Risk and Materiality are two concepts that are well known and understood by auditors. In the area of fraud these concepts apply to the risk of experiencing a fraud and the materiality of the losses to fraud. The assessment of the importance of these factors will, to some degree, determine how serious the company treats the prevention and detection of fraud. It will also affect the resources devoted to fraud related tasks by audit, so it is important for all auditors to given proper consideration to the risk and material of fraud in their organization. The primary responsibility for the prevention and detection of fraud rests with those charged with the governance of the entity (i.e., the Board of Directors) and management (the client). This book helps to accomplish objectives by bringing a systematic, disciplined approach to evaluate and improve effectiveness and risk management, control and governance processes. Furthermore, it also covers carrying out proactive fraud auditing to target potential acts of fraud.
|AUTHOR'S NAME||DR. NUZHAT SADRIWALA|
|PUBLISHER||AKHAND PUBLISHING HOUSE|