ABSTRACT
The concept of misrepresentation of information in the financial statement tends to examine those items that can alter the financial affairs of on the financial concern (or an entity), audited by an auditor based on the financial statement presented by the manager on the basis of true and fair view. The establishment or introduction of the joint stock company increased the supply of capital for commerce and industry. It was therefore, necessary for the owners of the company obviously known as shareholders to delegate some of their numbers to act as Board of Directors (BOD) to take care of daily activities of the business concern.
