%0 Journal Article %T Implications of Fraud and Error Risks in the Enterprise Environment and Auditor¡¯s Work %A Emil Horomnea %A Florentin-Emil Tanas£¿ %J EIRP Proceedings %D 2012 %I Danubius University %X The objective of this study is to identify and analyze the main correlations and implications offraud and error in the business environment and in the financial scandals occurred in the last decade. Theapproach envisages a synthesis and antithesis of the ideas found on this subject in the specialty literature, ofthe regulations issued by various international bodies. To achieve the established objectives, we used aconstructive methodology to identify criticism, presentations and developed a speech with view to a moreefficient and effective fraud and error risk management. The results of the study show that the major financialscandals and hence the global economic crisis are based largely on fraudulent maneuvers of significantproportions. By using "creative accounting" in fraud and error, famous companies have managed to distortreality for their performance and market position, misleading the users¡¯ perception. This study is a theoreticalhaving implications for a future empirical study.The study contributes to auditing literature diversification inthe field of risk of fraud and error. An additional perspective is gained by addressing the financial crisis andsome famous bankruptcies by way of the financial auditors activity and the fraud and error risk. %K economic crisis %K audit perspectives %K toxic assets %K financial statement %K fraud %U http://www.proceedings.univ-danubius.ro/index.php/eirp/article/view/1250/1224