When an employee is in a position to detect and hide fraudulent activity, incompatible obligations exist. False or True?

Q: What is the knowing misrepresentation of the truth in order to trick someone into entering into a…

A: Option a is correct.

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: Which type of agent is not liable for a breach of contract by his principal:   a. undisclosed…

A: Contract: It is an agreement between two or more parties which describes the rights and duties of…

Q: Does the coverage of the Statute of Frauds make sense as it currently stands? Would it be better to…

A: Introduction:- Fraud is defined as intentional deception with the intent of gaining an unfair or…

Q: When an employee is in a position to penetrate and hide fraud, incompatible roles exist. False or…

A: Accounting fraud: Accounting fraud refers to the deliberate manipulation and illegal alteration of…

Q: T F There is added protection for whistle-blowerswho report violations of the Sarbanes–Oxley Act.

A: People who report violation to Sarbanes Oxley Act are protected as per law under Section 806 of SOX

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: 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: ndicate which of the following claims is true and which is untrue. Distinguishing responsibility for…

A: An invoice is an instrument that is used to record a transaction between the buyer and the seller.

Q: A system of internal control can be rendered ineffective by employee collusion. is premised on the…

A: Internal control is the process or system which is designed by the management so as to provide the…

Q: What motivates individuals to engage in occupational fraud?

A: Occupational frauds occur when an employee, management, officer, or owner of a company commits fraud…

Q: Incompatible duties exist when an employee is in a position tlo penetrate and conceal errors of…

A: Fraud means intentional concealment of facts or wrongful action resulting in financial or personal…

Q: What causes people to commit occupational fraud?

A: Answer:Causes of occupational fraud by people are listed below:Financial pressures:Financial…

Q: How could an employee embezzle funds by issuing an unauthorized sales credit memo if the appropriate…

A: Credit memo is generally issued by a seller to the customer which reduces the amount of account…

Q: A segregation of duties among employees eliminates the possibility of collusion   True / false ?

A: In common and general terms, Internal control plays an effective role in the management system of…

Q: Non-compliance does not include a. Professional misconduct b. Personal misconduct c. Unintentional…

A: Non-compliance means failure to comply with a rule.

Q: If the agency relationship is undisclosed, the agent is liable to the third party if they fail to…

A: A fiduciary relationship in which one person, referred to as the principal, authorizes another…

Q: Which of the following is NOT an element of the fraud triangle? a. ethics b. justifiable reliance c.…

A: Fraud: Fraud refers to a malicious act done by people to fulfill their own personal benefits. In…

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: 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: 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: Identify each of the following statements as either true or false. Separation of duties eliminates…

A: Given statement is: Separation of duties eliminates the possibility of collusion to steal an asset…

Q: Why do auditors need to differentiate between employee and management fraud? Is it the…

A: That the Company's financial statements are free of any substantial misstatements following…

Q: The root cause of agency problems is conflicts of interest.    Select one: True False

A: The correct option with Explanation are as follows

Q: “fraud   triangle

A: Fraud triangle theory explains the reasons for committing fraud.

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

A:

Q: What is employee fraud?

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

Q: What are three categories of employee fraud? Which is mostcommon? Which is associated with the…

A: Employee fraud: It refers to the situation where an employee of the organization intentionally…

Q: Opportunity, is a fraud risk factor

A: Opportunity is the chance for committing fraud. It is an element of fraud triangle.

Q: Your para-planner sends out unauthorized information to your client. Your client acts on the…

A: Paraplanners are junior members of a financial planning team. They are responsible for collating…

Q: Which of the following is NOT a possible legal risk that can arise because of a fraud investigation…

A: Malicious prosecution occurs when a person is arrested without proper grounds. For example: Person A…

Q: As a fraud investigator, why you should be concerned about fraud trials as a result of resolving a…

A: Answer:-  Fraud investigator :- Fraud investigator is that person who investigates the alleged fraud…

Q: hy do fraud examiners prefer documents over witnesses

A: Solution Concept \Fraud examiners                 Fraud examiners are the professional who examines…

Q: Individuals who believe they relied on misstated financial statements to make a decision andhave…

A: Misstatement: It can be defined as the difference between the presentation, amount, disclosure, and…

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: Describe a checks an balance scenario that allows for whistleblowing and prevents retaliation to the…

A: Solution- Retaliation is defined as a direct or indirect adverse administrative decisions or action…

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: What are the defining characteristics of (a) white-collar crime, (b) employee fraud, (c)…

A:

Q: unethical practices and fraudulent activities

A: The unethical practices mean the actions against the moral or ethical perspectives governing the…

Q: Explain when exculpatory agreements, agreements involving the commitment of a tort, and agreements…

A: