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Fraud

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AA Exams › Fraud

  • This topic has 3 replies, 3 voices, and was last updated 6 years ago by Ken Garrett.
Viewing 4 posts - 1 through 4 (of 4 total)
  • Author
    Posts
  • February 24, 2019 at 12:49 pm #506388
    vavneetb
    Participant
    • Topics: 175
    • Replies: 123
    • ☆☆☆

    An auditor should report fraud to shareholders in
    a.Audit report
    b.AGM

    Correct answer of this is A, but i dont understand why?

    February 24, 2019 at 5:11 pm #506418
    Ken Garrett
    Keymaster
    • Topics: 10
    • Replies: 10595
    • ☆☆☆☆☆

    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).

    February 26, 2019 at 5:23 am #506545
    alikhakar
    Participant
    • Topics: 187
    • Replies: 79
    • ☆☆☆

    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 ?

    February 26, 2019 at 6:34 am #506550
    Ken Garrett
    Keymaster
    • Topics: 10
    • Replies: 10595
    • ☆☆☆☆☆

    KAM. EoM rather rare now.

  • Author
    Posts
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