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ASA 240 - The Auditor’s Responsibilities Relating to Fraud in an Audit of a Financial Report - October 2009
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Definitions
- For the purposes of this Auditing Standard, the following terms have the meanings attributed below:
- Fraud means an intentional act by one or more individuals among management, those charged with governance, employees, or third parties, involving the use of deception to obtain an unjust or illegal advantage.
- Fraud risk factors means events or conditions that indicate an incentive or pressure to commit fraud or provide an opportunity to commit fraud.