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Forensic Accounting, Forensic Techniques, and Fraud Detection Copyrighted 2001 D. Larry Crumbley, ... - page 115 / 352

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© D.L. Crumbley

Comparison of Auditing and Forensic Examination

Source: Apostolou, B, “Course 992003: Fundamentals of Fraud Detection and Prevention,” www.education.smartpros.com, 1998.

Presumption

Methodology

Objective

Scope

Timing

Issue

Proof to support or refute an allegation of fraud.

Professional skepticism

Fraud examination techniques include document examination, public record searches, and interviews.

Audit techniques applied primarily to financial data.

Affix blame: determine if fraud occurred and who is responsible. Adversarial in nature.

Opinion: express opinion on financial statements

Specific: the fraud examination is conducted to resolve specific allegations.

General: collection of sufficient, competent data to support the opinion rendered.

Nonrecurring: fraud examinations are nonrecurring. They are conducted only with sufficient predication.

Recurring: audits are conducted on a regular basis

Forensic Examination

Audit

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