types of frauds in auditing
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Answer: There are three main types of audits: external audits, internal audits, and Internal Revenue Service (IRS) audits.
External audits are commonly performed by Certified Public Accounting (CPA) firms and result in an auditor's opinion which is included in the audit report.
While there are many types of fraud, there are five that can cause the most damage.
Financial statement fraud. ...
Asset misappropriation. ...
Theft of intellectual property and trade secrets. ...
Healthcare, insurance and banking. ...
Consumer fraud.
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