Discussion 10 i

1. How do you understand Fraud in your own words? Please provide explanation. 2. How do you understand the Fraud Triangle? Please provide explanation. 3. Favorite topic in Forensic Accounting? 4. What recommendations will you give to prevent fraud? 5. Will you consider becoming a Fraud investigator in the Future? Why or why not.

Answer the following from Chapter 7 of the textbook (write a one page response for each question):  Discussion Question 37:  Explain why Benford's Law is useful to auditors in the detection of fraud.

You are an induction and training officer for Maher Public Accountants, a leading accounting firm based in Dublin, Ireland. You are due to give a training course to a group of newly recruited audit trainees in fraud and error. This is a particularly important course and audit trainees from previous cohorts have acknowledged the benefit of the course in their feedback. The current cohort of audit trainees are particularly interested in understanding their responsibilities and those of the directors in the area of fraud and error. Required:Prepare material for the audit trainees as part of the induction pack which covers the following:(a) Identify and distinguish the responsibilities of the auditor and the directors with regards to fraud.  (b) Discuss the steps undertaken by auditors when they detect and suspect fraud.  (c) Critically examine the limitations of audit procedures in detecting fraud and error.

Forensic Accounting: Assurance Engagement 2: Net Worth Analysis. You can use the computer-based Electronic Workpapers on the textbook website to prepare the net worth analysis required in this problem.Net worth analysis is performed when fraud has been discovered or is strongly suspected and the information to calculate a suspect’s net worth can be obtained (e.g., asset and liability records, bank accounts). The procedure used is to calculate the person’s change in net worth (excluding changes in market values of assets) and to identify the known sourcesof funds to finance the changes. Any difference between the change in net worth and the known sources of funds is called funds from unknown sources, which might include illgotten gains.Nero has worked for Bonne Consulting Group (BCG) as the executive secretary for administration for nearly 10 years. Her dedication has earned her a reputation as an outstanding employee and has resulted in increasing responsibilities. Nero is also a…

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Go to the FBI websiteLinks to an external site. and use the search box in the top right corner to conduct a search on financial fraud. The FBI site provides numerous descriptions of financial fraud cases that they have prosecuted, which would be Julie Kronhaus who was a well-regarded estate planner with impressive training and credentials. She was a licensed attorney, a certified public accountant, and had earned a master’s degree in taxation. Unfortunately, she was also home-schooled in fraud.  Use the profiling methods described in the chapter to perform a due diligence search and collect all the internet information that you can about this individual. The information that you collect can include news reports, addresses either physical or virtual, education background, etc. Document where you found the information by including the name of the website and its URL. has to be in powerpoint with 3-4 slides and voiceover.

Go to the FBI websiteLinks to an external site. and use the search box in the top right corner to conduct a search on financial fraud. The FBI site provides numerous descriptions of financial fraud cases that they have prosecuted, which would be Julie Kronhaus who was a well-regarded estate planner with impressive training and credentials. She was a licensed attorney, a certified public accountant, and had earned a master’s degree in taxation. Unfortunately, she was also home-schooled in fraud.  Use the profiling methods described in the chapter to perform a due diligence search and collect all the internet information that you can about this individual. The information that you collect can include news reports, addresses either physical or virtual, education background, etc. Document where you found the information by including the name of the website and its URL.

Other than becoming a CFE, what could you do to become a fraud specialist? Please provide references with URL.

Answer the following based on the image of the scenario A-Help management understand the issue from Jack’s perspective. Describe the ethical dilemma that Jack faces. What is the issue? Who are the parties involved? If you were Jack, what would you consider when making a decision? B-Help management understand the elements of the fraud triangle in this situation which increase the chances of fraud. Why is this fraud? What are the opportunities, motivations and rationalizations that you see? How does this affect the business financially? C-Help management come up with a plan to minimize the likelihood of this happening in the future. Be sure to mention specific components of the COSO framework.

Please help ASAP. Clearly define the answers for the following questions. (use at least 10 sentences for each , thanks) Question 1: Explain how a detection of fraud may not necessarily mean that fraud exists. Question 2: Who are District Attorneys and what is their function within the court system?Question 3: For paper or any perishable documents, the forensic accountant should follow what basic rules?

You are a newly hired fraud examiner. You have been asked to write a preliminary report on thescenario below.  The Dude Fraud CaseIn his own words, Daniel Jones was “The Dude.” With his waist-long dreadlocks, part-time rockband, and well-paid job managing a company’s online search directory—he seemed to have itall. Originally from Germany, Jones, now age 32, earned his doctorate and taught at theUniversity of Munich before coming to the United States, where he started his career incomputers. In 1996, Jones started working with the company as a director of operations for U.S.-Speech Engineering Service and Retrieval Technology—working on a new, closely guardedsearch engine tied to the company’s .net concept.The company allows employees to order an unlimited amount of software and hardware, at nocost, for business purposes. Between December 2001 and November 2002, Jones ordered or usedhis assistant and other employees (including a high school intern) to order nearly 1,700 pieces…

Please help ASAP. Clearly define the answers for the following questions. (use at least 10 sentences for each , thanks) Question 1: Explain and give examples of the use of a fraud theory. Question 2: Outline the Fraud Triangle and give two examples of each element

What is the importance of Forensic Accounting and Fraud Detection? Please give as much information as possible. Thanks!

