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Fraud Risk in Audit Activities According to IAS 8


  • Raluca – Ionela Radu

    () („1 Decembrie 1918” University from Alba Iulia)

  • Ciprian Tudurachi

    () (Valahia University from Targoviste, Romania)


According to international auditing standards, fraud is an intentionally action realised by one or more persons as management, employees or third parties, action that generate erroneous interpretation of financial statements. The real intention is to cheat. However, there can be involved some erroneous calculus generated by creative accounting. The concept of “error” refers to unintentionally mistakes that could appear in financial statements. We think there could be mathematical or accounting mistakes, unintentionally omission, or wrong interpretation of certain facts, accounting policies wrong application. All these actions are unwittingly. It is very important to identify situations cause and take necessary measures to eliminate them

Suggested Citation

  • Raluca – Ionela Radu & Ciprian Tudurachi, 2014. "Fraud Risk in Audit Activities According to IAS 8," Hyperion Economic Journal, Faculty of Economic Sciences, Hyperion University of Bucharest, Romania, vol. 2(1), pages 46-49, March.
  • Handle: RePEc:hyp:journl:v:2:y:2014:i:1:p:46-49

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    More about this item


    fraud; illegal behaviour; law enforcement; audit; auditing; auditor; double entry; risk; IAS 8;

    JEL classification:

    • K42 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior - - - Illegal Behavior and the Enforcement of Law
    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • M42 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Auditing


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