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Website auditor mac security risk9/5/2023 Heavy dependence on a few key employees, who have too much power and too few checks and balances,.Large amounts of cash or other valuable inventory items on hand, without adequate security measures in place,.Examples of fraud risk factors that auditors consider include: Certain factors create opportunities for dishonest employees to commit fraud and, therefore, should be avoided. SAS 99 advises auditors to presume that, if given the opportunity, companies will improperly recognize revenue and management will attempt to override internal controls. It is helpful for companies to understand how this process works even if their financial statements aren’t audited. 99, Consideration of Fraud in a Financial Statement Audit, requires auditors to consider potential fraud risks before and during the information-gathering process. Statement on Auditing Standards (SAS) No. Forensic Accounting/Fraud InvestigationsĪssessing fraud risks is an integral part of the auditing process.
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