Fraud Risk in Audit Activities According to IAS 8
Raluca – Ionela Radu () and
Ciprian Tudurachi ()
Additional contact information
Raluca – Ionela Radu: „1 Decembrie 1918” University from Alba Iulia
Ciprian Tudurachi: Valahia University from Targoviste, Romania
Hyperion Economic Journal, 2014, vol. 2, issue 1, 46-49
According to international auditing standards, fraud is an intentionally action realised by one or more persons as management, employees or third parties, action that generate erroneous interpretation of financial statements. The real intention is to cheat. However, there can be involved some erroneous calculus generated by creative accounting. The concept of “error” refers to unintentionally mistakes that could appear in financial statements. We think there could be mathematical or accounting mistakes, unintentionally omission, or wrong interpretation of certain facts, accounting policies wrong application. All these actions are unwittingly. It is very important to identify situations cause and take necessary measures to eliminate them
Keywords: fraud; illegal behaviour; law enforcement; audit; auditing; auditor; double entry; risk; IAS 8 (search for similar items in EconPapers)
JEL-codes: K42 M41 M42 (search for similar items in EconPapers)
References: Add references at CitEc
Citations Track citations by RSS feed
Downloads: (external link)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:hyp:journl:v:2:y:2014:i:1:p:46-49
Access Statistics for this article
Hyperion Economic Journal is currently edited by Iulian Panait
More articles in Hyperion Economic Journal from Faculty of Economic Sciences, Hyperion University of Bucharest, Romania Hyperion University, Faculty of Economic Sciences, Calea Calarasilor no. 169, district 3, Bucharest, 030615, Romania. Contact information at EDIRC.
Series data maintained by Iulian Panait ().