Continuous Fraud Assessment within the External Auditing

Ljutić Branko () and Samardžić Radovan ()
Additional contact information
Ljutić Branko: Santa Fe Associates International Montenegro Audit, Zagreb School of Economics & Management
Samardžić Radovan: Cattaro Audit, Kotor, Montenegro, Faculty for Meditareanen Business Studies, Tivat, Montenegro

Journal of Forensic Accounting Profession, 2022, vol. 2, issue 1, 43-54

Abstract: This paper is dealing with the first pioneering steps to introduce continuous fraud risk assessment tools and techniques in the medium size audit clients in Montenegro. Based on the available experience and audit evidence data gathered in the period 2019 to 2021 statutory audits of medium size enterprise the clients were open and perceptive to adopt simple techniques of the continuous fraud assessment by applying the MS Excel templates. The beforementioned approach is improving the quality of internal control, lowering the levels of asset’s misappropriation, improving the quality of financial and non-financial reporting, regulatory compliance and significantly preventing illegal acts within the enterprise.

Keywords: Continuous auditing; Fraud; Risk Assessment; Montenegro (search for similar items in EconPapers)
Date: 2022
References: View complete reference list from CitEc
Citations:

Downloads: (external link)
https://doi.org/10.2478/jfap-2022-0004 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:vrs:jfaccp:v:2:y:2022:i:1:p:43-54:n:1

DOI: 10.2478/jfap-2022-0004

Access Statistics for this article

Journal of Forensic Accounting Profession is currently edited by Benina Veledar

More articles in Journal of Forensic Accounting Profession from Sciendo
Bibliographic data for series maintained by Peter Golla ().