Kostova describes financial statement errors as being unintentional inaccuracies, alterations, or discrepancies within the financial statement, which could include the oversight or admission of an amount such as a mistake within the gathering and processing of data, recording incorrect accounting estimates due to carelessness or misconception of facts, or an error in the function of accounting principles regarding the assessment, acknowledgement, organization, presentation, or disclosure (p. 358). In reference to financial statement fraud, Kostova notes that fraud refers to the intentional act of one or more company executives, management, or employees using deceit in order to advance arbitrary or unlawful compensations over company funds (p. 358). Since fraud is such a comprehensive legal notion, auditors tend to concentrate on fraud that leads to substantial inaccuracies, alterations, or differences of the financial statement (p. 358). Financial statement fraud consists of intentional inaccuracies, alterations, and differences, which include the oversight or discovery of amounts within the financial statements that aims to mislead users of the financial statements (p. 359). Kostova indicates, financial statement fraud can occur by manipulation, counterfeiting, or the alteration of financial records and information, by providing deceptive information about events, transactions, or other considerable information or the intentional omission within the financial statement, or the intentional misapplication of accounting principles could take place, in regards to the amounts, classification, presentation, and disclosure of information (p.
Kostova describes financial statement errors as being unintentional inaccuracies, alterations, or discrepancies within the financial statement, which could include the oversight or admission of an amount such as a mistake within the gathering and processing of data, recording incorrect accounting estimates due to carelessness or misconception of facts, or an error in the function of accounting principles regarding the assessment, acknowledgement, organization, presentation, or disclosure (p. 358). In reference to financial statement fraud, Kostova notes that fraud refers to the intentional act of one or more company executives, management, or employees using deceit in order to advance arbitrary or unlawful compensations over company funds (p. 358). Since fraud is such a comprehensive legal notion, auditors tend to concentrate on fraud that leads to substantial inaccuracies, alterations, or differences of the financial statement (p. 358). Financial statement fraud consists of intentional inaccuracies, alterations, and differences, which include the oversight or discovery of amounts within the financial statements that aims to mislead users of the financial statements (p. 359). Kostova indicates, financial statement fraud can occur by manipulation, counterfeiting, or the alteration of financial records and information, by providing deceptive information about events, transactions, or other considerable information or the intentional omission within the financial statement, or the intentional misapplication of accounting principles could take place, in regards to the amounts, classification, presentation, and disclosure of information (p.