BA592T053FraudSAS99080805
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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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BA592T053FraudSAS99080805


Fraud

SAS 99


Print off

SAS 99


Auth. Stds for Auditorsof Nonissuers


Who resp. for fraud?


Resp:PreventDeterDetect


FraudError


Intent!


NOT Legal!


Two types ofMisstmts


1. Fr. fin. rptg


2. Misappr. of Assets


FraudTriangle/Diamond

  • Rationalize/Attitude

  • Incentive/Pressure

  • Opportunity

  • Capability


Mgmt:

Override!


Collusion


EA:

Assess Fraud Risk!


Response to FR

(3ways)


1. Overall


Specifically Idedrisks


Mgmt Override of Controls(esp. mgmt judgments)


Respondingto Fraud!


imMaterial and lower level employee


If involves Sr. Mgmt

(M or imM)

Then, A.C.!!


If M:

w/draw?

To A.C.!!


Other considerations:

integrity of mgmt?

attitude of BofD, mgmt?


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