審計學(xué)一種整合方法第12版英文版Chapter11

1、11 - 1Fraud AuditingChapter 11Learning Objective 1Define fraud and distinguishbetween fraudulent financialreporting and misappropriationof assets.Types of Fraud Fraudulent financial reporting Misappropriation of assetsLearning Objective 2Describe the fraud triangle andidentify conditions for fraud.T

2、he Fraud TriangleIncentives/PressuresOpportunitiesAttitudes/RationalizationExamples of Risk Factorsfor Fraudulent Reporting Financial stability or profitability is threatened byeconomic, industry, or entity operating conditions Excessive pressure exists for management tomeet debt requirements Person

3、al net worth is materially threatenedIncentives/Pressures:Examples of Risk Factorsfor Fraudulent Reporting There are significant accounting estimates thatare difficult to verify There is ineffective oversight over financialreporting High turnover or ineffective accounting internalaudit, or informati

4、on technology staff existsOpportunities:Examples of Risk Factorsfor Fraudulent Reporting Inappropriate or inefficient communicationand support of the entitys values is evident A history of violations of laws is known Management has a practice of makingoverly aggressive or unrealistic forecastsAttitu

5、des/Rationalization:Examples of Risk Factorsfor Misappropriation of Assets Personal financial obligations create pressureto misappropriate assets Adverse relationships between managementand employees motivate employees tomisappropriate assetsIncentives/Pressures:Examples of Risk Factorsfor Misapprop

6、riation of Assets There is a presence of large amounts of cashon hand or inventory items There is an inadequate internal control overassetsOpportunities:Examples of Risk Factorsfor Misappropriation of Assets Disregard for the need to monitor or reducerisk of misappropriating assets exists There is a

7、 disregard for internal controlsAttitudes/Rationalization:Learning Objective 3Understand the auditorsresponsibility for assessingthe risk of fraud and detectingmaterial misstatements due tofraud.Assessing the Risk of FraudSAS 99 provides guidance to auditorsin assessing the risk of fraud.SAS 1 state

8、s that, in exercising professionalskepticism, an auditor “neither assumes thatmanagement is dishonest nor assumesunquestioned honesty.”Sources of Information Gatheredto Assess Fraud RisksCommunicationamong audit teamInquiries ofmanagementRiskfactorsAnalyticalproceduresOtherinformationIdentified risk

9、s of material misstatements due to fraudDocumenting Fraud Assessment Discussion Specific risks Procedures Reasons Results Other conditions Nature of communicationsLearning Objective 4Identify corporate governanceand other control environmentfactors that reduce fraud risks.Corporate Governance Oversi

10、ghtto Reduce Fraud Risks1. Culture of honesty and high ethics2. Managements responsibilityto evaluate risks of fraud3. Audit committee oversightExample Elements for a Code of Conduct Organizational code of conduct General employee conduct Conflicts of interest Outside activities, employment, and dir

11、ectorshipsExample Elements for a Code of Conduct Relationships with clients and suppliers Gifts, entertainment, and favors Kickbacks and secret commissions Organization funds and other assetsExample Elements for a Code of Conduct Organization records and communications Dealing with outside people an

12、d organizations Prompt communications Privacy and confidentialityOrganizational Factors Contributing to Risk of Fraud200319981994Collusion betweenemployees andthird partiesInadequateinternalcontrolsManagementoverride ofinternal controls483133395859313636Organizational Factors Contributing to Risk of

13、 FraudCollusion betweenemployees andmanagementLack of controlover managementby directorsIneffective ornonexistent ethics orcompliance program1519231211 610 8 7200319981994Learning Objective 5Develop responses to identifiedfraud risks.Responding to the Risk of FraudChange the overall conduct of the a

14、uditto respond to identified fraud risks.Design and perform audit proceduresto address identified risks.Design and perform procedures toaddress the risk of managementoverride of controls.Learning Objective 6Recognize specific fraud riskareas and develop proceduresto detect fraud.Rates of Fraud Occur

15、rence20031998Theft of assets4922Check fraud4026Expense accountabuse3613Credit card fraud2013Payroll fraud12 3Rates of Fraud Occurrence20031998Conflict of interest12 9Inventory theft1111Kickbacks 9 6Financial reportingfraud 7 3Specific Fraud Risk Areas Inventory fraud risks Revenue and accounts recei

16、vable fraud risks Purchases and accounts payable fraud risks Other areas of fraud riskLearning Objective 7Understand interview techniquesand other activities after fraudis suspected.Methods of Uncovering FraudInternal controlsInternal auditNotification by employeeAccidentAnonymous tipNotification by customerNotification by regulatory or law enforcement agencyNotification by vendorExternal audit7765635441341916125143583735411611 4524751282634 815 5(Percentages)2003 1998 1994Responding to Misstatements That May Be the Result of FraudWhen fraud is suspected, the auditor gathersadditional i