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| Author: | Ramos, M. |
| Title: | Auditor's Responsibility for Fraud Detection |
| Journal: | Journal of Accountancy
2003 : JAN, VOL. 195:1, p. 28-36 |
| Index terms: | AUDITORS RESPONSIBILITY ACCOUNTING AUDITING |
| Language: | eng |
| Abstract: | Auditors will enter a much expanded arena of procedures to detect fraud as they implement SAS no. 99. The new standard aims to have the auditor's consideration of fraud seamlessly blended into the audit process and continually updated until the audit's completion. SAS no. 99 describes a process in which the auditor (1) gathers information needed to identify risks of material misstatement due to fraud, (2) assesses these risks after taking into account an evaluation of the entity's programs and controls and (3) responds to the results. Under SAS no. 99, you will gather and consider much more information to assess fraud risks than you have in the past. |
SCIMA