Advanced Auditing

Advanced Auditing

Advanced Auditing KHALID AZIZ

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Topics for discussion today Preliminary engagement activities Planning process Overview Risk and materiality Audit strategy & audit plan Going concern & factual insolvencySubsequent Events Fraud, AP Act (if time available)Reporting (if time available)March 2010 *Advanced Auditing Lecture 1

Advanced Auditing Lecture 1

Preliminary Engagement Activities References:ISA 220 Quality Control for Audits ISQC 1 Quality Control for FirmsISA 210 Agreeing the terms of audit engagements

Objectives of Preliminary Engagement Activities Related to client the acceptability of a new client OR Consider the ability to continue as auditors for existing clients Provision of a quality audit Regulatory and ethical considerations

19 February 2009*Advanced Auditing

Advanced Auditing

Preliminary Engagement Activities Why perform Preliminary Engagement Activities ?Limitation of auditors risks by not accepting unsatisfactory clients Firms professional reputation could suffer Negative publicity (lawsuits; client failures) Types of risks faced by auditor Legal liability Against the firm because of company failures (= audit failures) Reputational damage Because of being associated with a particular client


Advanced Auditing

Preliminary Engagement ActivitiesStep 1: Perform a Client Investigation Consider: Independence of Auditor Overriding requirement of a statutory audit Threats to independence IFAC Code of Ethics

Consider: Integrity of Client Matters to consider includeBusiness reputation of owners and management Nature of operations Attitude of management regarding interpretation of accounting standards


Advanced Auditing

Preliminary Engagement ActivitiesStep 1: Perform a Client Investigation Consider: Integrity of Client Matters to consider include Attitude towards keeping audit fee as low as possible Indications of limitations of scope of audit work Illegal activities of client Reasons for non-reappointment of previous auditor

Consider: Changes to Existing Client Refer above


Advanced Auditing

Preliminary Engagement ActivitiesStep 1: Perform a Client Investigation Consider: Communication with previous auditor In terms of IFAC Code of Ethics Informed of intention to replace?Permission to discuss client?Has clients permission been obtained to discuss client? No?

Consider: financial responsibility of client Ability and willingness to pay audit fee?

Consider: legal procedures in respect of the engagementDoes a vacancy exist? 19 February 2009*Advanced Auditing

Advanced Auditing

Preliminary Engagement ActivitiesStep 2: Determine the auditors skills and competence requirements Does the firm has the necessary capabilities, competencies, time, and resources? Considerations Knowledge of industryExperience of relevant regulatory or reporting requirements (or able to obtain such skills) Sufficient personnel with required skills and competencies Experts available (if needed) Able to meet the audit deadline


Advanced Auditing

Preliminary Engagement Activities Step 3: Establish the terms of engagement Confirmation of relationship Contractual relationship Removal of any misunderstandingCopy of letter to be filed in working papers Reference: ISA 210 Engagement Letters Refer to Appendix 1 for example of an engagement letter


Advanced Auditing

Planning: An Overview Obtaining an understanding of the entity, including internal controls Assessing the risk of material misstatement in the financial statements Determining materiality Establishing the overall audit strategy &Developing the audit plan March 2010 Advanced Auditing Lecture 1 *


Audit Risk and Materiality AUDITING NOTES:Chapter 7. Important Elements of the Audit Process- Concept of Materiality and Audit Risk.

SAICA HANDBOOK:ISA 240: The Auditors responsibilities relating to fraud in an audit of financial statements. ISA 315: Identifying and assessing the risks of material misstatement through understanding the entity and its environment. ISA 320: Materiality in planning and performing an audit. ISA 330: The Auditors responses to assessed risks. ISA 450: Evaluation of misstatements identified during the auditISA 510: Initial audit engagements opening balances. ISA 520: Analytical Procedures.11 Feb 2010*Advanced Auditing

Advanced Auditing

Audit Risk : the auditors objective Identify and assess risks of material misstatement High, Medium, Low Risk may be due to FRAUD (ISA 240) or ERROR 2 Levels of risk Financial Statement level AND Assertion level How?By obtaining an understanding of entity and its environment, including internal control Why?Provides a basis for designing and implementing responses to assessed risks of material misstatement 11 Feb 2010Advanced Auditing *

Advanced Auditing

Audit Risk Definition of Audit Risk The risk that the auditor expresses an inappropriate audit opinion when the annual financial statements are materially misstated Audit Risk is a function of the risks of material misstatement (IR & CR), and Detection Risk (Ref: Glossary of Terms) Risk-based auditing

