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Fraud

VVavneet7y ago
An auditor should report fraud to shareholders in a.Audit report b.AGM Correct answer of this is A, but i dont understand why?
kengarrettkengarrettTutor7y ago#1
Generally, auditors don't say a lot at AGMs. Their prime mechanism of communocation to shareholders is via the audit report. The fraud would not necessarily be mentioned in the audit report at all provided it was disclosed in the FS (if material).
Aaccastudent7y ago#2
If the fraud was material and also disclosed in FS ..Will it be reported in audit report under key audit matters or emphasis of matter para ?
kengarrettkengarrettTutor7y ago#3
KAM. EoM rather rare now.
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