（2008）Planning Fraud Detection Procedures：Fraud Specialists vs. Auditors.pdfVIP

Planning Fraud Detection Procedures: Fraud Specialists vs. Auditors J. Efrim Boritz* jeboritz@uwaterloo.ca Natalia Kotchetova nkotchet@uwaterloo.ca Linda A Robinson l2robins@uwaterloo.ca School of Accounting and Finance University of Waterloo Preliminary and incomplete. Please do not quote without authors’ permission. Comments are welcome. September 1, 2008 We gratefully acknowledge the funding provided by the CAAA/Deloitte research grant. We thank participants of the IFA conference and, in particular, Mr. Nicholas Hodson and Ms. Valerie Steele for, their assistance in conducting this study. *Contact author. Planning Fraud Detection Procedures: Fraud Specialists vs. Auditors Abstract Previous studies indicate that auditors are able to identify fraud risk factors, but may not be able to translate this knowledge into an audit plan that effectively takes these factors into account and increases the likelihood of detecting the fraud if it exists. Fraud specialists may be able to compensate for such limitations. This study investigates the relative merits of involving fraud specialists during the planning stage in assisting auditors by developing an audit plan that will effectively identify fraud. In this study, 31 fraud specialists and 17 auditors completed an audit planning case tha