11 Feb 2010*Advanced Auditing

Advanced Auditing

ISA 315 Identification of risks Obtaining an understanding of the entity and its environment, including Internal Control

Assessing identified risks Evaluating whether the risks relate more pervasively to the AFS as a whole Relating the risks to what can go wrong at the assertion level Considering the likelihood of misstatement, and possible magnitude of the misstatement

11 Feb 2010Advanced Auditing *

Advanced Auditing

ISA 315 Significant Audit Risks Risk of fraud Risk related to significant economic, accounting, or other developments that require specific attention Complex transactions Significant transactions with related parties Degree of subjectivity Transactions outside normal course of business for entity 11 Feb 2010Advanced Auditing *

Advanced Auditing

ISA 315 Where auditor revises assessment of Audit RiskWhere assessment changes during the audit Revision of assessmentModification of audit procedures

Documentation required Discussions between audit team Key elements of understanding Identified risks FS level Assertion level


Advanced Auditing

ISA 315 The link between ISA 315 and Audit Risk?A failure to identify factors that may give rise to the risk of material misstatement (and a failure to respond to such risks) Increase in audit risk Failure to understand The entity and its environment The accounting system and internal control systems


Advanced Auditing

The Client Risks Inherent Risk Built-in risk that exists before internal controls are put in place!!!Risks related to specific type of industry and type of client Develop assessment by gaining understanding of entity and its environment (A17 A41) Industry, regulatory and external factors Nature of entity Objectives and strategies, and related business risks Financial performance of entity


Advanced Auditing

The Client Risks Control Risk A66 Evaluation of design of control involves considering whether control is capable of effectively preventing, or detecting and correcting, material misstatements. Implementation of a control means that the entity is using it No point in testing a control if it is not designed properlyA67Risk assessment procedures Enquiry of personnel Observing the applicable controls Inspecting reports and documentation Tracing transactions i.e. Walk-through


Advanced Auditing

The Client Risks Control risk Control activities Control environment NB!!! E.g. Management override The entitys risk assessment process The information system Control activities Monitoring of internal controls Essential to evaluate the effect of the identified weaknesses (in system) on the financial statement assertions 11 Feb 2010*Advanced Auditing

Advanced Auditing

The Auditors Risk Detection risk Risk that the auditor will not detect a misstatement that exists and could be material Risk that is inherent in the clients operations and IS NOT addressed by the clients control system Detection risk is a function of the effectiveness of the auditors audit procedures 11 Feb 2010*Advanced Auditing

Advanced Auditing

The Auditors Risk Detection risk Detection risk may arise because Inappropriate audit procedure Misapplication of a procedure Misinterpretation of the results of a procedure There is an INVERSE relationship between risk of material misstatement [IR & CR] and Detection Risk


Advanced Auditing

Assessing risk at two levels At financial statement levelWill potentially affect many assertions Factors that may affect audit risk at the financial statement level Management's integrity Manipulation of AFS to meet their own needs Managements experience and knowledge Errors in AFS Pressure on management Many business failures in industry Need to raise loans


Advanced Auditing

Assessing risk at two levels At financial statement levelFactors that may affect audit risk at the financial statement level (cont.)Nature of entitys business Factors affecting the industry ( going concern problems) Economic conditions Consumer demand for companys products Need to consider how these factors will impact on the AFS


Advanced Auditing

Assessing risk at two levels 11 Feb 2010Advanced Auditing *At financial statement level responding to risks Assigning staff with appropriate skills and experience More supervision of staff Professional scepticism Elements of unpredictability in selecting items to test, and in the performance of the work Adjustment of nature, timing, and extent of audit procedures more substantive in nature Use of experts (complex & judgmental areas)

Advanced Auditing

Assessing risk at two levels At financial statement level responding to risks Going concern risks more discussions with management, audit committee Focusing procedures on high risk areas Consideration of whether to continue with the audit 11 Feb 2010Advanced Auditing *

Advanced Auditing

Assessing risk at two levels At assertion levelRisk at financial statement level trickles down, and becomes risk at the assertion level E.g. Poor management integrity

Factors that may affect audit risk at the assertion level Susceptibility of an account to misstatement Complexity of transactions Degree of judgement involved Susceptibility of assets to loss or misappropriation Complex and unusual transactions (at year-end) Transactions not subjected to routine processing 11 Feb 2010*Advanced Auditing

