A study of auditors' responsibility for fraud detection in Malaysia
Loading...
Date
Authors
Lee, T.H.
Md Ali, A.
Gloeck, Juergen D. (Juergen Dieter), 1956-
Journal Title
Journal ISSN
Volume Title
Publisher
Southern African Institute of Government Auditors
Abstract
The auditors' duties for the prevention, detection and reporting of fraud, other illegal acts and errors is one of the most controversial issues in auditing. This paper reports the findings of a survey that explores the financial report users’ perceptions on the extent of fraud in Malaysia and their perceptions of auditors’ responsibilities in detecting fraud and the related audit procedures. The study reveals fraud is a concern in Malaysia. This study also finds that there is a widely held misperception of the objective of an audit. This is because, among respondents, a much higher expectation has been placed on the auditors' duties in detecting and reporting fraud than statute or audit standards require. The results of the study show unquestionably the existence, with respect to detection of fraud, of a gap between the perception of the respondents and the present statutory requirements of auditors.
Description
Keywords
Auditing, Fraud, Auditors’ responsibilities, Audit expectation gap
Sustainable Development Goals
Citation
Lee, TH, Ali, AMd & Gloeck, JD 2008, 'A study of auditors' responsibility for fraud detection in Malaysia', Southern African Journal of Accountability and Auditing Research, vol. 8, pp. 27-34. [http://www.saiga.co.za/publications-sajaar.htm]