Transcription of AU Section 316 - AICPA
{{id}} {{{paragraph}}}
Example: marketing
AU Section 316 - AICPA
Consideration of Fraud in a Financial Statement Audit1719AU Section 316 Consideration of Fraud in a FinancialStatement Audit(Supersedes SAS No. 82.)Source: SAS No. 99; SAS No. for audits of financial statements for periods beginning on or afterDecember 15, 2002, unless otherwise and 110,Responsibilities and Functions of the Independent Audi-tor, paragraph .02, states, "The auditor has a responsibility to plan and performthe audit to obtain reasonable assurance about whether the financial state-ments are free of material misstatement , whether caused by error or fraud.[footnote omitted]"1 This Section establishes standards and provides guidanceto auditors in fulfilling that responsibility, as it relates to fraud, in an audit offinancial statements conducted in accordance with generally accepted auditingstandards (GAAS).
1722 The Standards of Field Work.06 Two types of misstatements are relevant to the auditor's considera- tion of fraud—misstatements arising from fraudulent financial reporting and misstatements arising from misappropriation of assets. • Misstatements arising from fraudulent financial reporting are inten- tional misstatements or omissions of amounts or disclosures in …
Tags:
Information
Domain:
Source:
Link to this page:
Please notify us if you found a problem with this document: