Читать книгу Wiley Practitioner's Guide to GAAS 2020 - Joanne M. Flood - Страница 92

When planning the audit, members of the audit team must discuss where and how the financial statements may be susceptible to material misstatement caused by fraud. This discussion should include the following:

 Exchange ideas and brainstorm about where the financial statements are susceptible to fraud, how assets could be stolen, and how management might engage in fraudulent financial reporting.

 Emphasize the need to maintain the proper mind-set throughout the audit regarding the potential for fraud. As previously discussed, the auditor should continually exercise professional skepticism and have a questioning mind when performing the audit and evaluating audit evidence. Engagement team members should thoroughly probe issues, acquire additional evidence when necessary, and consult with other team members and firm experts as needed.

 Consider known external and internal factors affecting the entity that might create incentives and opportunities to commit fraud, and indicate an environment that enables rationalizations for committing fraud.

 Consider indications of earnings management.

 Consider the risk that management might override controls.

 Consider how to respond to the susceptibility of the financial statements to material misstatement caused by fraud.

 For the purposes of this discussion, set aside any of the audit team’s prior beliefs about management’s honesty and integrity.

The discussion would normally include key audit team members. Other factors that should be considered when planning the discussion include:

 Whether to have multiple discussions if the audit involves more than one location

 Whether to include specialists assigned to the audit

Audit team members should continue to communicate throughout the audit about the risks of material misstatement due to fraud. (AU-C 240.15)