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If auditor detected a fraud then what is his percentage of contribution ? 100 % 50 % 30 % 20 %

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Question ajoutée par Geetesh kumar lalwani , Assistant Manager Finance and Treasury , Mawared Energy
Date de publication: 2014/12/14
Lesley Lanag CMA CPA
par Lesley Lanag CMA CPA , Senior Accountant , Takaful Emarat Insurance (P.S.C)

Discovery of fraud would lead auditors to believe that the internal control is weak. A high control risk, would mean higher audit risk. Because of this, the auditor should perform additional substantive audit procedures and increasing sample size to100%, if necessary.

Sivakumar Gajendran
par Sivakumar Gajendran , Laboratory Quality manager , Dr. Balwant Singh`s Hospital Inc.

In Audit it is both the organization as well as Assessor have equal responsibilities, the organization by providing all the requirements to meet the assessors demand and the Assessor to assess and disclose all the findings and recommendation to meet the standards, If found Fraud, I would commend the efficiency of the Assessor who has done his job in excellence, I would say100 %

It depends on the fraud the auditor may detect. In such a way, the higher the fraud the higher the risk.

Khalid Noor
par Khalid Noor , Accounting Manager , FedEx

Vague question, every incident is unique. Sometime the fraud may be totally detected by Auditor while in some cases it may be through tip-off or through a whistle blower.

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