Advanced Auditing

Audit Risk Events and conditions that may indicate risks of material misstatement Appendix 2 of ISA 315Do NOT learn off by heart Understand and be able to identify in a question Know how to respond to the identified risk


Advanced Auditing

ISA 330 Auditors responses to risks Design and performance of further audit procedures to obtain sufficient, appropriate audit evidence

Nature, timing and extent of further procedures are based on, and are responsive to the assessed risks of material misstatement at assertion level Tests of controls Substantive procedures (AR, Tests of Detail) Ref: ISA 330 Application and Other Explanatory Material


Advanced Auditing

ISA 330 Auditors responses to risks Evaluating the sufficiency and appropriateness of the audit evidence gathered Based on audit procedures performed, and evidence gathered Need to conclude on whether assessments of risk of material misstatement at assertion level remain appropriate Does the evidence corroborate or contradict the assertions in the AFS 11 Feb 2010Advanced Auditing *

Advanced Auditing

Risk of Material Misstatement: Fraud Misstatement of AFS is INTENTIONAL

Responsibility for prevention and detection of fraud Lies with management and those charged with governance Commitment to culture of honesty Consider potential for override of controls

Responsibility of auditorTo obtain reasonable assurance that AFS are free of material misstatement through error or fraud


Advanced Auditing

Risk of Material Misstatement: Fraud Ability of auditor to detect fraud depends on factors such as Skill of perpetrator Frequency and extent of manipulation Degree of collusion Size of amounts Seniority of those involved More difficult to detect management fraud


Advanced Auditing

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Risk of Material Misstatement: Fraud Auditors requirements Professional scepticismIrrespective of past experience with client Discussion with audit team Risk assessment procedures 11 Feb 2010Advanced Auditing *

Advanced Auditing

Materiality References ISA 320 Materiality in Planning and Performing an Audit ISA 450 - Evaluation of Misstatements Identified During an Audit

Audit report Auditors opinion on whether or not the AFS are materially misstated

AFS will contain a margin of uncertainty Where misstatement > acceptable margin of uncertainty Affects users decisions based on AFS Misstatement becomes MATERIAL 11 Feb 2010*Advanced Auditing

Advanced Auditing

Materiality The nature of materiality It is subjectiveProfessional judgement is required It is relative E.g. Coca Cola vs. the corner cafe The balance sheet vs. the income statement It is qualitative and quantitative Qualitative Where an amount > amount set as material Quantitative Judged against a factor other than an amount E.g. Important disclosure that is omitted 11 Feb 2010*Advanced Auditing

Advanced Auditing

Setting of materiality 11 Feb 2010Advanced Auditing *Auditor must consider and set materiality during the Planning stage of the audit Planning Stage Assess the risk of materiality misstatement AND consider planning materiality Formulate an audit plan Nature, timing, and extent of audit procedures

Advanced Auditing

Planning Materiality 11 Feb 2010Advanced Auditing *The relationship between planning materiality and audit risk Inverse relationship Higher audit risk Set materiality lower in order to compensate for this Lower audit risk Set materiality higher Chance of material misstatement going undetected is lower Inverse relationship between audit risk and materiality Impact on nature, timing and extent of audit procedures The risk of material misstatement will have a direct impact on setting of planning materiality levels

Advanced Auditing

Planning Materiality It is a benchmark against which to measure quantitative misstatements

Considerations Amount of misstatement Quantitative Nature of misstatementQualitative 2 Levels at which materiality is considered Overall level Individual level 11 Feb 2010*Advanced Auditing

Advanced Auditing

Planning materiality Exam technique when calculating materiality Stability of indicators which figures to use Budget or actual Budgeted figures will these figures be achieved? Un-audited figures of current year whole years figures? Prior year audited figures Balance sheet or Income Statement Consider the nature of the business Which would be most appropriate ? Look at activity on B/S and I/S. Who are the users? Would they use the I/S or the B/S mostly? 11 Feb 2010Advanced Auditing *

Advanced Auditing

Planning materialityExam technique when calculating materialityCalculation E.g. use of DP6 Conclusion Do not leave materiality in a range need a number!! Where it is a high risk audit be conservative Examples Incentive to overstate assets and understate liabilities Possible Going Concern Risks related to particular assets, liabilities etc Risks related to the accounting system 11 Feb 2010*Advanced Auditing