Create a hypothetical ethics case then describe the guidance that applies to the issue. The simplest was to complete this assignment is to use any ethical dilemma that you may have encountered in professional practice or review the AICPA Code of Conduct or the IRS Circular 230 then inventing an ethical situation based on one of these sources. Also, you can use news stories, any disciplinary actions on state CPA websites. After you describe the situation in a case format, then search and locate the ethics guidance that addresses the issue. Use this format: 1. What inspired this case idea? 2. Describe the situation in case format 3. Outline the applicable guidance and how it should be applied to this issue

Discussion Topic: What is Fraud? Forensic accountants and fraud examiners provide support for accusations of fraud. To be effective, they must understand the difference between fraud and abuse, and must understand the legal concept of fraud, as well as elements of fraud. How does fraud differ from abuse? Give an example of each. What are the legal elements of fraud? (Hint: there are four!); explain each element.

Computer-assisted audit techniques (CAATs) are becoming more popular in recent years. Select two CAATs and explain how they are useful in auditing. Suggest a method that someone with fraudulent intentions could use to work around the CAAT for personal gains. Be sure to respond to at least one of your classmates' posts.

Browse the internet to identify a recent case (within the last five years) related to cybercrime or identity theft. Provide details on the following, in a PowerPoint presentation with speaker notes: Give a brief overview of the company or situation. What were the risks and issues in the case? Evaluate the ethical issues and privacy concerns involved in the case including possible controls to mitigate the risks.

Sarah, a friend of yours, recently started her own business, The Bike and Boulder Company (B&B). B&B specializes in the sales of mountain bikes and rock climbing equipment. Sarah is putting the finishing touches on her company policies and procedures. She knows you are taking a fraud class and asks you to review what she has completed thus far. You quickly notice that Sarah has neglected to address fraud and fraud prevention in her policies and procedures. What policies and procedures would you suggest Sarah implement to prevent and detect fraud at B&B?

Select the correct answer(s) for the following multiple-choice questions. Note that there may be more than one correct answer. Cyber sleuths need the following skills: a. Ability to do complex programming so they can develop their own software to examine corporate data and records. b. Ability to follow a trail, think analytically, and be thorough. c. Ability to use their computer engineering experience to evaluate the hardware used by the company d. Ability to think like a fraud perpetrator and use hacking tools and techniques. e. Ability to use their legal training to properly prepare the evidence needed to prosecute perpetrators

Understanding what constitutes fraud and understanding the framework are a part of developing an internal control program. The fraud triangle is a framework that is used to understand and explain what the motivation could be when a person decides to commit fraud. Thinking about the fraud cases that you are aware of, how would the fraud triangle explain fraudulent behavior?

Please watch the following video, which introduces you to the concepts of horizontal and vertical analysis. The first 6 minutes defines these concepts, after which the professor in the video discusses an example of their usefulness for assessing theft and locating unrecorded revenues.   Accounting: Horizontal & Vertical Analysis (13:13 min) Once you have watched the video, write a paragraph that includes the following components:   Define horizontal and vertical analysis in your own words. Explain why horizontal and vertical analysis can be valuable to a company. Describe how it might apply to either your own employer or another business you know of.

After finishing your accounting degree, you joined an accounting firm. This is a medium-size accountingfirm with a reasonable range of clients. You are in an engagement meeting with one of your clients, andyour client's management raises some concerns. In particular, the management is concerned that theaudit tests that you perform will disrupt operations. Your client has recently implemented a datawarehouse. The management suggests that you draw the data for analytical reviews and substantivetesting from the data warehouse instead of the operational database. Further, the management pointsout that operational data are copied weekly into the data warehouse, and all data you need are containedthere.Required: Based on the given scenario, outline your response to the management's proposal and mentionany concerns you might have.

You are an audit graduate working for an audit firm. A client has said to you that you seem to be endlessly documenting matters and queries is this necessary as it is undoubtedly increasing the cost of the audit. REQUIRED Succinctly explain what your answer to the client should be.

You are a forensic accountant for a public accounting firm whose client hired your team to perform a fraud investigation of the accounts payable processes. As part of your fraud testing, you have acquired vendor data including bank accounts to which payments are sent and employee data including bank accounts for direct deposit of paychecks. You need to compare the main vendor table to the main employee table to search for potential fictitious vendors. Analyze the fields in the two tables on the next page, looking for identical or similar fields. Based on what you find, identify three red flags for accounts payable fraud. Provide the record numbers from the tables in your answer.   Vendor record #       Employee Record# ________               ___________ ________             ____________ _________            ____________

You are a forensic accountant for a public accounting firm whose client hired your team to perform a fraud investigation of the accounts payable processes. As part of your fraud testing, you have acquired vendor data including bank accounts to which payments are sent and employee data including bank accounts for direct deposit of paychecks. You need to compare the main vendor table to the main employee table to search for potential fictitious vendors. Analyze the fields in the two tables on the next page, looking for identical or similar fields. Based on what you find, identify three red flags for accounts payable fraud. Provide the record numbers from the tables in your answer.   Vendor record #       Employee Record# ________               ___________ ________             ____________ _________            ____________

You were recently hired by the CPA firm Honson & Hansen. Before you start working, the firm requires that you participate in the first-year staff training course. The instructor asks you to prepare answers for the following questions: a. How is audit evidence defined? b. How is the collection of audit evidence related to management assertions? c. What are the two key characteristics of audit evidence that an auditor must consider when evaluating the quality of the evidence? Describe the meaning of each of these characteristics in the context of auditing.