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A Phenomenological Study of SAS No. 99 and Auditors' Perception of the Fraud Triangle Theory.

Record Type:	Language materials, manuscript : Monograph/item
Title/Author:	A Phenomenological Study of SAS No. 99 and Auditors' Perception of the Fraud Triangle Theory./
Author:	Powell, Walfyette.
Description:	1 online resource (155 pages)
Notes:	Source: Dissertation Abstracts International, Volume: 78-08(E), Section: A.
Contained By:	Dissertation Abstracts International78-08A(E).
Subject:	Accounting. -
Online resource:	click for full text (PQDT)
ISBN:	9781369663495

A Phenomenological Study of SAS No. 99 and Auditors' Perception of the Fraud Triangle Theory.
Powell, Walfyette.

A Phenomenological Study of SAS No. 99 and Auditors' Perception of the Fraud Triangle Theory. - 1 online resource (155 pages)

Source: Dissertation Abstracts International, Volume: 78-08(E), Section: A.

Thesis (Ph.D.)

Includes bibliographical references

The fraud triangle theory is the underpinning principle of SAS No 99 and it is utilized by auditors to detect and assess the likelihood of fraud during a financial statement audit. Although the theory is relied upon to detect fraud many scholars believe it is inadequate in fraud detection. From 2002 to 2008, undetected fraud increased from 5% to 7%. Based on this claim it is evident that the fraud triangle theory has not improved auditors' ability to detect fraud. The theory articulates three critical elements that are present for a typical individual who engages in fraud: opportunity, perceived pressure, and rationalization. The theory has gained recognition over the last forty years; however, Kassem, Higson, and Buchholz suggest that the fraud triangle is ineffective in detecting fraud. They suggest that a new fraud theory should be implemented that includes motivation, integrity, and capability because it would improve auditors' ability to detect the likelihood of financial statement fraud. The purpose of this qualitative phenomenological study was to understand and describe U.S. auditors' perceptions of the effectiveness of fraud triangle theory and to determine if motivation, integrity, and capability should be included in fraud theory. The researchers suggest the fraud triangle should be modified and it should include motivation and capability which is observable events and rationalization should be removed because it is not an observable event. Future research on the fraud triangle theory should focus on two important areas. First, future research should identify techniques to determine if an employee has rationalized their actions to commit financial fraud and future research should focus on modifying SAS No. 99. Lastly, findings from this research may help auditors to perform their duties to detect whether financial statement fraud exists in an organization.

Electronic reproduction.
Ann Arbor, Mich. :
ProQuest,
2018

Mode of access: World Wide Web

ISBN: 9781369663495Subjects--Topical Terms:

561166
Accounting.
Index Terms--Genre/Form:

554714
Electronic books.

A Phenomenological Study of SAS No. 99 and Auditors' Perception of the Fraud Triangle Theory.
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520 $a The fraud triangle theory is the underpinning principle of SAS No 99 and it is utilized by auditors to detect and assess the likelihood of fraud during a financial statement audit. Although the theory is relied upon to detect fraud many scholars believe it is inadequate in fraud detection. From 2002 to 2008, undetected fraud increased from 5% to 7%. Based on this claim it is evident that the fraud triangle theory has not improved auditors' ability to detect fraud. The theory articulates three critical elements that are present for a typical individual who engages in fraud: opportunity, perceived pressure, and rationalization. The theory has gained recognition over the last forty years; however, Kassem, Higson, and Buchholz suggest that the fraud triangle is ineffective in detecting fraud. They suggest that a new fraud theory should be implemented that includes motivation, integrity, and capability because it would improve auditors' ability to detect the likelihood of financial statement fraud. The purpose of this qualitative phenomenological study was to understand and describe U.S. auditors' perceptions of the effectiveness of fraud triangle theory and to determine if motivation, integrity, and capability should be included in fraud theory. The researchers suggest the fraud triangle should be modified and it should include motivation and capability which is observable events and rationalization should be removed because it is not an observable event. Future research on the fraud triangle theory should focus on two important areas. First, future research should identify techniques to determine if an employee has rationalized their actions to commit financial fraud and future research should focus on modifying SAS No. 99. Lastly, findings from this research may help auditors to perform their duties to detect whether financial statement fraud exists in an organization.
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