Which of the following arguments supports the view that regulation is not necessary, particularly to the extent that it currently exists? Select one: a. Markets for information are not efficient and therefore produce a sub-optimum amount of information, given the problem of 'free riders'. b. Accounting information is like any other good, and people will be prepared to pay for it to the extent that it has a use. c. Investors need protection from fraudulent organisations that may produce misleading information. d. Information asymmetry exists because not everyone has the same power over resources to obtain the information they need.

Q: For each of the following situations indicating heightened fraud risk, discuss how a professionally…

A: During the audit, an auditor should analyze the situation and determine every perspective of frauds…

Q: Explain the difference between conservative and aggressive accounting practices.

A:

Q: ow to prevent and detect fraud, and make it less likely to occur in organization

A: Fraud is a serious issue that might bring down an organization, no matter its size. according to…

Q: Question 1 (i) Which of the following will NOT be a likely ground to blow the whistle? A. When…

A: Whistle blower means a person who has insider information that some thing is going wrong in the…

Q: Some argue that having various organizations establish accounting principles is wasteful and…

A:

Q: The following factor does not contribute to fraudulent activity? Select one: O a. Bad debt expense O…

A: Factors does contribute to fraudulent activity are given below: 1. Opportunity  2. Financial…

Q: is there is a evidence that a more robust corporate governance could avert unethical issues?

A: Corporate governance is important as it makes the rules and regulations for the smoothening of…

Q: If the security market is efficient in the weak form, then it is impossible to consistently…

A: Weak form efficiency states that past prices, historical values and trends can't predict future…

Q: Which of the following combinations is a good way to conceal employee fraud but an ineffective means…

A: The management fraud alludes to an intentional misleading by the executives to collect monetary…

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: Investors are interested in financial reporting because it provides information that is useful for…

A: Financial reporting means circulating and providing important financial information to all…

Q: Explain how serious regulatory lapses in the system is one of the difficulties associated with the…

A: The financial system is an system that facilitates the exchange of money and funds between the…

Q: The risk to investors that a company’s financial statements may be materially misleading is calleda.…

A: Information risk: The risk that arises due to the floatation of misleading or false information in a…

Q: Competition can be depended on to keep insurance rates from being excessive, and good management…

A: Insurance rates are the prices charged by the insurance for a specific unit of risk exposure. In the…

Q: Some argue that having various organizations establish accounting principles is wasteful and…

A: Given statement is: Some argue that having various organizations establish accounting principles is…

Q: What is the best way to reduce financial statement fraud?

A: There are five basic types of financial statement fraud exist in the entity which are as…

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: ounting information systems aid in the prevention of fraud? Do legislative activities such as the…

A: The accounting information system (AIS) is a programme that gathers data, processes it, and…

Q: What is the tax advantages and tax disadvantages of Sarbanes-Oxley in relations to the extent to…

A: Auditing is a process of inspecting the financial accounts of a company in order to determine the…

Q: Which of the following is not a purpose of internal controls?     Guarantee profits     Protect…

A: Internal control can be defined as a system to follow the rules and mechanism in the organisation so…

Q: Is information a public good? What market failures exist that justify government intervention?

A: Public good  The utilization of things is available for the public that can be utilized without…

Q: What is the connection between criminology and the discovery or prevention of fraud? It's not the…

A: Fraud It is the deliberate act of doing anything to get illegal items and deny the victim's rights.

Q: Which of the following circumstances that may not create familiarity threats ? a) Long association…

A: Auditor's independence is the most crucial aspect of auditing process and may be affected by…

Q: What is serious regulatory lapses in the system as difficulties in the financial system?

A: Financial system is the system where all the players are involved and exchange funds & money…

Q: Could efforts to avoid conflicts of interest lead an investment bank to provide poor service to a…

A: An investment is a financial institution that provides services to the company. Mainly, the clients…

Q: Many outside the United States claim that a problem with U.S. GAAP is that there are too many rules.…

A: IFRS (International Financial Reporting System) is gaining popularity and momentum across all the…

Q: Explain why the failure of financialstatement users to differentiateamong business failure,…

A:

Q: Which one is not the fraudulent financial reporting? Select one: a. Cash shortage b. Lack of working…

A: Fraudulent financial reporting :              The fraud practices which hinders the objective of…

Q: Information is considered material if:     it would have a bearing on decisions of those who use…

A: While preparing the books of accounts i.e. the financial statements the company needs to disclose…

Q: What trust, privacy and ethical issues do businesses need to be concerned with when trading online?…

A: The main trust, privacy and ethical concerns of business while doing online trading are as follows:…

Q: ship, so accounting standards based on ‘decision-usefulness for investors’ are misconceived. And…

A: It will cause many additional problems that the really need is the Companies Act requirement in…

Q: Explain what is meant by adverse economic consequences of new or changed accounting standards.

A:

Q: Which among the following is not an objective of Whistleblowing? a. To protect Public Interest b. To…

A: Whistleblowing is a process of making policies which helps in reduction of corruption practices and…

Q: Do you think the new revenue recognition standard introduced by the FASB-IASB can reduce the…

A: Accounting Standards: Accounting standards are definitive guidelines for monetary announcements and…

Q: Can a financial statement be manipulated? Why yes or why not? Critically discuss and evaluate it…

A: Financial statements manipulation is the manipulation of accounts which are reflected in the…

Q: Why is pro forma earnings reporting coming under scrutiny? How can you mitigate the "bad press"…

A: Pro forma earnings reporting refers to those financial statements that have hypothetical amounts as…

Q: Explain the relation between ethics and financial statement fraud by giving examples.

A: Explanation: When it comes to the preparation, presentation, and disclosure of financial results,…