Advanced Auditing

Planning materiality Quantitative indicators of materiality E.g. DP6 Turnover - 1% Gross profit 1 2%Net income 5 10% Total assets 1 2% Equity 2 5% Will calculate upper and lower limits of materiality Using lower limit more conservative level of materiality detection of more errors 11 Feb 2010*Advanced Auditing

Advanced Auditing

Planning materiality Qualitative indicators of materiality Consider when quantifying materiality Examples include Control environment Effectiveness of internal controls Integrity of management Appropriateness of accounting policies and the disclosure thereof Statutory requirements and regulations Problems and errors previous years Results of analytical procedures Possibility of illegal transactions 11 Feb 2010*Advanced Auditing

Advanced Auditing

Final Materiality Is established at the end of the audit Is the standard against which identified misstatements are measured, in order to determine the effect on the AFS Consider responsibilities in terms of reporting responsibilities (ISA 700) Conclusion required by ISA 700 takes into account auditors evaluation of unadjusted audit differences on the AFS (ISA 450)


Advanced Auditing

Final Materiality Planning Stage Assess the risk of materiality misstatement AND consider planning materiality Formulate an audit plan Nature, timing, and extent of audit procedures

Evaluation of misstatements Selected audit procedures are carried out on samples of the population e.g. debtors, sales, creditors Errors in samples Draw audit conclusions about the populations


Advanced Auditing

Final Materiality Process followed by auditor Analyse & project sample errors over the population If the projected misstatement is unacceptable Perform further tests OR Client to check population in detail for errors Discuss the misstatements with management correction of errors Refusal o correct errors unadjusted differences use of FINAL MATERIALITY to determine materiality of differences Misstatement is material more misstatement that acceptable qualification of audit opinion


Advanced Auditing

Final Materiality Why would the client refuse to correct misstatements Disagreement over whether is a misstatement E.g. estimate of inventory obsolescence is too low Misstatement not regarded as material I.e. Wont influence the user Ulterior motives E.g. loan covenant current ratio required Too much bother to make the changes Not concerned about receiving a qualified opinion11 Feb 2010Advanced Auditing *

Advanced Auditing

Evaluating Unadjusted Audit Differences Distinguish between Factual misstatement (known error)Able to substantiate with audit evidence E.g. sales invoices posted in wrong period Judgemental misstatement (likely error) Unable to specifically quantify and substantiate with evidence Level of subjectivity E.g. provision for doubtful debtsProjected misstatement I.e. Auditors best estimate of misstatement in a population Arises because of use of audit sampling 11 Feb 2010Advanced Auditing *

Advanced Auditing

Evaluating Unadjusted Audit Differences Considerations Ref: ISA 450 A16 examples Do not consider differences in isolation Aggregation of differences Trends identified e.g. understatement of provisions attempt to manipulate AFS?Effect of uncorrected differences related to prior periods Statutory or other contractual obligations Less likely to tolerate E.g. maintaining specific ratios in terms of a loan covenant 11 Feb 2010Advanced Auditing *

Advanced Auditing

Evaluating Unadjusted Audit Differences Considerations Nature of misstatement Error in principle VS misallocation of expense Difference arising out of dishonesty of director Subjective differences Impact of misstatement Assess impact on popular figures and ratios E.g. where difference affects EPS Absolute size and relative size of difference Absolute size e.g. R1,000,000 Size in relation to other account headings


Advanced Auditing

The Overall Audit Strategy 19 February 2009Advanced Auditing *Scope Client-specific issues and circumstances Number of locations / areas to visit Staff availability Travel and housing of audit staff Engagement team specifics Composition, experience, number QC requirements Use of CAATS Budgeting for the audit Audit time per section Audit fees, expenses

Advanced Auditing

The Overall Audit Strategy 19 February 2009Advanced Auditing *Scope Communication with entity Attending meetingsWritten reports required (and timing) Communication with third parties Previous audit experience Going concern Applicability of going concern assumption Issues affecting going concern assumption Previous audit findings and recommendationsExistence of related partiesUse of internal auditors, other auditors, experts

Advanced Auditing

The Overall Audit Strategy 19 February 2009Advanced Auditing *Timing Client dates e.g. inventory counts, reporting deadlines Timing of audit visits e.g. interim, final audit Reporting dates Direction I.e. areas requiring attentionE.g. Debtors

