oa Meditari : Research Journal of the School of Accounting Sciences - Corruption and fraud : any lessons for the auditor?
|Article Title||Corruption and fraud : any lessons for the auditor?|
|© Publisher:||University of Pretoria|
|Journal||Meditari : Research Journal of the School of Accounting Sciences|
|Author||H. Labuschagne and G. Els|
|Publication Date||Jan 2006|
|Pages||29 - 47|
|Keyword(s)||Auditing Profession Act, Auditor's reporting duty, Corruption, Fraud, Material irregularity, Person holding a position of authority, Reportable irregularity and The Prevention and Combating of Corrupt Activities Act, Act 12 of 2004|
The Prevention and Combating of Corrupt Activities Act, Act 12 of 2004, was instituted to curb corrupt activities. It imposes a duty on people in positions of authority to report corrupt or suspected corrupt activities and related activities. However, auditors are not listed in this Act as persons in a position of authority.
This article discusses whether, despite the fact that the Prevention and Combating of Corrupt Activities Act does not place such a reporting duty on an auditor, auditors nevertheless have a duty in terms of other legislation to report any unlawful activities that they uncover in the course of their work, or which they suspect to have been committed. The article also examines whether auditors are required to consider the risk of corruption.
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