Global standard to strengthen auditor approach to fraud

The New York-based International Auditing and Assurance Standards Board (IAASB) is revising its International Standard on Auditing ISA 240 - 'The Auditor's Responsibilities Relating to Fraud in an Audit of Financial Statements' - to help auditors play a more direct role in detecting and investigating fraud.

By Keith Nuthall

The New York-based International Auditing and Assurance Standards Board (IAASB) is revising its International Standard on Auditing ISA 240 - 'The Auditor's Responsibilities Relating to Fraud in an Audit of Financial Statements' - to help auditors play a more direct role in detecting and investigating fraud. [1]