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Sourabh MittalSourabh Mittal asked 1 year ago

recognizing that an instance of fraud unlikely to be an isolated occurrence. pls explain this sentence of sa240.

1 Answers
RaviRavi Staff answered 1 year ago

Fraud is done intentionally
and it happens because of fraud risk factors such as pressure / incentive or opportunity or attitude / rationalisation  
 these reasons lead to fraud
generally fraud is not 1 time activity, person doing fraud is surrounded by similar issues and he tend to do fraudulent activity more than once, infact number of times
that’s what sentence wants to say that if you come across fraudulent activity, be careful and keep in mind that, this may not be only 1 isolated case, there would be additional cases of  same type and auditor should plan keep this in mind

Sourabh MittalSourabh Mittal replied 1 year ago

cleared.

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