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BA592T053FraudSAS99080805

BA592T053FraudSAS99080805. Fraud. SAS 99. Print off. SAS 99. Auth. Stds for Auditors of Non issuers. Who resp. for fraud?. Resp: Prevent Deter Detect. Fraud  Error. Intent!. NOT Legal!. Two types of Misstmts. 1. Fr. fin. rptg. 2. Misappr. of Assets. Fraud Triangle/Diamond.

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BA592T053FraudSAS99080805

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  1. BA592T053FraudSAS99080805

  2. Fraud SAS 99

  3. Print off SAS 99

  4. Auth. Stds for Auditorsof Nonissuers

  5. Who resp. for fraud?

  6. Resp:Prevent Deter Detect

  7. FraudError

  8. Intent!

  9. NOT Legal!

  10. Two types ofMisstmts

  11. 1. Fr. fin. rptg

  12. 2. Misappr. of Assets

  13. FraudTriangle/Diamond • Rationalize/Attitude • Incentive/Pressure • Opportunity • Capability

  14. Mgmt: Override!

  15. Collusion

  16. EA: Assess Fraud Risk!

  17. Response to FR (3ways)

  18. 1. Overall

  19. Specifically Idedrisks

  20. Mgmt Override of Controls(esp. mgmt judgments)

  21. Respondingto Fraud!

  22. imMaterial and lower level employee

  23. If involves Sr. Mgmt (M or imM) Then, A.C.!!

  24. If M: w/draw? To A.C.!!

  25. Other considerations: integrity of mgmt? attitude of BofD, mgmt?

  26. Document X

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