The study aimed to identify the extent of auditors’ response to
assessed risks of material misstatement due to fraud. To achieve the
study objective a questionnaire was developed that included the most
important audit procedures designed as respon
ses to assessed risks of
material misstatement due to fraud which are classified according to
the International Auditing Standards into two main groups: overall
responses at financial statement level, and other ones at assertion level;
to identify the extent of auditors’ response to those risks within the
research community represented by accredited auditors at Syrian
Commission on Financial Markets and Securities (SCFMS).
After the collapse of major international companies, the attention has been increased
to provide appropriate mechanisms to reduce the causes of these collapses. Some of
these causes were related to fraud in financial reporting. One of the used
mec
hanisms is the audit committee which plays the role of supervisor in the
companies.
The objective of this research is to study the role of audit committees in reducing
fraud in the Syrian public companies, and to achieve this goal, the researcher has
prepared questionnaire which has been distributed to some members of audit
committees in the Syrian public companies and some external auditors, the
questionnaire has included audit committees’ characteristics and their tasks which
would reduce fraud. The researcher has found that audit committees’ characteristics
and their tasks reduce fraud according to the research samples.
