and cannot be held responsible for preventing fraud and errors, in your work, he can have a positive role in preventing fraud and errors by deterring their occurrence. The auditor should plan and perform the audit with an attitude of professional skepticism, recognizing that condition or events may be found that indicate that fraud or error may exist. Based on the audit risk assessment, auditor should develop programs to audit procedures by which to obtain reasonable assurance that the financial statements in their entirety, all significant errors and fraud have been identified. It is expected that the auditor to implement procedures that will lead to the discovery of errors or fraud without significant impact on the financial statements can not be held responsible for undetected such irregularities. The auditor should communicate with the management of his client. He should ask the management information concerning any significant fraud or error has been detected in order to detect key problems that could lead to certain activities, the implementation of audit procedures more than usual However the auditor faces the risk inevitable that some significant errors to be detected, even if the audit is planned and done properly.
Authors and Affiliations
Ovidiu Bunget, Alin Dumitrescu
Keywords
Related Articles
- EP ID EP91785
- DOI -
- Views 116
- Downloads 0
CONTROVERSIES ON INTEGRATED ACCOUNTING SYSTEM
: Integrated solution for enterprise information system is the ideal solution to optimize the flow of financial and accounting information The effort to collect, process and disseminate information is high and time consu...
ROMANIAN COMPULSORY MOTOR THIRD PARTY LIABILITY INSURANCE IN 2010 AND THE PREDICTABLE FUTURE
Insurance coverage is mandatory for the motor’s owners. Analyzing the condition of the insurance market trough 2010, by the gross written insurance premiums and the losses compensations in the same period, the study an...
GLOBALIZATION AND POVERTY IN ROŞIA MONTANĂ
Globalization is a concept that, for the past decades, carried on dreadful fears, as well as great expectations. Defined as a process of global intercommunication and interconnection of economical, political, cultural fo...
THE COMPOSITION AND STRUCTURE OF FINANCIAL REPORTING - SIMILARITIES AND DIFFERENCES IN THE CASE OF AIR TRANSPORT COMPANIES
This report presents three components of annual financial statements – Balance Sheet, Profit and Loss Statement and Statement of Cash Flows - in terms of national and international accounting regulations as a source of i...
DETERMINATION OF USERS SATISFACTION LEVEL REGARDING THE QUALITY OF E-SERVICES PROVIDED BY “BOGDAN-VODĂ” UNIVERSITY
The results of researches present in the specialized literature emphasize that the evaluation of both e-services and traditional services is based on the customers’ individual experiences. This paper presents a study co...