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[The following paragraph was effective before December 31, 2016. See PCAOB Release No. 2015-002PDF. The current standard can be found here.]

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If, as a result of performing an examination or a review of MD&A, the practitioner has determined that there is evidence that fraud may exist, that matter should be brought to the attention of an appropriate level of management. This is generally appropriate even if the matter might be considered clearly inconsequential. If the matter relates to the audited financial statements, the practitioner should consider the guidance in AU section 316, Consideration of Fraud in a Financial Statement Audit, concerning communication responsibilities, and the effect on the auditor's report on the financial statements.