The differences between auditors and forensic accountants with respect to their ability to identify effective additional procedures to mitigate identified fraud risks
AbstractAny decision an auditor takes concerning fraud is perceived as extremely sensitive. Several enormous financial scandals at the beginning of the 21st century created doubt about the role of the auditors for these companies being questioned. Auditors were being blamed for having made mistakes with respect to fraud risks. It seems that in general auditors experience degrees of difficulties with respect to fraud risk assessment. The aim of this article is to introduce my research. It is a literature study outlining my research approach to the aforementioned problem of fraud risk assessment and the role auditors have in this. Because it is a preliminary study this article does not contain any empirical data. Over the course of the last few years there have been a substantial number of articles appearing in leading international accounting journals investigating the causes as to why auditors have difficulties with respect to fraud risk assessment. Former research indicates that forensic accountants might be better equipped than auditors to identify effective procedures to mitigate fraud risks. With my research I want to investigate why this is the case. Therefore I am identifying factors which influence the quality of the fraud risk assessment. By means of a combination of an experiment and a survey I want to investigate the (causal) relationships between these factors and an effective fraud risk assessment.
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Bibliographic InfoPaper provided by Nyenrode Business Universiteit in its series Nyenrode Research Papers Series with number NRI09-23.
Date of creation: 2009
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Audit planning; Forensic auditing; Fraud risk assessments; Fraud risk factors;
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