Advanced Auditing

The Audit Plan 19 February 2009Advanced Auditing *NatureTests of Control (combined approach) vs. Substantive procedures Impact of internal controls on substantive procedures Reliance is justified Nature more analytical Timing verification spread over year Extent Less Reliance is NOT justified Nature more detailed tests Timing at year-end Extent more

Advanced Auditing

The Audit Plan 19 February 2009Advanced Auditing *Timing I.e. when the procedures will be done Tests of control Performed to cover whole period of reliance Substantive procedures Performed to verify transactions and year-end balances Tight audit deadline Early verification and roll-forward procedures Extent Relates to number of items to be tested Greater reliance larger sample size Sufficient, appropriate audit evidence

Advanced Auditing

Going ConcernReferences:Jackson & Stent Chapter 15

Financial statements are normally presented on the going concern basisOperational existence For the foreseeable future No need to liquidate or curtail operations

Cash is King

March 2010 Advanced Auditing Lecture 1 *


Going Concern Managements responsibility to assess whether company has ability to continue as a going concern

Auditors responsibility Risk of expression of unqualified opinion where has been inappropriately applied Need to gather sufficient, appropriate evidence to support adoption (by management) of the going concern assumption



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The Audit Plan for Going Concern Consideration of going concern starts at the Planning Stage

Nature, timing and extent of procedures is determined by level of risk perceived by auditor Nature of testing Substantive evaluation of directors assessment of going concern Procedures Analytical procedures Confirmation of evidence provided Enquiry of personnel



The Audit Plan for Going Concern Timing of testing Need most up-to-date information At year-end In post balance-sheet period

Extent of testingDetermined by certainty of company to continue as a going concern March 2010 Advanced Auditing Lecture 1 *


Going Concern References: ISA 570 (Explanatory Notes)

Framework events and conditions that cast doubt on ability to continue as a going concern Financial indicators Operating indicators Other indicators March 2010 Advanced Auditing Lecture 1 *


Going Concern Mitigating factors Consideration of managements plans to return to going concern Specific and feasible Assumptions made by management Managements written representations to commit to plans March 2010 Advanced Auditing Lecture 1 *


Going Concern Audit conclusions Based on audit evidence gathered Does a material uncertainty exist regarding entitys ability to continue as a going concern? Yes Disclosure in AFS, else AFS dont fairly present the state of affairs of the company qualification of audit opinion March 2010 Advanced Auditing Lecture 1 *


Going Concern audit opinionMaterial uncertainty exists Disclosure made Emphasis of Matter para Inadequate disclosure, or failure to discloseDisagreement Except for or Adverse opinion Going concern is NOT appropriate Adverse opinion Unable to determine appropriate basisDisclaimer of opinion



Factual Insolvency i.e. Assets < Liabilities All are fairly valued

Matters for auditors attention Indicator of going concern problems Irregularities may take place March 2010 Advanced Auditing Lecture 1 *


Factual Insolvency Irregularities Where company is factually insolvent Greater risk of Common law fraud Reckless trading (S22 of Cos Act) If taking place Unlawful Act Rest of requirements for S45 RI? March 2010 Advanced Auditing Lecture 1 *


Subsequent Events Reference:ISA 560 Subsequent Events

Types of subsequent events Adjusting events Non-adjusting events Dividends Going concern March 2010 Advanced Auditing Lecture 1 *


Subsequent Events Auditors duties Between date of AFS and auditors report Identification of subsequent events Audit of subsequent events Between date of auditors report but before AFS are issued After AFS have been issued

Refer to page 17/15 March 2010 Advanced Auditing Lecture 1 *


Advanced Auditing *S45 Reportable Irregularities Reportable irregularityAn unlawful act or omission committed by Statutes, regulations, common law Any person responsible for the mgt of entity Has, or is likely to, cause financial loss to the entity, its partner, shareholder, creditor, investor OR Is fraudulent or amounts to theft OR Is a material breach of any fiduciary duty owed by the person to entity etc March/April 2009Advanced Auditing

Advanced Auditing

Advanced Auditing *March/April 2009Advanced Auditing S45 Reportable IrregularitiesThe individual registered accountant Is satisfied or has reason to believe that A reportable irregularity has / is taking place MUST Without delay Send a written report to the IRBA, with particulars MUST notify management within 3 days, and provide management with a copy of the report Within 30 days of sending report to IRBA Discuss report with management representations

Advanced Auditing

Advanced Auditing *March/April 2009Advanced Auditing S45 Reportable IrregularitiesSend another report to the IRBA No reportable irregularity has / is taking place OR Suspected RI is no longer taking place, and that steps have been taken to recover losses ORRI is continuing

