Auditors typically view property and equipment as a low - risk area. However, the opportunity for a significant fraud in a one-time transaction is actually high. The purchase of a building at an inflated price from a related party can cause significant... 

How fraud in the cash receipt cycle occurs in an organization depends largely on the nature of the business and how the cash cycle operates. Unlike the expenditure cycle, the mechanics of the fraud scheme will vary by organization. For simplicity, the... 

Many auditors have stopped auditing travel expenses because of the materiality of the expense. While there is no argument that an individual expense report is not material or that total travel expenses are not material to the company, there are other...