The auditor should perform risk assessment procedures that are sufficient to provide a reasonable basis for identifying and assessing the risks of material misstatement, whether due to error or fraud, and designing further audit procedures.
The auditor should perform risk assessment procedures that are sufficient to provide a reasonable basis for identifying and assessing the risks of material misstatement, whether due to error or fraud, and designing further audit procedures.
The Association of Certified Fraud Examiners (ACFE) created the Report to the Nations, which is a global study of occupational fraud and abuse. This report captures data on real fraud cases and explores the true cost, tactics, victims, and perpetrators of fraud schemes.