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Understanding financial reporting fraud in Egypt: evidence from the audit field

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  • Rasha Kassem

Abstract

This study expands our knowledge and understanding of financial reporting fraud in Egypt by drawing on the perceptions of experienced international and Big 4 auditors in that country. In particular, it explores (1) how common financial reporting fraud is in Egypt, (2) the perpetrators and victims of financial reporting fraud in Egypt and (3) how financial reporting fraud is committed and concealed in Egypt. The study sheds light on generic issues that could have implications for auditors and audit regulators. In addition, the study provides a detailed guide on how financial reporting fraud schemes are committed and concealed in Egypt, knowledge of which could help auditors design effective audit tests to assess fraud risk and help those charged with governance to design effective prevention and detection techniques. Egypt could be an attractive destination for international investors, therefore knowledge of the nature and victims of fraud in Egypt could help investors make informed decisions about where to invest their money. The results of this study could also help regulators in Egypt as well as World Trade Organizations determine where to focus their support and enforcement efforts.

Suggested Citation

  • Rasha Kassem, 2019. "Understanding financial reporting fraud in Egypt: evidence from the audit field," Third World Quarterly, Taylor & Francis Journals, vol. 40(11), pages 1996-2015, November.
    • Handle: RePEc:taf:ctwqxx:v:40:y:2019:i:11:p:1996-2015
    DOI: 10.1080/01436597.2019.1626709
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    Cited by:

    1. Tariq H. Ismail & Mohamed El-Deeb & Yasser Tawfik Halim, 2022. "Do related party transactions affect the relationship between political connections and firm value? Evidence from Egypt," Future Business Journal, Springer, vol. 8(1), pages 1-12, December.
    2. Khalil Feghali & Reine Najem & Beverly Dawn Metcalfe, 2022. "Financial Auditing During Crisis: Assessing and Reporting Fraud and Going Concern Risk in Lebanon," Journal of Accounting and Management Information Systems, Faculty of Accounting and Management Information Systems, The Bucharest University of Economic Studies, vol. 21(4), pages 575-603, December.

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