[shanek327]

So if it is inconsequential, you don’t need to report it? Even if it’s fraud or illegal?

FAR - 75
AUD - 78
BEC - 82
REG - 77

2 Corinthians 5:21

Our value does not come from our skills and abilities, as good as they may be; it does not come from our GPA, our job, a promotion from that job to a better job, our success on the CPA exam, or anything of the like; but our value comes from the fact that we have a Creator who loves us, cares for us, and desires to help us navigate the rough waters of this life in a way that provides security, hope, and true, everlasting joy while we anticipate the life to come, with Him.

[WaivingMyHands_ALOT]

Depends who is committing the act. If you are auditing a national grocery chain that has $500M in gross revenue, and a cashier steals $20 from the cash register, or was defrauding the store they work in for a few hundred dollars, you don't need to report it.

However I believe any fraud committed by management (think C level or VPs) would be considered “material” and need to be reported. Brings in the question of integrity of management which is a big issue.

AUD 99
BEC 96
FAR 94
REG 96

[Author]

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