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Hi
Are these correct and valid substantive procedures for increased risk of fraud
1)Discuss with management and obtain details of controls implemented by company
2)Ask for a sample of IA reports of company for any discussion on fraud
3)Ask from company details of employees who have not taken leaves since a long timeYes. Ok.
1 The controls discussed here should be in response to fraud risks.
2 Also IA reports that uncovered irregular transactions.So rephrasing 1 and 2 it would be more appropriate to say that
2)Ask for a sample of IA reports of company that shows irregular transactions
1)Discuss with management and obtain details of controls implemented by company in response to fraud risks
Are these correct now?
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