Final Project Part One Milestone Two Guidelines and Rubric

QUESTION 10 In recent vears. organizations have implemented a number of initiatives to more proactively detect fraud. The first andmost common proactive fraud detection approach has been to: a. install reporting hotlines. Ob.conduct undercover operations. Oc. install surveillance cameras, Od. collect physical evidence. QUESTION 11 Which of the following is the foundation for all other components of internal control, providing discipline and structure? a. Open-door policy Control environment b. Whistle-blowing system Oc. Surveillance d.

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

Assignment 1: Individual research/essay You are a newly hired fraud examiner. You have been asked to write a preliminary report on the Paving Company Case scenario based on the information presented in Units 1 to 4 and findings from your additional research.  Your report should not exceed 2,000 words. The word limit is not inclusive of the bibliography and cover page.  In your response, the following points must be addressed fully: a)      Determine the type of fraud committed and describe the symptoms of fraud that might be evident to an investigator.  b)      As discussed in units 1 to 4, all frauds involve key elements. Identify and describe using examples the elements of the Sharp's fraud.  c)       In the scenario, Sharp’s employer has been putting more emphasis on controlling costs for the various businesses. With the slowing of overall spending in the construction sector, Travolta had ordered managers to closely monitor expenses. He had sold several companies and has given vice…

Discussion Questions on Fraud Prevention from Chapter 4 Fraud Examination 4th Edition 1. How do organizations create a culture of honesty, openness, and assistance? 2. What are different ways in which companies can eliminate opportunities for fraud? 3. What is the purpose of adopting a code of ethics throughout a company?

3. Analyse the measures that are taken in the detection of a fraud.4. How do you design a fraud prevention programme?

Fraud Detection and Prevention in Civil Engineering - Brief Information   Step 1: Risk Assessment and Identification   Effective fraud detection and prevention begin with a comprehensive risk assessment. Civil engineering projects involve financial transactions, procurement processes, and contractual agreements, all of which are susceptible to fraud. Identifying potential risk areas, such as billing irregularities, fake invoicing, or unauthorized changes in project scope, is crucial.   Step 2: Implementation of Internal Controls   To prevent and detect fraud, civil engineering firms should establish robust internal controls. This includes segregation of duties, where no single individual has control over an entire process, and implementing stringent approval processes for financial transactions. Regular audits and monitoring mechanisms further enhance the effectiveness of internal controls.   Step 3: Employee Training and Whistleblower Programs   Educating employees on…

6 Discuss deterrence, prevention, and detection in governmental fraud. What do you think is the best aapproach and why?

Y2 Please help with Development of an Anti-Fraud Program The potential for fraud occurs in all organizations, regardless of the industry in which it operates, financial structure, or size. Every organization is vulnerable to fraud. The risk of fraud should be reduced as much as possible to improve the longevity of the organization. Hence, preventing, deterring, and detecting fraud are crucial to the success of organizations. Deterring and preventing fraud can be more economical than detecting, investigating, and recovering from fraud after the fact. These anti-fraud measures must start at the top and must be communicated throughout the organization. They must go beyond internal controls yet consider the cost-benefit. Please explain ho to develop an anti-fraud program, or model, that can be implemented in any organization. In other words, don't apply the model to a specific organization. The model, if applied correctly, must be efficient in preventing, detecting and deterring fraud.…

AU-C 240 points to three conditions that enable fraud to occur. Briefly describe each condition. How does one’s propensity to act ethically, as described by Rest’s model of morality, influence each of the three elements of the Fraud Triangle?

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.

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.

Explain the role of the Risk Manager in fraud detection Explain the role of the Risk Manager in fraud detection

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?

Explains these controls and tell why they are important in any fraud situation:  a. Preventive controls b. Detective controls c. Leveraging technologd. Identifying the red flags NB: Answer questions a-d

41 Who among the following are secondarily responsible for prevention and detection of frauds? a. Auditor is secondarily responsible for prevention and detection of fraud b. Management is secondarily responsible for prevention and detection of fraud c. All the options d. Nomination committee is secondarily responsible for prevention and detection of fraud

{Auditing} 27. Who among the following are secondarily responsible for prevention and detection of frauds? a. Management is secondarily responsible for prevention and detection of fraud b. Auditor is secondarily responsible for prevention and detection of fraud c. All the options d. Nomination committee is secondarily responsible for prevention and detection of fraud

Question 7 Z scores are:   A. Used to evaluate the quality of imaged files   B. Used to identify outliers in data   C. A fraud score based on ISO standards   D. Issued by the SEC to identify public companies that are experiencing risk assurance problem           ReplyForward

6 Who has the responsibility to carry out the Fraud Risk Assessment (FRA)? And what skills should an individual/team have in conducting FRA?

Question 3 "Internal controls are more than just about detection and prevention of fraud in an entity." Discuss and elaborate five (5) purposes of internal controls to an organisation, and provide relevant examples that leverage on IT to fulfil each of these internal control purposes accordingly.

Question 9 Fraud risk factors are events or conditions that indicate which of the following?     An opportunity to carry out fraud     An attitude or rationalization that justifies a fraudulent action.     An incentive or pressure to perpetrate fraud.     All of the answers provided.

ISA 300 Planning an Audit of Financial Statements provides guidance to auditors. Planning an audit involves establishing the overall audit strategy for the engagement and developing an audit plan. Adequate planning benefits the audit of financial statements in several ways.Required:Identify and explain the five stages in audit process. Discuss three importance of audit planning. b) You are the audit senior in charge of the audit of Malaika Company and have been informed by your audit manager that during the year a fraud occurred at the client. A payroll clerk set up fictitious employees and the wages were paid into the clerk’s own bank account. This clerk has subsequently left the company, but the audit manager is concerned that additional frauds have taken place in the wages department.Required:i) Describe six procedures which should be undertaken during the audit of wages as a result of the manager’s assessment of the increased risk of fraud.

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

A 1 Do research and write a detailed report on the following points: 2 3 - Give the complete definition of fraud. 4 5 5 16 - After doing some research, choose an industry where fraud is regularly committed. Indicate who the parties that could be involved are, and specify the type of fraud they are likely to be involved in. - Choose a popular case where a person is known for having committed fraud. State what would be included in a portfolio of evidence of fraud against this person. - Search for a section in the Prevention of Organised Crime Act 121 of 1998, that governs fraud and state how it would be applicable in a selected business sector of your choice. - What legal recourse is available to employers when an employee has committed fraud? 7 8 - What are the most common economic crimes reported? 9 - Which industries are most affected by economic crime? 10 - What are the major trends in economic crime? 11 12 23 13 What control measure(s) can the following parties of an organisation…

How do you design a fraud prevention programme?

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…

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.

QUESTION 2 Internal audit will typically adopt a medium timeline for strategic planning purposes allowing the Chief Audit Executive (CAE) to balance assurance needs and resources within a defined budget envelope to provide reasonable assurance to audit committee and senior management. Short term or specific skills gaps can be bridged through recruitment, training or co-sourcing.   REQUIRED: Evaluate the importance of training and development particularly on technological advancement that could help to increase the quality and the success of Internal Audit in the future