Fraud Examination
5th Edition
ISBN: 9781305079144
Author: W. Steve Albrecht, Chad O. Albrecht, Conan C. Albrecht, Mark F. Zimbelman
Publisher: Cengage Learning
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Chapter 2, Problem 16MCQ
To determine
The element, not a common vice, that influences individuals to commit fraud
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During the interview of a suspect in an embezzlement case, several common themes are developed that make the offense seem morally acceptable to the suspect. Which of the following is NOT commonly used with embezzlers and other fraud offenders? A. “Borrowing” versus “stealing” B. “Did it for the family” C. “Not being paid enough” D. “Protesting an unjust law”
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Chapter 2 Solutions
Fraud Examination
Ch. 2 - Prob. 1DQCh. 2 - Prob. 2DQCh. 2 - Prob. 3DQCh. 2 - Prob. 4DQCh. 2 - What are some different types of pressures?Ch. 2 - Prob. 6DQCh. 2 - Prob. 7DQCh. 2 - Prob. 8DQCh. 2 - Prob. 10DQCh. 2 - Prob. 11DQ
Ch. 2 - Prob. 12DQCh. 2 - Prob. 1TFCh. 2 - Prob. 2TFCh. 2 - Management's example or modeling is of little...Ch. 2 - Prob. 4TFCh. 2 - Prob. 5TFCh. 2 - Prob. 6TFCh. 2 - Prob. 7TFCh. 2 - Prob. 8TFCh. 2 - Prob. 9TFCh. 2 - Prob. 10TFCh. 2 - Prob. 11TFCh. 2 - Prob. 12TFCh. 2 - Prob. 13TFCh. 2 - Prob. 14TFCh. 2 - Prob. 15TFCh. 2 - Prob. 1MCQCh. 2 - Prob. 2MCQCh. 2 - Prob. 3MCQCh. 2 - Prob. 4MCQCh. 2 - Prob. 5MCQCh. 2 - Prob. 6MCQCh. 2 - Prob. 7MCQCh. 2 - Prob. 8MCQCh. 2 - Prob. 9MCQCh. 2 - Prob. 10MCQCh. 2 - Prob. 11MCQCh. 2 - Prob. 12MCQCh. 2 - Prob. 13MCQCh. 2 - Prob. 14MCQCh. 2 - Prob. 15MCQCh. 2 - Prob. 16MCQCh. 2 - Prob. 17MCQCh. 2 - Prob. 18MCQCh. 2 - Prob. 19MCQCh. 2 - Prob. 20MCQCh. 2 - Prob. 1SCCh. 2 - Case 2
A few years ago, there was a large oil...Ch. 2 - Prob. 3SCCh. 2 - Prob. 4SCCh. 2 - Prob. 5SCCh. 2 - Prob. 6SCCh. 2 - Prob. 7SCCh. 2 - Prob. 8SCCh. 2 - Prob. 9SCCh. 2 - Prob. 10SCCh. 2 - Case 11
As a new staff member in a large national...Ch. 2 - Prob. 12SCCh. 2 - Prob. 13SCCh. 2 - Prob. 14SCCh. 2 - Case 15 But I intended to pay it all back, I...Ch. 2 - Prob. 1.1CSCh. 2 - Prob. 1.2CSCh. 2 - Prob. 1.3CSCh. 2 - Prob. 2.1CSCh. 2 - Prob. 2.2CSCh. 2 - Prob. 2.3CSCh. 2 - 1. What factors in Johnson’s control environment...Ch. 2 - Prob. 3.2CSCh. 2 - Prob. 3.3CSCh. 2 - How did trust contribute to Mr. Armstrongs fraud?Ch. 2 - Prob. 4.2CSCh. 2 - Prob. 5.1CSCh. 2 - Prob. 5.3CSCh. 2 - Prob. 5.4CS
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- What is an example of incentive as one of the three elements causing a person to commit fraud?arrow_forwardWhich of the following would a fraudster perceive as a pressure? A. lack of management oversight B. everyone does it C. living beyond ones means D. lack of an internal audit functionarrow_forwardLarge fraud perpetrators are more likely to use the money for all of the following except: a. to support extramarital affairs. b. to pay taxes c. to pay for expensive vacations. d. to purchase new homes.arrow_forward
- The fraud triangle asserts that the following three factors must exist for a person to commit fraud.A. Opportunity B. Pressure C. RationalizationIdentify the fraud risk factor (A, B, or C) in each of the following situations. A worker feels that fellow employees are not honest.arrow_forward“Identity theft is often applied to a wide range of crimes, including checking account fraud, counterfeiting, forgery, auto theft using false documentation, trafficking in human beings, and terrorism, most policymakers, and researchers agree that identity theft includes the misuse of another individual’s personal information to commit fraud”. Required: Where does identity theft fraud happen often? Explain any five steps that victims should need to take once identity theft occurs.arrow_forwardFraud consists of some deceitful practice or willful device, resorted to with intent to deprive another of his right. Fraud is generally categorized as follows: Financial Statement Fraud a) May include employee theft – typically cash, physical assets (computers), or intellectual property. b) May encompass a variety of wrongful acts, such as, among others, bribes or kickbacks. c) Deliberate misrepresentation of the financial statements.arrow_forward
- Fraud is an ________ act by any person to conceal the truth, deceive and obtain illegal advantage. a. Unintentional b. Honest c. Intentional d. True and faiarrow_forwardRationalization (which is part of the Fraud Triangle and the Fraud Diamond) means making excuses for your sinful choices instead of admitting that you are evil. In Genesis 3, two people blamed someone else for their sin—Adam blamed Eve, and Eve blamed the serpent. Name a factor you think might be used as an excuse by a corporate executive to commit a financial statement fraud, and explain why he or she might think this way.arrow_forwardIf one of the three elements of the fraud triangle is not present, can fraud still be perpetrated? Explain. Identify factors (red flags) that would be strong indicators of opportunities to commit fraud. Is the ability to rationalize the fraud an important aspect to consider when analyzing a potentially fraudulent situation? What are some of the common rationalizations used by fraud perpetrators? Define and illustrate kiting. What controls should the client institute to prevent it?arrow_forward
- Fraud consists of some deceitful practice or willful device, resorted to with intent to deprive another of his right. Fraud is generally categorized as follows: Corruption a) May include employee theft – typically cash, physical assets (computers), or intellectual property. b) May encompass a variety of wrongful acts, such as, among others, bribes or kickbacks. c) Deliberate misrepresentation of the financial statements.arrow_forwardAnswer the following based on the image of the scenario A-Help management understand the issue from Jack’s perspective. Describe the ethical dilemma that Jack faces. What is the issue? Who are the parties involved? If you were Jack, what would you consider when making a decision? B-Help management understand the elements of the fraud triangle in this situation which increase the chances of fraud. Why is this fraud? What are the opportunities, motivations and rationalizations that you see? How does this affect the business financially? C-Help management come up with a plan to minimize the likelihood of this happening in the future. Be sure to mention specific components of the COSO framework.arrow_forwardAll companies are vulnerable to fraud, but small businesses are particularly vulnerable. Why do you think this may be the case? What signs of possible fraud may be more pronounced in small businesses when compared to larger ones?arrow_forward
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