Audit risk

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May 29, 2018 at 12:20 pm #454619
humai
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Sir if there is a audit risk in scenario that
“Previous finance director left the company after it was discovered that he had been claiming fraudulent expenses from the company”

a)For the explanation of this audit risk what we can write?
b)Also what shall we write in its response?
May 29, 2018 at 1:17 pm #454630
Ken Garrett
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The audit risk is that the FD is dishoonest and everything he/she did is tainted.

In cases of fraud, you really need to moumt a full investigation: How much? How long for? What else has been stolen?
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