A study of the expectation gap regarding fraud detection

• Main Authors: Ang, Lay Hian, Chua, Hui Hoon, Tan, Teresa Tsai Lin
• Other Authors: Nanyang Business School
• Format: Final Year Project
• Language: English
• Published: 2014
• Subjects: DRNTU::Business
• Online Access: http://hdl.handle.net/10356/55593
• Institution: Nanyang Technological University

The objective ofthis project is to study the expectation gap regarding the auditor's duty to detect fraud . According to literature review, fraud detection had been the ma in audit objective until the 1960s . Since then, auditors are more concerned about the determination of the fairness of the financial statements. In order to examine the local situation in the area of fraud detection, a survey was carried out on investors . The r es ult s showed that approximately half of the surveyed investors expected the auditor t o detect fraud. We further examined the reasons behind the investors' opinion regarding fraud detection . We analysed and compared our findings from our survey and available literature to draw our own conclusions and to suggest some recommendations for bridging the gap.