An error refers to unintentional mistakes in financial information. These may include mathematical or clerical mistakes in accounting records, oversight or misinterpretation of facts, or misapplication of accounting policies. In many cases, accounting staff may
Fraud refers to the intentional misrepresentation of financial information by one or more individuals, including management, employees, or third parties. Unlike errors, fraud involves deliberate actions taken to deceive users of financial statements. Fraud may
Vouchers are also known as audit evidence. Business transactions are recorded in the books of accounts on the basis of written proof, and vouchers serve as that proof. A voucher is a document that provides
