Accounting Information Systems
Accounting Information Systems
10th Edition
ISBN: 9781337619202
Author: Hall, James A.
Publisher: Cengage Learning,
Question
Chapter 16, Problem 2P
To determine

Explain the types of internal frauds threats and the method of protection against each fraud threats.

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Refer to the given system flowchart, and we have discussed the control weakness and the risk associated with these control weaknesses. Based on these control weaknesses and the associated risk, what types of frauds are possible in this business environment.
For this assignment, you are to construct a diagram of the Fraud Triangle and clearly label each component of the Fraud Triangle. For each of these three components, provide the following: An explanation (two to three paragraphs) of each of the three components, specifically addressing how it could contribute to fraud. For each component of the Fraud Triangle, provide the following: List and briefly discuss internal controls for each of the three components that could help to reduce the impact of potential frauds related to that component of the Fraud Triangle. Note: This means that you will have a total of 24 internal controls documented. A few of the internal controls might be common to each component but please tailor them to the component you are referring to and do not copy and paste the same eight internal controls for each component. While APA style is not required for the body of this assignment, solid academic writing is expected and in-text citations and references should be…
Write a one-page memo analyzing the relationship between fraud and internal controls. Explain the principles underlying these approaches. Include a note on the limitations of internal controls.
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