|
ISSN: 2344 - 102X
ISSN-L: 2344 - 102X
Our journal is currently indexed in the following databases:
|
| |
Article from Volume 7, Number 1, Year 2019| THE INFLUENCE OF THE RISK OF FRAUD AND ACCOUNTING ERRORS IN THE FINANCIAL STATEMENTS ON THE OPINION OF THE FINANCIAL AUDITOR | 
Download | | Author(s): Andreea Claudia Crucean | | DOI: 10.4316/EJAFB.2019.711 | | Abstract: The paper aims to highlight the risk of fraud and the errors with which a financial auditor can be confronted in his professional activity, but also, the presentation of these situations in the financial statements, starting from the entity's policies and the professional judgment required by legal rules. The paper reports the importance and the consequences that have these two concepts about the accounting and the financial audit. The practical part of this paper is represented by a case study accomplished on a sample of 64 companies, listed on Bucharest Stock Exchange, with non-financial activity, grouped on 6 industries according to the each entity activity. The data was synthesized following the analyzed of the annual reports published (financial statement and auditor's reports), grouping the results by category, according to the patrimonial item over who was corrected the accounting errors, because was not found fraud cases. The main conclusion that result from the case study, is that the entities that have declared accounting errors, have been corrected these according to the legislative rules, in order to present a more faithful image, because, many time, the accounting errors can distort the result, or even affect the dividends already distributed. | | Keywords: Audit, Fraud Risk, Accounting Error, Significant Error, Correction, Financial Reporting | References:
1. Alrawashdeh, H. A., Al-Rawashdeh, H. (2016). The Role Of The External Auditors In Error And Fraud Discovered In The Financial Statements In The Jordanian Public Shareholding Companies (industrial). European Journal Of Accounting, Auditing And Finance Research, 4(8), 20-34.
2. Asare, S.K, Wright, A., Zimbelman, M.F. (2015). Challenges Facing Auditors In Detecting Financial Statement Fraud: Insights From Fraud Investigations. Journal Of Forensic & Investigative Accounting, 7(2), 65-112.
3. Brazel, J., Jones, K., Zimbelman, M. (2009). Using Nonfinancial Measures To Assess Fraud Risk. Journal Of Accounting Research, 47(5), 1135-1166.
4. Bunget, O. (2009). The Role Of Financial Auditor In Detecting And Reporting Fraud And Error. MPRA Papper, 12888. Retrieved April 4, 2018 From: Http://mpra.ub.uni-muenchen.de/12888/.
5. Bunget, O. C., Dumitrescu, A. C. (2009). Detecting And Reporting The Frauds And Errors By The Auditor. Annals Universitatis Apulensis Series Oeconomica, 11 (1), 117-125.
6. Costi, B., Coman, A.C. (2017). Correcting Accounting Errors. CECCAR Business Magazine, 48-49. Retrieved April 15, 2018 From:
Http://www.ceccarbusinessmagazine.ro/corectarea-erorilor-contabile-a2921/.
7. Ghawali, M.B. (2013). The Role Of The Auditor In Meeting The Needs Of Financial Statements Users. Albaheth Journal, 12.
8. Hammerslez, J.S. (2011). A Review And Model Of Auditor Judgments In Fraud – Related Planning Tasks. Auditing: A Journal Of Practice & Theory, 30(4), 101-128.
9. Ha?egan, C., Imbrescu, C. M., Pavel, C. (2010). Developing And Applying Accounting Policies And Procedures. Studia Universitis Vasile Goldis, Arad Journal, II, 343-351.
10. International Auditing Standard 240 (ISA 240) Fraud And Error. Retrieved April 15, 2018 From: Https://www.ifac.org/system/files/downloads/a012-2010-iaasb-handbook-isa-240.pdf.
11. Ionescu, C. (2016, September). Frauds And Errors In The Audit Of Financial Statements. International Conference On Economic Science And Business Administration. Paper Presented At: Economic Sciences And Business Administration, Bucharest, Romania. Retrieved April 15, 2018 From: Www.icesba.eu.
12. Marinescu, C. (2018). Auditor's Responsibility For Fraud Within The Audit Mission. RFPC, 6, 50-55. Retrieved April 15, 2018 From: Http://discutii.mfinante.ro/static/10/Mfp/resurse/revista/articol_nr_6_2018.pdf.
13. Mironiuc, M., Chersan, I.C., Robu, I.B. (2011). The Analysis Of Fraud Tisk Profile In Audit Risk Assessment. Audit Financial Journal, 80(9), 48-56.
14. Munteanu, V., Zuca, M., Munteanu, R. (2017). Financial Audit - Accounting, Concepts, Methodologies, Regulations, Practical Cases, IV Edition. Universitar?, Bucharest, Romania.
15. Robu, I.B., Robu, M.A. (2013). Audit Procedures For Estimating The Fraud Risk Based On Indexes For Detection Of Accounting Manipulation. Audit Financial Journal, 106(10), 3-16.
16. Socoliuc, M., Mihalciuc, C., Cosmulese, C.G. (2018). Tax Evasion In Romania–between Past And Present. LUMEN Proceedings, 6(1), 406-412.
17. Stolk, C.V., Tesliuc, E. (2010). Toolkit On Tackling Error, Fraud And Corruption In Social Protection Programs. Retrieved April 15, 2018 From: Https://www.rand.org/pubs/working_papers/WR746.html.
18. Tanas?, F.E. (2013). Nature And Impact Of Fraud Risk On Companies. Intercultural Management, 15(2/28), 96-105.
19. The Difference Between Error, Irregularity And In European Funded Projects. (2018). CECCAR Business Magazine, 34. Retrieved April 4, 2018 From: Http://www.ceccarbusinessmagazine.ro/diferenta-dintre-eroare-neregula-si-frauda-in-cadrul-proiectelor-cu-finantareeuropeana-a3827/.
20. Tomasic, R. (1992). Auditors And The Reporting Of Illegality And Financial Fraud. Retrieved April 15, 2018 From: Https://aic.gov.au/sites/default/files/publications/proceedings/downloads/10-tomasic.pdf.
21. ***Minister Of Finance Order No. 1802/2014. Retrieved April 15, 2018 From: Https://static.anaf.ro/static/10/Anaf /legislatie/OMFP_1802_2014.pdf.
22. ***The Romanian Stock Exchange. Retrieved April 16, 2018 From: Www.bvb.ro.
23. ***Fraud A Guide To Its Prevention Detection And Investigation. Retrieved April 16, 2018 From: Https://www.pwc.com.au/consulting/assets/risk-controls/fraud-control-jul08.pdf.
24. *** IAS 8 Accounting Policies, Changes In Accounting Estimates And Error. Retrieved April 15, 2018 From: Https://www.ifrs.org/issuedstandards/list-of-standards/ias-8-accounting-policies-changes-in-accounting-estimates-and-errors/
|
| | Back to journal ... |
|
|
| |
|
|
|
