Date of Defense

Summer 5-14-2004



First Advisor

Jerry Kreuze, Accounting

Second Advisor

David Hurtt, Accounting

Third Advisor

Ola Smith, Accounting


In recent years the accounting profession has come under intense scrutiny and has lost credibility. Auditors have a responsibility to plan and perform an audit to obtain reasonable assurance about whether financial statements are free of material misstatements. SAS No. 99 establishes standards and provides guidance to auditors to fulfill that responsibility. SAS No. 99 - Consideration of Fraud in a Financial Statement Audit - can help auditors do their jobs more effectively, make professional skepticism a focus, and improve audits while blending fraud considerations into the audit process. The contents of the statement include: description of the characteristics of fraud, the importance of professional skepticism, discussing fraud risks among engagement personnel, identifying risks that may result in material misstatement due to fraud, assessing the identified risks after evaluating programs and controls, responding to the results of the assessment, evaluating audit evidence, communicating fraud information, and documenting the consideration of fraud. The analysis describes each area of the statement and how to implement the new requirements.

Access Setting

Honors Thesis-Campus Only