Questions -
1) Define and discuss the definition of fraud, irregularities, and corruption, versus "errors" in your own words.
2) Discuss issues related to the focus of the search for any of the above stated fraud and irregularities.
- Should it be limited to top management?
- Should it cover across the board from the president of the company down to the janitor?
- Should the audit be conducted only when there is information indicating the presence of unauthorized transaction?
3) Discuss issues related to materiality of fraud, irregularity and the like.
- Should they be reported regardless to the amount involved and why?
- What is the difference between audit for fraud and forensic accounting?
- Search for cases to support your opinion.