A multimediacourse graduate used design software to create paychecks that lookedidentical to those of a company in his town.The paychecks were deposited electronically into ofhis friends’ accounts. What type of fraud did hecommit? Select one: a. output fraud. b. input fraud. c. computer instruction fraud. d. processor fraud
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- Allison Everhart, an employee in accounts payable, believes she can run a fictitious invoice through the accounts payable system and collect the money. She knows payments are subject to an audit. Which account would be the best place to hide the fraud?a. Inventory.b. Wage expense.c. Consulting service expense.d. Property tax expense.The following is a list of 10 common security problems. For each problem, describe why it is a problem and choose a control plan from this chapter that would prevent or detect the problem from occurring. Criminals posing as small business owners obtained names, addresses, and social security numbers from an organization whose business is providing such information only to legitimate customers who have a right to the data. An executive of a financial services firm implements a wireless network so that she can work at home from anywhere in her house. After setting up the network, she logs on using the default password. An organization’s top salesman uses a consumer-grade instant messaging (IM) client (e.g., AOL Instant Messaging). Such clients bypass antivirus and spam software, don’t have auditing and logging capabilities, and allow users to choose their IM names. A financial analyst’s laptop was stolen from his car. The laptop contained the names and social security numbers of…Your boss knows that you are taking a fraud examina- tion course at a local university. He is interested in learning more about data-driven fraud detection and asks you to prepare a short memo briefly explaining data-driven fraud detection methods and techniques. 1. List three data analysis methods and techniques and briefly explain them.
- All-Around Sound Co. discovered a fraud whereby one of its front office administrative employees used company funds to purchase goods such as computers, digital cameras, and other electronic items for her own use. The fraud was discovered when employees noticed an increase in the frequency of deliveries from vendors and the use of unusual vendors. After some investigation, it was discovered that the employee would alter thedescription or change the quantity on an invoice in order to explain the cost on the bill.What general internal control weaknesses contributed to this fraud?Assume that brooke miles accounts payable clerk for west coast design inc.stole $48,350 by paying fictitious companies and cashed the checks at a local banks. Describe a control procedure that would have prevented or detected the fraud?Gladys is in charge of receiving all customer payments, recording the payments, and depositing them at the bank. What element of the fraud triangle is best described here? Group of answer choices Opportunity Rationalization Incentive/Pressure Attribution Gladys has large amounts of student loan debt and a crippling gambling habit. She works part-time job in another city. What element of the fraud triangle is best described here? Group of answer choices Opportunity Fraudy fraud Pressure/incentive Rationalization
- Which of the following is NOT an example of an opportunity to commit fraud in the accounting information system? a. The need to sell confidential information from the database for cash to pay for his medical bills b. User names and passwords of most employees are stored in a shared Google document file c. The employee's discovery that passwords are not required to enter any modules in the accounting information system d. Supervisors are not required to approve transactions entered into by their staff in the accounting systemif a manager is incharge of the Credit Right Software Corp department which involves sells leading account sooftare product and two of his employess commited fraud. How should the manager prepare himself to understand what causes individuals to commit fraud and how it happens?Assume that Brooke Miles, accounts payable clerk for West Coast Design Inc., stole $48,350 by paying fictitious invoices for goods that were never received. The clerk set up accounts in the names of the fictitious companies and cashed the checks at a local bank. Please use at least 150 words to describe a control procedure that would have prevented or detected the fraud.
- You are the auditor for Konerko’s Office Supply Store, which is opening for business next week. The store owner has established all the controls you have recommended for ensuring that sales are recorded properly and cash is accounted for. The owner has heard from other small business owners that employees often used returned goods as means of skimming money from the register. a. How might an employee use returned goods to skim money from the register? b. What controls would you recommend to prevent or detect fraudulent returns? c. What audit procedures might you perform to detect fraudulent returns?You are the auditor for Konerko’s Office Supply Store, which is opening for business next week. The store owner has established all the controls you have recommended for ensuring that sales are recorded properly and cash is accounted for. The owner has heard from other small business owners that employees often used returned goods as means of skimming money from the register.Required:a. How might an employee use returned goods to skim money from the register?b. What controls would you recommend to prevent or detect fraudulent returns?c. What audit procedures might you perform to detect fraudulent returns?The best way to enact a broad fraud prevention program is toa. Install airtight control systems of checks and supervision.b. Name an “ethics officer” who is responsible for receiving and acting on fraud tips.c. Place dedicated hotline telephones on walls around the workplace with direct communication to the company ethics officer.d. Practice management “of the people and for the people” to help them share personal and professional problems.