Disclosure and control of fraud in financial statements in the context of business management on the example of the polish economy


  • Yevhen Rak Cracow University of Economics




All business entities that conduct economic activities in the capital market are in contact with the revenues and costs that these activities gen-erate. This has to do with the business operations performed.  This is a sphere that cannot be ignored in the preparation of financial state-ments, the “reading” of the report or the audit conducted by the auditor in the context of business management. It is also an area particularly vulnerable to the risk of manipulation. These manipulations are related to the tweaking or smoothing of the financial result. Accordingly, the auditor is tasked with examining income and expenses, assessing their accuracy and reasonableness, verifying the correctness of presenta-tion and, on the basis of source documents and tests performed supported by working papers, issuing the final product of the audit - which is an opinion with a report - based on professional skepticism and judgment. These factors are necessary to assess the risks associated with the audit of the various elements affecting the financial result, as well as to be cautious about the data presented. This article aims to conduct a fraud analysis and show the essence and role of the auditor in the audit of the financial statements, as well as how to deal with the auditor when material irregularities are detected.



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