Corporate Fraud and the Role of auditors-Bangladesh perspective

Topics: Auditing, Audit, Internal control Pages: 15 (3541 words) Published: November 23, 2014
CORPORATE FRAUD & THE ROLES OF AUDITOR (BANGLADESH PERSPECTIVE) Submitted To: Tahmina Ahmed Lecturer Department Of Accounting And Information Systems University Of Dhaka. Submitted By: Group No. 02 ID 18003 18051 18053 18073 18089 18200 NAME Safiqur Rahman Mahadin Anik Mahmudul Islam Arnab Kumar Chakrabartty Abdullah Al Noman Namrata Chakma Date of Submission: November 11, 2014.

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This Report Includes The Following Contents
Chapter No.
Contents
Page No.
01.Introduction
1.1 1.2 1.3 1.4
Introduction. Scope of the report. Objective of the report. Limitations of the report. What is corporate fraud? Kinds of corporate frauds. Reasons for corporate fraud. Auditor’s role. Bangladesh perspective. Findings of the study. 03 03 03 04 04 05 05 06 09 10

02.Literature Review
2.1 2.2 2.3 2.4 2.5
03.Findings Of The Study
3.1
04.Conclusion & Recommendations
4.1 4.2
Conclusion. Recommendations.
12 13
05. References.
5.1
References.
14
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CHAPTER 1
INTRODUCTION
1.1 WHAT IS CORPORATE FRAUD AND WHAT WE ARE GOING TO DO THROUGHOUT THE WHOLE REPORT? The term ‘Fraud’ essentially includes the use of deception to make some personal gains for oneself dishonestly obviously and create some losses for another within the organization or outside the organization. Although definitions of corporate fraud vary in different situations, most of them are based on these general themes. The term ‘Corporate Fraud’ usually includes activities such as corruption, misuse of accounts, payroll fraud, embezzlement, theft, conspiracy, money laundering, extortion and bribery. Corporate fraud can be internal or external but must be related to the organizations anyway. Throughout the whole report we will discuss the scope of the report, objective of the report, limitations of the report. We will discuss the nature of the corporate fraud and the role of the auditors in detecting those frauds in Bangladesh perspectives. We’ll also discuss what practices the auditors Bangladesh use in detecting and solving corporate fraud related issues. The findings from this report will be discussed below before the conclusion and recognition part. 1.2 SCOPE OF THE REPORT. A study on the Corporate Fraud involves an examination over the activities of the individuals who have a interest in the organization for which they are working both internally and externally. The scope of this report is confined to the information about the roles that the auditors play in making a true and fair financial report in the perspective of Bangladesh. 1.3 OBJECTIVE OF THE REPORT. The objective of this report is to identify those risks that usually involves in the organization’s day to day activities and made by the people within the organization and outside the organization as well. This report also will discuss the extent of risk imbedded in every fraud, their impact and prioritizing actions by the auditors to control and reduce risks derived from the occurrence of those frauds. This report further includes the role of the auditors in identifying and reducing the extent of corporate fraud risks of any corporate firm. Addition to this one this report will also include what kind of practices have performed in respect of the role of the auditors in Bangladesh regarding the corporate fraud and finally we will discuss our findings we found from the entire report. 3|Page

1.4 Due to some scope limitations the  LIMITATIONS OF THE REPORT. report could not present a thorough analysis of corporate fraud. Unavailability of the some written document. Standards and procedures have been changed at different times. The report could not describe all the information thoroughly. CHAPTER- 02 2.1 WHAT IS CORPORATE FRAUD? Corporate fraud is some activities undertaken by an individual or company that are done in a dishonest or illegal manner, and are designed to give an advantage to the perpetrating individual or company. Corporate fraud schemes go beyond the scope of an employee's stated...
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