Q ) When assessing the fraud risk, auditors consider the risk of employee fraud and the risk of management fraud

Accounting Dec 04, 2021

Q ) When assessing the fraud risk, auditors consider the risk of employee fraud and the risk of management fraud.

For each of these two types of fraud, provide a well explained example (using a real fraud case or a fictitious situation) (be specific, indicate the effect on the financial statements) and indicate the effect on the audit if such a fraud is discovered by the auditors when they start their audit procedures.