Original papers must be safeguarded from damage and manipulation during a fraud investigation.

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: Frauds are often detected through the receipt of an anonymous tip, by management review, by internal…

A: Auditing is the process of checking and verifying books of accounts of the business in order to…

Q: If an IT auditor discover irregular & illegal acts during the course of his audit, what should the…

A: Answer: It is the responsibility of the auditor to report independence opinion on any audit…

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

A:

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: In a fraud examination, original documents must be protected from damage and tampering toa.…

A: Fraud examination: Wrongdoing checks require attempts to address claims or signs of wrongdoing where…

Q: What is the objectives for Internal Auditors in doing a fraud audit? Briefly explain.

A: Fraud Audit :     Any type of audit assures the risk of material misstatements and ensures the…

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: 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: What rules or policies should be developed to avoid ethical fraud issues?

A: Accounting Fraud:   Intentional manipulation of financial statement to create false financial heath…

Q: How can auditors ensure they are receiving authentic documentation, not forgeries?

A:

Q: Distinguish between an auditor’s responsibilities to detect and report errors, illegal acts, and…

A: Definition: Auditor: Auditor is an accounting professional hired by a company to review the…

Q: Define fraud examination and describe various engagements performed by fraud examiners.

A: Although the investigation of fraud shares some attributes with forensic, it is not the same…

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 one of the following is not an advantage of internal controls? Select one: a. It safeguards…

A: Internal control is an auditing and accounting tool that ensures operational efficiency and…

Q: Explain the elements of a good document of fraud..

A: Since documentary evidence makes up a large quantity of evidence in fraud cases, auditors must…

Q: What are the goals of a fraud audit for internal auditors? Explain briefly.

A: The Fraud Audit: There is a possibility of substantial misstatement with every audit form, but the…

Q: How does occupational fraud and abuse differ from other kinds of fraud? Give examples of other fraud…

A: Fraud is the intentional deception of others in order to obtain an advantage or profit. To put it…

Q: Articulate when and how to report actual or suspected fraud

A: A fraud is when the actual activity or transaction differs from the stated or recorded transaction…

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: When obtaining an understanding of the entity and its environment, including its internal control,…

A: The audit of the financial statement is required to be conducted so as to ensure that the financial…

Q: Indicate which statements are true and which are false. Internal control procedures should be…

A: Internal Control system is used by managers for monitoring and controlling business activities. It…

Q: WHAT ARE THE TWO TYPES OF FRAUD THAT AN AUDITOR TAKES INTO CONSIDERATION WHEN DETERMINING THE…

A: The auditor is responsible to check whether the financial statement gives a true and fair view of…

Q: Opportunities for fraudulent reporting are present in circumstances when the fraud is easy to commit…

A: An opportunity to commit fraud means there are chances to the person to make a fraud which will be…

Q: Outline the steps which can be taken to investigate occupational fraud.

A: Occupational fraud often refers to fraud committed by employees of an organization. This type of…

Q: Explain why collusion between employees and management in the commission of a fraud is difficult to…

A:

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: Recognize specific fraud riskareas and develop proceduresto detect fraud.

A:

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: 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 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: 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: Decide for yourself which of the following statements is correct and which is incorrect. The…

A: Whether or whether a statement is true or untrue is determined by this information.

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: 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: What procedures can auditors perform to detect fraudulent entries made during the consolidation…

A: Auditor: Auditor is an accounting professional hired, to review the financial statements prepared…

Q: fraud assessment

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

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: Distinguish between employee fraud and management fraud.

A: Employee fraud behavior occurs if an employee is falsely or fraud dedicated to its boss. The firm…

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: 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…