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summary about the subject of occupational fraud. Association of Certified Fraud Examiners (ACFE) 2016.

summary about the subject of occupational fraud. Association of Certified Fraud Examiners (ACFE) 2016.

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Answer #1

In general misstatement of financial statement can arise from either fraud (or) error there the fraud is a brode legal concept while auditing,

The auditor should be concerned with fraud that causes a material misstatement in the financial statement.

The primary responsibility for the preparation and detection of fraud rests with both those charged with governance of the entity and management

For such founds, auditor while conducting audit should obtain reasonable always that the financial statements taken on a whole are free from material misstable whether caused by farced (or) error.

The impact of fraud on business shows on international perception of the doer.so reasonable aswhere should be asked by auditor otherwise he should modify his opinion

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