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The auditor's assessment and detection of corporate fraud: some Canadian evidence


  • Denis Cormier
  • Pascale Lapointe-Antunes


This study provides evidence on the effectiveness of the risk-based approach to fraud detection in an environment where auditing standards did not force auditors to separately consider misstatements arising from fraud. We find that auditors who consider fraud risk factors, rely on basic analytical and specific audit procedures, and are more experienced, are more likely to detect fraud. Firms that are members of a larger organisation are less likely to detect fraud. Finally, we document that auditor opinions on the implementation of auditing standards on fraud differ depending on whether or not they previously experienced and detected client fraud.

Suggested Citation

  • Denis Cormier & Pascale Lapointe-Antunes, 2006. "The auditor's assessment and detection of corporate fraud: some Canadian evidence," International Journal of Accounting, Auditing and Performance Evaluation, Inderscience Enterprises Ltd, vol. 3(2), pages 133-165.
  • Handle: RePEc:ids:ijaape:v:3:y:2006:i:2:p:133-165

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