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Strategies & Market Trends : ahhaha's ahs
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To: DMaA who wrote (4740)7/9/2002 11:40:52 AM
From: Keith MonahanRead Replies (1) of 24758
 
When would fraud NOT warrant inclusion in the audit report?

Lets say, hypothetically, the CFO of WCOM embezzled a million dollars. Clearly an important issue to deal with inside the company, but not a material amount to a company with billions of dollars in revenue. Therefore, such an act would not require a change from an unqualified or "clean" audit opinion.

What if an auditor uncovered evidence of murder?

Then he should report it. Financial fraud and murder are two different issues.
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