The Area of Fraud
System
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I have posted this article on the technician forum as it may help some of those who struggle with the audit simulation. However, I thought it may help some of you guys in practice who deal with accountants/auditors as to a major area which not only auditors have to deal with now but also accountants which is fraud. It may also help you in your dealing with existing and/or new clients in relation to the much publicised money laundering regulations.
Before the new standards fraud was a management issue rather than an auditors/accountants problem. The article is mainly audit orientated, but it gives some examples of the indicators to look for if you suspect fraud (especially in smaller entities) and those clients who deal mainly with cash. It's also in the CPD section of the online magazine so you could gain CPD points from it.
http://www.accountingtechnician.co.uk/atonline/archive/display/store690/item47408/
Best regards
Steve
Before the new standards fraud was a management issue rather than an auditors/accountants problem. The article is mainly audit orientated, but it gives some examples of the indicators to look for if you suspect fraud (especially in smaller entities) and those clients who deal mainly with cash. It's also in the CPD section of the online magazine so you could gain CPD points from it.
http://www.accountingtechnician.co.uk/atonline/archive/display/store690/item47408/
Best regards
Steve
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