Auditing - Errors and Frauds - Types of Frauds - Lecure 7

Explanation in EASYWAY!!!!!!!!!!!!!!!!!!
Lecture 1 - Introduction of Auditing -    • Auditing -  Lecture 1 -  Introduction  
Lecture 2 - Principles of Auditing -    • Auditing  - Lecture 2  - Principles o...  
Lecture 3 - Verification - meaning and objective -   • Auditing  - Verification  - Meaning a...  
Lecture 4 - Verification of Inventory -    • Auditing  -  Verification of Inventory  
Lecture 5 - Verifcation of Land and Building    • Auditing -  Verification of Land & Bu...  
Lecture 6 - Errors and Frauds - Types of Errors -    • Auditing  -  Errors and Frauds  -  Le...  

Frauds – Intentional Mistake


Frauds

1. Misreporting
2. Misappropriation

Misreporting :- means not recording , recording bogus transactions, and manipulation of accounts

Misappropriation –
Of Goods ( not recording of goods received , bogus recording of goods , stealing goods from warehouse)
Of Cash ( not recording of cash received , bogus recording of Cash Payment , stealing goods from cash in Hand)