Opportunity, is a fraud risk factor

Q: Answer the following questions and give an example for each case: In which areas can the…

A: What are Embezzlement scheme?  Embezzlement schemes can be defined as misuse or misappropriation of…

Q: Fraud risk factors are events or conditions that indicateI. An incentive or pressure to perpetrate…

A: Fraud: It can be defined as the deception on criminal grounds, committed by the person…

Q: The fraud triangle asserts that the following three factors must exist for a person to commit…

A: “As only one item is given in the question, it is assumed this particular answer is asked by the…

Q: What is the primary difference between fraud and error infinancial statement reporting?a. The…

A: Financial statements are those statements which are prepared at the end of the period for the review…

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

A:

Q: An audit opinion of a company’s fi nancial reports is most likely intended to:A . detect fraud.B .…

A: Audit opinion: The opinion present by an auditor of findings of the audit examination is known as…

Q: How can external auditors attempt to uncover motivations for committing fraud?

A: Fraud:   It is an intentional misappropriation of the assets or the financial records of an…

Q: Determine if false financial reporting or misuse of assets has occurred. Compare and contrast the…

A: Generally, fraudulent financial reporting happens when an international deception occurs in the…

Q: Why must auditors distinguish between fraud committed by employees and management?  Are auditors…

A: It is one of the auditor's responsibility to obtain reasonable assurance that the financial…

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

A: Fraud It is an  act of intentionally doing something to attain unlawful  things and deny the rights…

Q: the kickback is a form of fraud   often associated

A: Fraud: Fraud is a malicious act committed by people to fulfil their personal benefits. In case of an…

Q: When a company has a strong internal control structure, stockholders can expect the elimination of…

A:

Q: What is the usefulness of using the Fraud Triangle to evaluate the risk of major misstatements in…

A: This question explains about the usefulness of using the Fraud Triangle to evaluate the risk of…

Q: Fraud risk factors are events or conditions that indicate which of the following?a. An opportunity…

A:

Q: The greater the account's liquidity, the less susceptible the account is to fraud. * True O False

A: Liquid assets involve assets that are more easily convertible into cash.

Q: FRAUD-MOTIVATING FACTORSResearch has shown that situational pressures and opportunity are factors…

A: a.Factors of FraudIn the public company, Following are the two stational pressures that Would rise…

Q: The best protection for a company against telemarketing scams is:

A: When money is being transferred to people who are not known or personal or financial information is…

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: Which of the following would a fraudster perceive as a pressure?A. lack of management oversightB.…

A: Internal control techniques are those procedures or techniques which will ensure that objectives of…

Q: TYPES OF FRAUD THAT AN AUDITOR TAKES INTO ACCOUNT WHEN DETERMINING THE RISK OF FRAUD?

A: A fraud audit is distinct from a financial statement audit carried out in compliance with GAAS. In…

Q: Give instances of risk factors for false financial reporting for \seach of the three fraud…

A: Financial Reporting Fraudulently: These are reports that have been purposefully misrepresented to…

Q: Why do fraud examiners handle information in a different manner than auditors? Why is thisimportant?

A: Fraud examiners handle information in a different manner than auditors, in order to minimize the tax…

Q: Distinguish between a shell company fraud and pass through fraud.

A: Fraud: Fraud is a malicious act committed by people to fulfill their personal benefits. In case of…

Q: incentives,

A: Fraud risk refers to the risk that is unexpected and related to the financial, material, or loss…

Q: When assessing the danger of substantial falsification of the financial accounts, what is the…

A: An ethical value is the value what is perceived by a person about what is correct and what is wrong…

Q: Research has shown that situational pressures and opportunity are factors that contribute to…

A: a. Fraud: Fraud refers to an intentional act of dissembling the assets of a company. It can be…

Q: If a company reported fi ctitious revenue, it could try to cover up its fraud by: C . creating a fi…

A: Every company tries to do window dressing of its financial statements in a certain way which would…

Q: has in internal control procedures in which fraud or errors could occur? What can the company do to…

A: Every company should want to stop fraud from happening against their organization, and most…

Q: The fraud triangle asserts that the following three factors must exist for a person to commit…

A: Fraud triangle: It is the model which is created to explain about those three factors because of…

Q: In the framework of audit and assurance, we are investigating the consequences of expectation gaps…

A: Auditing is the examination of a company's financial records to establish if the documents are…

Q: What is the ethical value of applying the Fraud Triangle to assess the risk of material…

A: Fraud Triangle:   A fraud triangle refers to a framework that is used in auditing to explain the…

Q: The probability that, in the absence of internal controls, material errors or frauds could enter the…

A: Inherent risk :       As the name suggests, it is the risk which is inherent in the omission or…

Q: What fraud detection responsibilities (if any) does SOX impose on auditors?

A: Definition: Sarbanes Oxley Act: In order to protect the rights of an investor from fraudulent…

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: Collusion is an intentional act of two or more employees to accomplish theft of company assets.…

A: Internal controls main objective is to safeguard assets and records and to ensure that policies…

Q: Give examples of risk factors for fraudulent financial reporting foreach of the three fraud…

A: Fraudulent Financial Reporting:-These are the intentionally misstated report prepared for the…

Q: Why might fraud examiners’ attitudes about control systems and materiality differ from that ofother…

A: Materiality is the planning and performing the audit procedures in which certain misstatements,…

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

A:

Q: The greater the account's liquidity, the less susceptible the account is to fraud. * True False

A: Liquidity refers to the situation when a security can be easily purchased or sold in the market at a…

Q: If a company reported fi ctitious revenue, it could try to cover up its fraud by: B . increasing…

A: Companies across the world report fictitious revenue for various  reasons.  The government  tried to…

Q: Identify one specific type of accounting fraud. What damage does the perpetration cause? What could…

A: An accounting fraud refers to frauds originating from within the business (internal frauds). The…

Fraud

Fraud in accounting is the planned manipulation of financial documents to make a false appearance of corporate financial health. Moreover, it includes an employee, accountant, or the company itself misleading investors and shareholders.