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)
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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

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Querist : Anonymous

Querist : Anonymous (Querist)

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

Nikhil Kaushik

Nikhil Kaushik (Expert)
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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.