Theft

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Querist : Anonymous

Querist : Anonymous (Querist)

04 October 2014 can we take theft as fruad while reporting this fact in to auditor report?

Nikhil Kaushik

Nikhil Kaushik (Expert)

05 October 2014 no unless there is evidence to that effect...

Querist : Anonymous

Querist : Anonymous (Querist)

06 October 2014 SO WHAT I SUPPOSE TO DO IF IT WAS THEFT BY THIRED PARTY

Querist : Anonymous

Querist : Anonymous (Querist)

06 October 2014 REPORTING????????????????????????

Nikhil Kaushik

Nikhil Kaushik (Expert)

06 October 2014 check what actions management has taken for uncovering the theft. Check for internal controls to ensure that thefts/embezzlement are looked into by management through established protocols. Only where there is a evidence to the effect the management itself was involved it will be required for you to report. Otherwise, loss on account of theft being properly reflected in books is sufficient.

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