Page 11 - Auditors Article

DIAGRAM 1

For Johnson and Patisserie Valerie there was little if any

internal auditing and just as importantly there was no attempt

at Patisserie Valerie to essentially limit the possibility of fraud

by recognising the factors as detailed in the Fraud Triangle

that might lead to fraud. Perhaps, control systems and
corporate governance are more appropriate than personal

relationships? It would be a truism to say that if cognizance of

the elements of the fraud triangle were followed at Patisserie
Valerie the work of the auditors would have been ameliorated.