As a fraud examiner, we consider the Fraud Triangle:-
In 2008 a Harvard Business School professor, Eugene Soltes examined this question and in 2016 published a book on the subject.
He found that middle management and employees further down the corporate ladder might commit fraud because they found a ready source of cash to ease their economic problems.
What puzzled Soltes is why well-paid business people committed fraud and he interviewed Read more
The starting point for such an investigation is gathering all the payments to suppliers preferably over a number of years. We then sort this information to enable us to review trends in the payment history. Once this data is gathered, sorted and reviewed we carry out the following procedures.
The Ethical Standard for Auditors, issued by the Irish Auditing & Accounting Supervisory Authority set out the basic principles that must be applied when carrying out an audit.
All audit firms must comply with this standard. The standard also addresses certain circumstances where an auditor may be faced with an issue that challenges their ability to act independently. Where possible, the standard seeks to advise audit firms on circumstances that are prohibited and also circumstances that are only allowed after adequate safeguards have been put in place.
Regularly firms will provide additional services to an audit client (referred to as non-audit services). This can create a number of threats to an auditors independence (self-review, self interest, management, advocacy, familiarity and intimidation threats)
Before the firm accepts to provide a non-audit service to the client, the engagement partner should:
If the auditor determines that Read more