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cjohns21 cjohns21
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Misappropriation of assets

▸ is generally committed by company management.

▸ harms the users of the financial statements by providing them incorrect financial data for their decision making.

▸ causes harm to stockholders because the assets are no longer available to their rightful owners.

▸ causes the financial statements to be misstated since the misappropriation usually involves material amounts.
Textbook 

Auditing and Assurance Services


Edition: 17th
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durandaldurandal
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causes harm to stockholders because the assets are no longer available to their rightful owners.

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