Monday, December 08, 2008

Dealing with a suspected fraud

BookValue
The Auditor’s Responsibilities Relating to Fraud in an Audit of Financial Statements
( http://www.icai.org/ )

Reporting fraud

When the auditor has obtained evidence that fraud exists or may exist, what should he do? He must bring the matter to the attention of the appropriate level of management as soon as possible, says the Standard on Auditing (SA) 240 (Revised) titled The Auditor’s Responsibilities Relating to Fraud in an Audit of Financial Statements.

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