Auditing best practices: What academic fraud research reveals

Auditors are expected to comply with the requirements in AU-C Section 240, , in conducting financial statement audits. As academics who perform fraud research, we were recently asked by the AICPA's Auditing Standards Board (ASB) to synthesize contemporary auditing research related to the auditor's identification, assessment, and response to fraud risks, and to communicate any revealed best practices. We identified 40 fraud-related studies published in highly regarded accounting journals between 2016 and 2022, along with several unpublished studies available on