<abstract xmlns="http://www.w3.org/1999/xhtml">

<p>This paper is dealing with the first pioneering steps to introduce continuous fraud risk assessment tools and techniques in the medium size audit clients in Montenegro. Based on the available experience and audit evidence data gathered in the period 2019 to 2021 statutory audits of medium size enterprise the clients were open and perceptive to adopt simple techniques of the continuous fraud assessment by applying the MS Excel templates. The beforementioned approach is improving the quality of internal control, lowering the levels of asset’s misappropriation, improving the quality of financial and non-financial reporting, regulatory compliance and significantly preventing illegal acts within the enterprise.</p>
</abstract>

This paper is dealing with the first pioneering steps to introduce continuous fraud risk assessment tools and techniques in the medium size audit clients in Montenegro. Based on the available experience and audit evidence data gathered in the period 2019 to 2021 statutory audits of medium size enterprise the clients were open and perceptive to adopt simple techniques of the continuous fraud assessment by applying the MS Excel templates. The beforementioned approach is improving the quality of internal control, lowering the levels of asset’s misappropriation, improving the quality of financial and non-financial reporting, regulatory compliance and significantly preventing illegal acts within the enterprise.

Continuous Fraud Assessment within the External Auditing

Faculty for Meditareanen Business Studies

Journal of Forensic Accounting Profession

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

{"article-title":"Continuous Fraud Assessment within the External Auditing"}

This paper is dealing with the first pioneering steps to introduce continuous fraud risk assessment tools and techniques in the medium size audit clients in...

Continuous Fraud Assessment within the External Auditing

Published Online: Jul 11, 2022

Page range: 43 - 54

Received: May 04, 2022

Accepted: May 20, 2022

DOI: https://doi.org/10.2478/jfap-2022-0004

Keywords
Continuous auditing, Fraud, Risk Assessment, Montenegro

© 2022 Branko Ljutić et al., published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Continuous Fraud Assessment within the External Auditing

Published Online: Jul 11, 2022

Page range: 43 - 54

Received: May 04, 2022

Accepted: May 20, 2022

DOI: https://doi.org/10.2478/jfap-2022-0004

KeywordsContinuous auditing, Fraud, Risk Assessment, Montenegro

© 2022 Branko Ljutić et al., published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Keywords
Continuous auditing, Fraud, Risk Assessment, Montenegro