THE AUDITOR'S RESPONSIBILITIES RELATING TO FRAUD

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Presentation transcript:

THE AUDITOR'S RESPONSIBILITIES RELATING TO FRAUD ISA 240 THE AUDITOR'S RESPONSIBILITIES RELATING TO FRAUD

contents Introduction Objectives Definitions Requirements Application and Other Explanatory Material Appendix 1: Examples of Fraud Risk Factors Appendix 2: Examples of Possible Audit Procedures Appendix 3: Examples of Circumstances that Indicate the Possibility of Fraud

Introduction Scope of this ISA Characteristics of Fraud Responsibility for the Prevention and Detection of Fraud Responsibilities of the Auditor Effective Date

Objectives

Definitions

Requirements Professional Skepticism Discussion among the Engagement Team Risk Assessment Procedures and Related Activities Managements and Others within the Entity Those Charged with Governance Unusual or Unexpected Relationships Identified Other Information Evaluation of Fraud Risk Factors Identification & Assessment of the RoMM Due to Fraud Responses to the Assessed RoMM Due to Fraud Overall Responses Audit Procedures Responsive to Assessed RoMM Due to Fraud at the Assertion Level Audit Procedures Responsive to Risks Related to Management Override of Controls Evaluation of Audit Evidence Auditor Unable to Continue the Engagement Written Representations Communications to Mgmt & with Those Charged with Govern Communications to Regulatory and Enforcement Authorities Documentation

Applications & Other Explanatory Material Characteristics of Fraud Professional Skepticism Discussion among the Engagement Team Risk Assessment Procedures and Related Activities Identification and Assessment of the RoMM Due to Fraud Responses to the Assessed RoMM Due to Fraud Evaluation of Audit Evidence Auditor Unable to Continue the Engagement Written Representations Communications to Mgmt & t Those Charged with Governance Communications to Regulatory and Enforcement Authorities

Requirements Applications Professional Skepticism Discussion among the Engagement Team Risk Assessment Procedures and Related Activities Managements and Others within the Those Charged with Governance Unusual or Unexpected Relationships Other Information Evaluation of Fraud Risk Factors Identification & Assessment of the RoMM Due to F Responses to the Assessed RoMM Due to Fraud Overall Responses Audit Procedures Responsive to Assessed RoMM Due to Fraud at the Assertion Level Audit Procedures Responsive to Risks to Management Override of Controls Evaluation of Audit Evidence Auditor Unable to Continue the Engagement Written Representations Communications to Mgmt & Govern Communications to Regulatory & Enforce Auth Documentation Characteristics of Fraud Professional Skepticism Discussion among the Risk Assessment Procedures and Identification and Assess of RoMM Responses to the Assessed RoMM Evaluation of Audit Evidence Auditor Unable to Continue Written Representations Communications to Mgmt & Communications to Regulatory