How is the larceny of receivables often detected?

Q: investigative techniques used  to uncover the fraud.

A: Fraud is defined as a false portrayal of the facts that cause the victim of the fraud to suffer harm…

Q: What actions to be taken on error/fraud discovery?

A: An auditor is a person who is held responsible for fraud or error detection as he or she is auditing…

Q: Explain what is meant by the fraud triangle

A: A Fraud Triangle is a framework commonly used in auditing to explain the motivation behind an…

Q: What type of fraud is this, and what controls can be implemented to prevent or detect the fraud?

A:

Q: Describe the fraud triangle andidentify conditions for fraud.

A: The fraud triangle is a concept that is frequently used in auditing to describe why someone might…

Q: What are some red flags that may indicate a cover-up or concealment of a fraud?

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Q: When can a check be a negotiable instrument

A: In finance in general and in the world of banking, trade and commerce in particular checks and…

Q: What is the primary difference between a material misstatement due to fraud or error?

A: Fraud: Fraud refers to an intended attempt to misrepresent financial statement of an entity in order…

Q: Errors/misstatements and fraud (meaning and characteristics)?

A: A misstatement is an error, either intentional or unintentional, that exist in a transaction or…

Q: Identify fraud risk factors or red flags.

A: The various fraud risk factors or red flags are: Inventory shrinkage: While it's natural to lose a…

Q: Identify potential fraud schemes related to long-lived assets.

A: The financial statements are sometimes misstated using some techniques. Such misstatement of…

Q: In fraud examiners’ terminology, what is predication?

A: Introduction: Fraud: The action of deceiving a performance for the purpose of generating illegal and…

Q: what possible internal control weaknesses occured that resulted to unintentional duplicate payment…

A: Internal Audit: An internal audit is an unconventional, committed assurance and advisory activity…

Q: How this audit fraud work exists? What is the reason behind this audit fraud?

A: An accounting error refers to unintentional act of omissions or misstatements in the financial…

Q: May an action arising from fraud be waived? explain

A: Fraud- Fraud is defined as the deliberate misrepresentation of an existing material truth by one…

Q: Responsibility for prevention and detection of fraud?

A: Fraud: It is a sharp and clever practice of the person to deceive some intentionally to secure…

Q: How can SPEs be used to manipulate financial statements? Give one real case example on the misuse of…

A: Special purpose entities are the subsidiaries created for a specific purpose. These are used to…

Q: what types are frauds are possible in revenue cycle?

A: Introduction: The revenue cycle is a method of defining and maintaining the processes used for the…

Q: hy is fraud prevention so important?

A: Fraud in auditing refers to the illegal manipulation or wrong altered information reported in the…

Q: How does the study of criminology relate to the detection or deterrence of fraud?

A: Fraud refers to a situation when there is some false facts or details have been presented or the…

Q: What are the objectives in doing a fraud audit? Explain.

A: Fraud audit is a detailed examination into the financial records of the business with the intent of…

Q: Describe what is difference between errors and fraud.

A: Difference between fraud and error: Fraud refers to an intended attempt to misrepresent financial…

Q: If one of the  three elements of the fraud triangles is not present, can fraud be still perpetrated?…

A: All three elements of fraud has to be present for fraud to occur. Even if one of the element is not…

Q: Which of the following cannot be encashed but instead merely deposited? stale checks post dated…

A: The checks that can only be deposited not encashed are crossed checks. It is also called an account…

Q: Liability/expense omission is the preferred and easiest method of concealing liabilities/expenses.…

A: Expenses are the costs which are incurred during the daily operations the business. Error of…

Q: Define the term fraud.

A: Fraud in General: When someone uses misleading or false information with full intentions so that he…

Q: What does a fraud perpetrator look like? How does one act?

A: Fraud: It is defined as an intentional or willful misstatement of facts which are necessary for the…

Q: How do you asess the risk of material misstatement associated with the audit of cash?

A: The risk of material misstatement seems to be the result of a mix of inherent and control risks. In…

Q: fraud assessment

A: Following the coronavirus outbreak, the businesses are becoming more and active and they try to…

Q: Give an example of fraud and error?

A: Fraud is an intentional manipulation of a fact with the intention of misleading an individual or a…

Q: Explain how to conduct a fraud risk assessment

A: A fraud risk assessment is a detective and preventive tool used by an organization to identify,…

Q: How is net worth analysis used to prove fraud?

A: Net worth: It is the difference between total value of asset and liabilities. If net assets exceed…

Q: What items could indicate a significant risk of fraud in the acquisition and expenditure cycle…

A:

Q: What does fraud includes?

A: Fraud:   It is the practice of intentional misrepresentation of facts to make financial or personal…

Q: How do fraud symptoms help in detecting fraud?

A: Fraud symptoms are indicators used by investigators to identify the perpetrator. These fraud…

Q: Define Fraud.

A: In terms of auditing , Fraud refers to intentional misrepresentation or concealment of material…

Q: ud audit?

A: Accounting fraud occurs when an entity, such as a company or government, deliberately falsifies its…

Q: Why are related-party frauds more difficult to detect than frauds with no related parties?

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Q: What is Enron fraud and why is it important

A: Enron fraud is one of the biggest accounting fraud happened in the United States.

Q: WHAT ARE THE TWO TYPES OF FRAUD THAT AUDITOR CONSIDERS IN ASSESSING THE PROBABILITY OF FRAUD?

A: Fraud is an intentional act done by management, those charged with governance, and internal…

Q: Explain what is the scope of the fraud audit?

A: Audit is the examination or inspection of books of accounts by an auditor followed by physical…