Reporting on Errors and Fraud in Financial Audit Missions

Laura-Andreea Iamandache (Florea) ()
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Laura-Andreea Iamandache (Florea): “Valahia†University of Targoviste, Romania

Ovidius University Annals, Economic Sciences Series, 2022, vol. XXII, issue 2, 863-868

Abstract: Although in Romania the financial audit is at the beginning of the road, the system of legislative regulations of recent years anticipates new trends and the expansion of its role in the next century. The main responsibility in the prevention of fraud and errors, as well as in their detection, belongs to the management of the entity, but at the same time also to those who are entrusted with the governance. These responsibilities may vary from one country to another, or from one entity to another. The management, under the careful supervision of those delegated with governance, must create an appropriate climate, establish and maintain high ethical standards, a culture of honesty and establish the setting of periodic controls to prevent and detect possible fraud and errors at the level the audited entity.

Keywords: report; financial audit; error; fraud; auditor (search for similar items in EconPapers)
JEL-codes: M (search for similar items in EconPapers)
Date: 2022
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