Please enable JavaScript.
Coggle requires JavaScript to display documents.
FRAUD, LAW, REGULATORY - Coggle Diagram
FRAUD, LAW, REGULATORY
New words
deception: su lua doi
perpetrated by: gay ra boi
collude: thong dong, cau ket
deceive: lua doi
disguising: nguy trang
concealing: che giau
embezzling: bien thu
divert: chuyen
intellectual property: so huu tri tue
Fraud
Fraudulent financial reporting
omission of amounts
disclosures
manipulation, falsification, alteration of accoungting record
misrepresentation/ omission of events or transactions in the FS
Intertional misapplication of accounting principles
Misappropriation of assets ( bien thu tai san)
can related empoyee: small amount not material
can related to management : disguising and concealing to difficult to detect
embezzling receipts ( ex:divert them to private account)
stealing physical assets or intellectual property ( inventory, selling data)
Using asset for personal use
Pevent and detect FRAUD
:!!:
Trach nhiem chu yeu cua management va those charge with governance :!:
WRITTEN REPRESENTATIONS
responsility for design and implement Internal Control
disclosed to auditor
management's asset of the risk of FS
Knowledge of any fraud and suspected fraud can effect FS
knowledge of any allegations of fraud or suspected frau communicated to employee,...
Audit cogtinitve fraud when implement audit procedures
identify and assess risks of material misstatement due to fraud
obtai sufficient appropriate evidences
respond appropriately yo fraud or suspected fraud identified during the audit
maintain professional scepticism throughout the audit
Discussion within the engagement team
obtain reasonable assurance FS free from material misstatement, whether caused by fraud or error
Law and regulations
Management's responsibility
Management ensure the entity complies with ( Audit ko co trach nhiem phat hien va ngan chan nha- cai nay thuoc ve internal audit)
Auditor 's responsibility
phai co hieu biet ve luat vaf qui dinh ma DN ap dung
reported
first, those charge with governance
neu fist co lien qan thi audit committee or supervisory boar
neu ko co audit committee thi can leaga advice
sau do xem xet co nen bap cap cho co quan thi thanh luat phap hay ko tuy rang confdentiality la nguyen tac co ban nhung bi gi de boi luat
neu luat cho phep thi withdrawal khoi cuoc kiem toan sau khi ly duoc legal advice
obtain reasonable assurance that FS are free from material misstatement, whether caused by error
take into account legal and regulatory framework within which the entity operate
Prevention and detection of fraud : :black_flag: : :!!:
Audit procedures
obtain a general understanding: the applicable legal and regulatory framework and how the entity complies with that framework
reading minutes
Making enquiries of management legal advisor regarding ligigation, claims and assessmnets
performing substantive test of detail of classes of transactions, account balances or disclosures
request written representations from management
Audit process when non- compliance is identified or suspected :red_flag:
obtain understanding of nature of act or circumsances
obtain further information to evaluate possible effect to FS
Discuss with management and those charge with governance unless laws and regulations in the jurisdiction cocerned prohibit such communication.
Consider need to legal advice if sufficient evidence not provided and matter is material
Evaluate effect on audit 's opinion if sufficient information not obtained
Evaluate implication on risk assessment and reliability of written representations