Malware and Misstatement: Difference between pages

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imported>Doug Williamson
(Create the page. Source: Techterms https://techterms.com/definition/malware)
 
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Malware is an abbreviation for 'malicious software'.
1.  ''Financial reporting - audit.''


These are software programs designed to damage a computer system or to do other unwanted or unauthorised actions on it.
In financial reporting, misstatements are differences between amounts reported - or other disclosures - in financial statements, and the amounts or disclosures required by relevant accounting standards.


Examples include viruses, worms, trojan horses, spyware and ransomware.
Misstatements may be a result of error or of fraud.




==See also==
Types of misstatement include factual misstatements and judgmental misstatements.
*[[Cyber security]]
 
*[[Cyberthreat]]
Misstatements include omissions.
*[[Ransomware]]
 
 
In cases of identifying material misstatements, auditors will be unable to give an unqualified audit report.
 
 
2. ''Law.''
 
Any false statement, not necessarily one made between two parties forming a contract together.
 
 
== See also ==
* [[Accounting standards]]
* [[Audit]]
* [[Auditors’ report]]
* [[Contract]]
* [[Disclosure]]
* [[Factual misstatement]]
* [[Financial reporting]]
* [[Fraud]]
* [[Fraudulent misrepresentation]]
* [[Innocent misrepresentation]]
* [[Judgmental misstatement]]
* [[Law]]
* [[Material]]
* [[Misrepresentation]]
* [[Negligent misrepresentation]]
* [[Negligent misstatement]]
* [[Qualified audit report]]
* [[Unqualified audit report]]
* [[Window-dressing]]
 
[[Category:Accounting,_tax_and_regulation]]
[[Category:The_business_context]]

Revision as of 12:58, 20 July 2021

1. Financial reporting - audit.

In financial reporting, misstatements are differences between amounts reported - or other disclosures - in financial statements, and the amounts or disclosures required by relevant accounting standards.

Misstatements may be a result of error or of fraud.


Types of misstatement include factual misstatements and judgmental misstatements.

Misstatements include omissions.


In cases of identifying material misstatements, auditors will be unable to give an unqualified audit report.


2. Law.

Any false statement, not necessarily one made between two parties forming a contract together.


See also

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