Where RI is continuing Notify appropriate regulator ASAP Details of irregularity In writing Copy of report Regulator may carry out investigations as needed

Advanced Auditing

Advanced Auditing *Fraud Introduction Primary responsibility for prevention and detection of fraud (and error) rests with management and those charged with governanceGood control environment Risk assessment procedures Implementation, operation, and monitoring of IC system

Auditors responsibility Consider fraud when assessing risk of material misstatement Respond to assessed, identified, or suspected risk Able to express audit opinion at acceptable level of audit risk March/April 2009Advanced Auditing

Advanced Auditing

Advanced Auditing *Terminology ErrorUnintentional act which leads to misstatement of AFS

Fraud Intentional act, in order to obtain unfair illegal advantage Fraud may be committed by Management Those charged with governance Employees 3rd parties March/April 2009Advanced Auditing

Advanced Auditing

Advanced Auditing *Terminology Fraud risk factors Indicate an incentive or pressure to commit fraud, or provide an opportunity to commit fraud Management fraud Committed by member of management or person charged with management S45 implications Employee fraud Committed by employee NO S45 implications

March/April 2009Advanced Auditing

Advanced Auditing

Advanced Auditing *Terminology 2 Main categories of fraud Fraudulent financial reporting Intentional misstatements, including omissions deceive users Perpetrated by management Includes Falsification of accounting records Management override Misappropriation of assets Embezzlement Theft of physical assets, intellectual property Company pays for goods and services not received


Advanced Auditing

Advanced Auditing *Auditors Responsibilities Requirements in terms of ISA 240 Attitude of professional scepticismEven where management has previously acted with integrity Discussion amongst audit team Clients susceptibility to material misstatement due to fraud and error Obtain information identify risk of material misstatement due to fraud and error NB: consider whether any of the information obtained indicates whether any of the FRAUD RISK FACTORS are present March/April 2009Advanced Auditing

Advanced Auditing

Advanced Auditing *Auditors responsibilities Requirements in terms of ISA 240 Assess the risk of material misstatement due to fraud and error At FS levelAt assertion level Determine audit response to address the risk At FS level At assertion level March/April 2009Advanced Auditing

Advanced Auditing

Advanced Auditing *Auditors response to risk due to fraud At FS level Assignment and supervision of staff Consider accounting polices adopted by management Element of unpredictability in nature, timing and extent of audit procedures

At assertion level Impacts on nature, timing and extent of audit procedures ConsiderationsAttempts to conceal fraud Relevance and reliability of evidence collected


Advanced Auditing

Advanced Auditing *Auditors response to risk due to fraud Management override Auditor must design and perform procedures to respond to the risk of management override

Evaluation of audit evidence Is initial assessment of material misstatement (assertion level) still appropriate after initial procedures have been conducted Examples Discrepancies in accounting records Conflicting or missing evidence Problematic relationships between auditor and management


Advanced Auditing

Advanced Auditing *Auditors response to risk due to fraud Management representations To include Management is responsible for IC systems prevent and detect fraud Management has disclosed results of its assessment of risk of material misstatement due to fraud Management has disclosed all frauds involving management and employees Management has disclosed any allegations of fraud Should only ever be corroborating evidence March/April 2009Advanced Auditing

Advanced Auditing

Advanced Auditing *Fraud Risk Factors Stage of auditAt the planning stageGaining understanding of entity and its environment Gather information to identify the risk of material misstatement due to fraud Assessing the risk of material misstatement due to fraud Does the information gathered indicate the presence of the risk factors March/April 2009Advanced Auditing

Advanced Auditing

Advanced Auditing *Fraud Risk Factors Consideration of Incentives / pressures On management to report fraudulently On management and employees to misappropriate assets Opportunities For management to report fraudulently For management and employees to misappropriate assets Attitudes / rationalisations Do attitudes of management and employees indicate Fraudulent reporting Misappropriation of assets


Advanced Auditing

JOIN KHALID AZIZCOMMERCE COACHCOACHING CLASSESICMAP STAGE 1,2,3,4..& CAMICAP MODULE A,B,C,DPIPFAMA-ECONOMICSB.COM, BBA & MBABA-ECONOMICSINTER COMMERCE0322-3385752R1173, ALNOOR SOCIETY BLOCK 19, F.B.AREA, KARACHI.


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Advanced Auditing