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International and US standards: error and fraud

Janet L. Colbert (Western Kentucky University, Bowling Green, Kentucky, USA)

Managerial Auditing Journal

ISSN: 0268-6902

Article publication date: 1 April 2000



Both the international and US auditing Standards provide guidance to the auditor in searching for material misstatements caused by errors and fraud. Auditors, especially those with clients interested in cross‐border securities markets, should comprehend the similarities and differences in the requirements found in the Standards in these significant audit areas. A comparison of the international Standard for error and fraud to the two US Standards for these topics discloses numerous similarities and a few differences. The findings are reassuring to auditors serving clients with cross‐border interests. Whether the auditor is utilizing the international or the US guidance, comparable audit work in searching for misstatements arising from errors and fraud is being performed.



Colbert, J.L. (2000), "International and US standards: error and fraud", Managerial Auditing Journal, Vol. 15 No. 3, pp. 97-107.




Copyright © 2000, MCB UP Limited

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