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Fraud Audit Pertemuan V. Matakuliah : F0184/Audit atas Kecurangan Tahun : 2007. Learning Outcomes. Mahasiswa diharapkan mampu mengidentifikasi audit atas kecurangan, dan audit keuangan Mahasiswa dapat mengetahui fungsi dari auditor kecurangan
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Fraud AuditPertemuan V Matakuliah : F0184/Audit atas Kecurangan Tahun : 2007
Learning Outcomes • Mahasiswa diharapkan mampu mengidentifikasi audit atas kecurangan, dan audit keuangan • Mahasiswa dapat mengetahui fungsi dari auditor kecurangan • Mahasiswa diharapkan mengetahui perbedaan antara auditor kecurangan dan auditor keuangan 3
Outline Materi • Fraud audit and financial audit • Fraud Auditor Profile • Fraud Auditor Vs Financial Auditor 4
Fraud Audit Fraud audit is discipline that focus on the intuitive process. The patterns to look for are the exceptions and oddities. Also one goes behind and beyond those transactions to reconstruct what may have led to them and what has followed from them. Fraud auditing is the discipline used to discourage, discern, and document such incident. 5
Financial Audit Financial auditing is intended to uncover material deviations and variances from standards of acceptable accounting and auditing practices or standard. Financial auditing concentrates on the present – on the adequacy of internal controls, on the reliability, validity, and mathematical accuracy. 6
Fraud Vs Financial Auditor The main focus of the fraud auditor is not the accounting system and internal controls against the standard (eg: IRFS, FASB) but: • Where are the weakest link in this system’s chain of controls? • What deviations from conventional good accounting practices are possible in this system • How are off-line transactions handled, and who can authorize such transactions • What would be the simplest way to compromise this system? 7
Fraud Vs Financial Auditor (Con’t) • What control features in this system can be bypassed by higher authorities? • What is the nature of the work environment? !!These questions may occur for years before they are discovered!! 8
Fraud Condition Fraud usually occur in the following conditions: • Internal controls are absent, weak, or loosely enforced • Employees are hired without due consideration for their honesty and integrity • Employees are poorly managed, exploited, abused, or placed under great stress to accomplish financial goals and objectives • Management models are themselves corrupt, inefficient, or incompetent • A trusted employee has an irresolvable personal problem, usually of a financial nature 9
Fraud Condition (Con’t) Fraud usually occur in the following conditions: • The industry of which the company is a part has a history or tradition of corruption • The company has fallen on bad times-it is losing money or market share, or its products or services are becoming obsolete 10
Fraud Case !! There is no simple formula for conducting a fraud audit, nor are there any generally accepted checklist or patterned interviews. Fraud is a human phenomenon; humans vary a great deal, as do frauds, in terms of the techniques used!! 11
Fraud Case (con’t) Most fraud are not discovered in the course of routine financial audits but though: • an allegation, complaint, or a rumor of fraud brought by a third party • an auditor’s intuition or general suspicion that something is awry • an exception from an expectation of a person senior to the suspect • the sudden discovery that something is missing 12
