Giving examples to illustrate your answer, explain what is meant by a fraud risk factor and the
Question:
Giving examples to illustrate your answer, explain what is meant by ‘a fraud risk factor’ and the role of such factors in auditors’ detection of fraud.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (QA)
A fraud risk factor is a situation or characteristic that indicates a higher possibility of fraudulent activity occurring in an organization or system ...View the full answer
Answered By
PALASH JHANWAR
I am a Chartered Accountant with AIR 45 in CA - IPCC. I am a Merit Holder ( B.Com ). The following is my educational details.
PLEASE ACCESS MY RESUME FROM THE FOLLOWING LINK: https://drive.google.com/file/d/1hYR1uch-ff6MRC_cDB07K6VqY9kQ3SFL/view?usp=sharing
3.80+
3+ Reviews
10+ Question Solved
Related Book For
Principles Of External Auditing
ISBN: 9780470974452
4th Edition
Authors: Brenda Porter, Jon Simon, David Hatherly
Question Posted:
Students also viewed these Business questions
-
Giving examples to illustrate your answer, explain what is meant by 'a fraud risk factor' and the role of such factors in auditors' detection of fraud.
-
Multiple Choice Questions Select the best answer for each of the following. Explain the reasons for your selection. a. In planning and performing an audit, auditors are concerned about risk factors...
-
Summarize the concept of difference in enforcement of accounting standards: Differences in countries institutional settings have long been recognized in accounting research. Countries have been...
-
Density is not routinely measured in the atmosphere. Why is this not a problem for atmospheric scientists?
-
How strong is the electric field between the plates of a 0.80-F air-gap capacitor if they are 2.0mm apart and each has a charge of 72C?
-
1. What immediate and longer-term issues does Googles censorship decision create? 2. Prior to the launch of Google.cn, what factors should Google have considered in reaching their decision to comply...
-
Match the term with its definition by placing the corresponding letter in the space provided: 1. A written promise to pay a specified amount of money at a particular future date 2. The date when...
-
Johnson Electronics makes calculators. Consumer satisfaction is one of the top priorities of the companys management. The company guarantees the refund of money or a replacement for any calculator...
-
In Exercises 31-36, find the exact value of the expression 31. sin 330 cos 30 - cos 330 sin 30 32. cos 15 cos 60 + sin 15 sin 60 12 TT COS 12 4 33. sin TT 3T 34. cos COS 16 16 TT TT sin + cos 12 4 -...
-
Outline the procedures auditors may perform: (i) To assess the risk of the financial statements being materially misstated as a result of fraud. (ii) To respond to the possibility of the financial...
-
In the context of detecting fraud, explain the purpose of a discussion among audit engagement team members.
-
Read RFC 959 for FTP. List all of the client commands that are supported by the RFC.
-
How do CRISPR-Cas systems provide insights into the co-evolutionary arms race between bacteria/archaea and their phages/plasmids, and how can this knowledge be applied in phage therapy and...
-
You are a network administrator at Woodgrove Bank. Before implementing Active Directory and Exchange Server 2007 within your organization, you wish to investigate how DNS and SMTP work to relay email...
-
SIMPLE convenience store is arranging a promotion plan for the next season. The marketing team wants to select 600 registered customers for a survey to get some ideas for the promotion. In the...
-
Explain the molecular mechanisms of CRISPR-Cas9-mediated RNA-guided DNA cleavage, including the formation of the Cas9-RNA-DNA complex and the mechanisms of target recognition and cleavage .
-
Why are airlines no longer held to a strict liability standard? Why is it important to distinguish between property damage and economic loss? What is the difference between a design defect and a...
-
Refer to the situation described in BE 11-7. Assume that instead of changing the useful life and residual value, in 2011 the company switched to the double-declining-balance depreciation method. How...
-
You are standing at x = 9.0 km and your assistant is standing at x = 3.0 km. Lightning bolt 1 strikes at x = 0 km and lightning bolt 2 strikes at x = 12.0 km. You see the flash from bolt 2 at t = 10...
-
A woman with extensive experience in home health care and a good marketing plan has approached a bank for a loan, most of which she has explained she intends to invest in advertising designed to...
-
Could the idea of mass customization be used by a publisher of college textbooks to allow different instructors to order customized teaching materials perhaps even unique books made up of chapters...
-
Give examples of two different ways that a firms production capacity might influence a marketing managers choice of a marketing strategy.
-
Accounts Payable had a normal beginning balance of $1,200. During the period, there were debit postings of $300 and credit postings of $800. What was the ending balance?
-
Swift Corporation has a beta of 1 . 2 5 . Based on current market conditions, the required return on the Swift Corporation's common stock is 1 1 . 0 % . Global events have introduced greater risk...
-
At May 3 1 , 2 0 2 2 , the accounts of Blossom Manufacturing Company show the following. May 1 inventories - finished go ds $ 1 5 , 6 2 4 , work in process $ 1 8 , 2 2 8 , and raw materials $ 1 0 , 1...
Study smarter with the SolutionInn App