Skip To Main Content
This is a photograph of a business professional looking at a spread sheet through a magnifying glass.

Implementation tool for auditors: Dealing with ROMM due to fraud in revenue recognition

Learn how to identify, assess and respond to the presumed risk of material misstatement (ROMM) due to fraud in revenue recognition.

This implementation tool for auditors helps you identify, assess, and respond to the presumed risk of material misstatement (ROMM) due to fraud in revenue recognition. If an appropriate response to the assessed risks is not designed and implemented, the auditor may not have sufficient appropriate audit evidence to conclude whether the financial statements are materially misstated.

Topics include:

  • CAS 240 and its requirements
  • an approach to identifying, assessing and responding to the ROMM due to fraud in revenue recognition
  • illustrative examples
  • a list of other resources about fraud in an audit of financial statements