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

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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.