What are the elements of the fraud triangle? How can an internal control system limit reduce the risk of the elements within the fraud triangle?

Q: Explain the characteristics of management fraud.

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

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: Well-designed internal control will prevent all fraud by top management. True or False

A: A WELL-DESIGNED INTERNAL CONTROL SYSTEM WILL NOT PREVENT ALL THE FRAUD BY TOP MANAGEMENT . A…

Q: Which is not among the principles contained in the development of the science of internal control? *

A: D - Ensure objectives are met

Q: How do you understand the Fraud Triangle? Please provide explanation

A: Fraud: Fraud is an act of deception committed by an individual intentionally against the company for…

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

A:

Q: Refer to the given system flowchart, and we have discussed the control weakness and the risk…

A: Frauds in sales department are as follows: Recording fake invoices Misrepresenting the excessive or…

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?

A:

Q: of the three elements of the fraud triangle is not present, can fraud still b

A: The three elements of the fraud triangle are as follows: Pressure: Pressure acts as a base and…

Q: __________are the systems used by an organization to manage risk and diminish the occurrence of…

A: Introduction: Fraud: Fraud is a intentional deception resulting loss to other party. Fraud can be of…

Q: What is the most important factor in the fraud triangle?

A: By adopting sturdy internal controls and processes, any company might cut back the danger of the…

Q: Refer to the given system flowchart, and we have discussed the control weakness and the risk…

A: Business risks are associated with the internal control systems that every company needs to follow.…

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

A:

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: 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: 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: 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: collusion between employees and management in the commission of a fraud is difficult to both prevent…

A: Collusion means agreement between two or more people for some wrongful deed particularly for a…

Q: Refer to the given system flowchart, and we have discussed the control weakness and the risk…

A: Frauds in sales department are as follows: Recording fake invoices Misrepresenting the excessive or…

Q: A weak internal control system is which element in the fraud triangle?a. Motiveb. Attitudec.…

A: Fraud:   Fraud can be defined as an act of dishonesty that can be performed by a worker or an…

Q: There are several steps involved in the fraud theory approach. What are they?

A: Fraud theory approach is an effective tool that can help in the deeper understanding of the…

Q: The fraud triangle identifies incentives, opportunities, and rationalizations as the three elements…

A: FRAUD TRIANGLE: The fraud triangle is developed from Donald Cressey's hypothesis. The fraud…

Q: hy is fraud prevention so important?

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

Q: xplain the role of the Risk Manager in fraud detection Explain the role of the Risk Manager in fraud…

A: In the world of finance risk managers play a very important role when it comes to detection of…

Q: How can advanced technology transaction processing systems reduce fraud

A: Accounting is primarily concerned with identifying, recording, measuring, summarizing transactions…

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

A: Fraud refers to an act which is committed intentionally by one person which results in financial…

Q: risk management and internal control

A: Wirecard scandal refers to the accounting scandals that relate to the insolvency of the German…

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: 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: do COSO Internal Controls prevention fraud?

A: Internal controls are the policies and procedures put in place to protect your company's assets,…

Q: What does fraud includes?

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

Q: Whistle-blowers have played a key role in fraud detection. There are several types of…

A: Whistle-blower can be defined as the person who is generally an employee who exposes information or…

Q: Define Fraud.

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

Q: What is the major goal of the brainstorming session on fraud?

A: This question tells about the major goal of the brainstorming session on fraud.