Towards a New and more Effective Consideration of Fraud in a Financial Statement Examination

So what do I suggest if I think the triad of fraud “guidance” is a crock? Good question. In an accounting/auditing engagement, what would I recommend as guidance in considering the risk of fraud?

First, I would create at least 2 major and wholly independent categories of fraud.

  1. Material, willful, financial statement fraud
  2. Isolated personal fraud

For the complete story and all the others on this blog, visit Amazon and search for “Tales From The Trenches,” available after August 31st, 2020.

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This entry was posted on May 10, 2013 and is filed under Fraud and Embezzlement. Written by: . You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.