Matakuliah : F0184/Audit atas Kecurangan
Tahun
: 2007
Basic Fraud Audit
Pertemuan IX
Learning Outcomes
• Mahasiswa diharapkan mampu mengidentifikasi
langkah-langkah dalam melakukan audit atas
kecurangan
• Mahasiswa dapat melihat red flag atau symptom atas
suatu kejadian didalam setiap transaksi
• Mahasiswa dapat melakukan audit atas kecurangan
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Outline Materi
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Audit Step
Audit Guidance
Audit Plan
Identify fraud scheme and red flag
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Skimming Detection
Some detection methods that may be effective in detecting
skimming schemes are :
– Receipt or Sales Level detection
– Check conversion detection
– Journal entry review
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Receipt or Sales Level Detection
• Key analytical procedures, such vertical and horizontal
analysis of sales account
• Ratio analysis
• Detail inventory control procedures
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Check Conversion Detection
Red flag arise when employee attempt to convert a stolen check.
– Question of validity of the check
– Dual endorsement is not allowed
– Canceled checks with dual endorsement should be cutinized
– A forget endorsement is discovered
– Employee has opened a bank account with a name similar to
the victim company
– An alteration of check payee or endorsement is discovered
– etc
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Journal Entry Review
Journal entry that should be examine:
• False credit to inventory to conceal unrecorded or
understated sales
• Other write-off of inventory for reason of lost, stolen or
obsolete product
• Write-off of account receivable account
• Irregular entries to cash account
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Skimming Prevention
Received of
sales level
control
Check
conversion
control
General
control
Skimming
controls
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Received of Sales Level Control
Internal control
procedures for
received of sales
Management
communication to
employee
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Check Conversion Control
Work in
cooperatives effort
with the bank
Check tampering
and conversion
control
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General Control
Policy and procedures of general control of sales entry and
general ledger access will cover:
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Appropriate segregation of duties
Transaction must be properly record
Proper safeguard measures
Independent reconciliation
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Skimming Controls
Red Flag for detecting :
• Mail open by someone independent
• Delivery of unopened business mail prohibited to
employee
• Lock box used
• Cash receipt pre number
• Check reconciliation
• Cash receipt deposit daily
• Employee who handle receipt bonded
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Cash Larceny
Theft of cash from the register
Other larceny of sales and
receivables
Cash larceny from the deposit
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Theft of Cash from the Register
Personal Check
Reversing transaction
Altering cash counts
Destroying register tapes
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Theft of cash from the register modus
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Other Larceny of Sales and Receivables
Post all record but stolen the money received and :
– Plan to pay the money back
– Make unsupported entries
– Destroy all the record
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Other Larceny of Sales and Receivables
Modus
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Cash Larceny from the Deposit
Deposit lapping
Deposit in transit
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Cash Larceny from the Deposit Modus
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Cash Larceny Detection
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Receipt recording
Analytical review
Register detection
Cash account analysis
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Receipt Recording
Depth Analysis for :
• Mail and register receipt point
• Journalizing and recording of receipt
• The security of the cash from receipt to deposit
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Analytical Review
• Analyzing relationship between sales, cost of sales and
return and allowances can detect inappropriate refunds
and discount.
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Register Detection
• Access to the register must be closely monitored
• Independent person for preparing register count sheet and
aggree them to register total
• Popular concealment methods must be watched for.
• Complete register documentation and cash
• etc
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Cash Account Analysis
• Reviewing and analyzing all journal entries made to
account cash
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Cash Larceny Prevention
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Segregation of duties
Assigment rotation and mandatory vacation
Surprise cash count and procedures supervision
Phisical security of cash
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