Considering that approximately 1.6 million nonprofits are registered in the US, and that the nonprofits contribute more than one trillion dollars to the US economy, besides independent auditing, the importance of agencies known as watchdogs is also emerging.
In today's world, everything is developing rapidly and has great effects on our lives, of course, every good technology adds value to our lives, but creates certain results depending on how it is used.
The fraud triangle stems from Cressey’s hypothesis stated in his book, Other People's Money that: “Trusted persons become trust violators when they conceive of themselves as having a financial problem which is non-sharable, are aware this problem can be secretly resolved by violation of the position of financial trust,
Possible audit procedures to address the assessed risks of material misstatement (RMM) due to fraud
November 1, 2022by Cengiz Karakas
Possible audit procedures to address the assessed risks of material misstatement (RMM) due to fraud The auditor has three main purposes when evaluating fraud in a financial statement audit; First, identifying and assessing the risk of material misstatement of the financial statements due to fraud, second, obtaining sufficient and appropriate evidence of fraud by designing...
Fraud Risk Considerations
October 19, 2022by Cengiz Karakas
The fraud refers to intentional misrepresentations regarding financial information by one or more individuals among management, employees or third parties.
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