Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Fraudulent financial reporting
Involves intentional misstatements or errors of amounts or disclosures in financial statements to mislead financial statement users. Fraudulent financial reporting might entail the following:
(1) Deception like manipulation, falsification, or modification of accounting records or supporting documents from which the financial statements are set.(2) Mis-representation in, or intentional error from, the financial statements of events, transactions or other important information.(3) Intentional misapplication of accounting principles associating to measurement, presentation, recognition, categorization, or disclosure. The differentiating factor among fraud and error is whether the underlying action which results in the mis-statement in the financial statements is planned or unintentional. Dissimilar error, fraud is intentional and generally includes deliberate concealment of the facts. Whereas the auditor might be able to recognize potential opportunities for fraud to be committed, it is hard, when not impossible, for the auditor to establish intent, mainly in matters including management judgment, like accounting estimates and the suitable application of accounting principles.
Pension Funds - Specialized Audit Situation Pension funds are set up through companies or another organization: (a) To retired employees to administer the pension payable
should your test for unrecorded liabilities be affected by the fact that a letter is obtained in which a responsible management official certifies that to the test of his knowledge
Sales are shipped FOB shipping point with credit terms n/45. You have verified that the last shipping number used in 2009 was 261,336 and that numbers were used in numerical order.
INDEPENDENT AUDITORS' REPORT Board of Directors Los Angeles County Fair Association Pomona, California We have audited the accompanying consolidated statements of financial posi
Statistical sampling - Advantages A. It is defensible and scientific; B. It gives a precise mathematical statement for probabilities of to be correct; C. It is efficien
What is audit planning
Problem 1: You have been asked to design a system of controls so as to prevent unauthorized payments being made from the bank account. You are required to identify the controls
Q. If Kiner Company issues 3,000 shares of $5 par value common stock for $70,000, the account a. Paid-in Capital in Excess of Par Value will be credited for $15,000. b. Common Stoc
Prepayments - Audit Process Prepayments similar to accruals are not mostly checked through the double entry system. This creates them susceptible to mistake. The auditor's pro
Factors Affecting and Controlling Occupational Health (i) Walking-Working Surface Workers must work or move on different surfaces while working. Such - surfaces are cha
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd