1. Would an auditing-standard convergence prevent fraud at the top-executive level?  If No, how to deter top executives from engaging in illegal conduct?2. As an accounting professional, what can you do better than a machine or artificial intelligence?  If accounting and auditing standards are 100% rules-based without any judgment, would there be more or less accounting jobs for us?

Question
Asked Apr 22, 2019

1. Would an auditing-standard convergence prevent fraud at the top-executive level?  If No, how to deter top executives from engaging in illegal conduct?

2. As an accounting professional, what can you do better than a machine or artificial intelligence?  If accounting and auditing standards are 100% rules-based without any judgment, would there be more or less accounting jobs for us?  

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  • Convergence the auditing standards can prevent the frauds at the top executive level but it cannot eradicate the entire frauds.

 

  • To prevent frauds at top level management, the auditor should implement the audit procedure in the manner that the frauds at the top level management must be caught.

 

  • The auditor has to get deep knowledge about the busines...

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