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论文作者:www.51lunwen.org论文属性:作业 Assignment登出时间:2016-04-01编辑:zhaotianyun点击率:6582
论文字数:1139论文编号:org201603311145151311语种:英语 English地区:澳大利亚价格:免费论文
摘要:摘要:本文主要讲述了E.S.M.审计欺诈行为受到了法律制裁,讲述了审计失败的原因和其缺乏独立性。
审计失败,缺乏独立的解决方案——Auditor Failure and Lack of Independence - Solutions
Auditing failure occurs as a result of collusion and auditor negligence or incompetence to discover a management's misrepresentations. While auditors need not prove the existence of intent to commit fraud, they must use professional skepticism, (i.e., suspect the presence of intentional schemes or motivation) when certain circumstances prevail. The essence of a successful auditor is to understand the motivations of the people involved in each function, from the highest to the lowest.
Auditors are obligated to a myriad of stakeholders to ensuring that financial information is free of falsification. E.S.M.'s audit failure centered on the company's audit partner, Gomez whom was unduly influenced by monetary bribes for exchange of more favorable audit reports than what was warranted. Greed overwhelmed Gomez's caution as auditing became less of a duty and more of a business and eventually led to increased difficulty to uncover financial wrongdoings because the perpetrators were motivated with money. It was quite apparent that E.S.M's management was the enabler in the scheme because they had no neutral party to supervise the audits or discourage wrongdoing between them and their audit firm. However, the addition of an independent fraud specialist conjoined with E.S.M.'s audit firm may have significantly increased improvement in fraud detection capability. If the company had harnessed the expertise of a fraud specialist during their audits, auditor misconduct and misrepresentation of the company's financial reported would have possibly not gone undetected for seven years.
The skills of the fraud specialist are more attuned to loss prevention or defalcation detection than that of an independent auditor because they are highly trained to detect frauds beyond the scope of a regular auditor. Employing fraud specialists during E.S.M audits would have provided a cost-effective way to mitigate the likelihood of major auditing failure. E.S.M could have diminished the collusion of fraud with the help of fraud specialists and perhaps minimized the magnitude of losses if duplicitous behavior had been identified at inception. The costs would have been only a fraction of the cost of what E.S.M. expended and would have likely been more effective preventing fraudulent audits. Strong technological skill, extensive legal training, investigative skill, and collusion detection methods enable fraud specialists to outperform regular auditors in detecting defalcation and fraudulent financial statements.
Loss prevention is important for SEC filers, but it does not directly relate to the mission of the independent auditor. Fraud specialists are trained in the criminal legal system and can operate without violating the rights of potential witnesses and fraud suspects. They understand the legalities of gathering evidence of fraud. Hence, interviews with E.S.M. management and staff, from highest to lowest would have been conducted in a manner that prevents successful defamation litigation against the auditor or client regarding allegations of fraud or illegal activities.
Fraud specialists have the same basic accounting and auditing skills as regular auditors, but also include the necessary legal and detective skills that are necessary in proving that occupational fraud本论文由英语论文网提供整理,提供论文代写,英语论文代写,代写论文,代写英语论文,代写留学生论文,代写英文论文,留学生论文代写相关核心关键词搜索。