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fraud examination

Forensic Accounting And Fraud Examination 2nd Edition Mary Jo Kranacher, Richard Riley - Solutions

Which of the following is not part of the remediation process as it relates to fraud examination and forensic accounting?1. Identify and assess the control weaknesses that led to the original investigation.2. Assist in the recovery of money and assets.3. Testify, if needed.4. Investigate fraud act
In a civil lawsuit, an injured party must demonstrate three attributes to recover money. Which of the following is not one of those attributes?1. The defendant was the proximate cause of the damages.2. The defendant caused the damages.3. Reasonable certainty with regard to the amount of damages.4.
Which of the following is not an asset available for recovery?1. Money 2. Damaged asset value 3. Lost credit rating 4. Market declines
Select the statement that is least accurate:1. “Following the money” can only be performed if those assets remain in their original identifiable form as they flow from place to place or person to person.2. “Following the money” and “tracing the money” are essentially the same
Which of the following is not a legal mechanism to recover assets through the civil or criminal justice systems?1. Jury order 2. Freezing order 3. Judgment 4. Forfeiture
Which of the following is least accurate with regard to a fact witness versus an expert witness?1. Fact witnesses may offer opinions based on specialized knowledge required as part of their normal responsibilities.2. Expert witnesses are limited to testify about firsthand facts and knowledge.3. The
Of all the attributes necessary for an investigation to be successful, with which of the following characteristics should the professional be most concerned?1. Credibility 2. Defendable report 3. Winning cross-examination 4. Professional demeanor
Related to cross-examination, which of the following statements is most accurate?1. Opposing counsel will know the expert’s field.2. Opposing counsel is not permitted to challenge the expert’s credibility unless errors are discovered.3. Opposing counsel will attempt two goals: destroy the
Which of the following is most accurate with regard to a deposition?1. Depositions are far more pleasant than trial testimony.2. The credibility of the expert witness is more important during deposition testimony.3. Engagement counsel will likely ask more questions during a deposition than opposing
Which of the following is not considered part of corporate governance?1. Executive management 2. Consultants to the board of directors 3. The audit committee 4. Internal audit
Continuing to focus on evidence associated with the act, concealment, and conversion, use the evidentiary material to continue the examination. In addition, as the examiner also start to think of terms of who, what (did the person(s) do), when (during what period?), where (physical place, location
Which of the following is one of the major approaches for testing IT system controls?1. Audit the output from the information systems.2. Audit the control logs for systems implementations and changes.3. Rely on the auditor for the software systems provider used by the client.4. Audit input,
Computer-aided audit tools and techniques can be used in all of the following areas except___.1. Examination of IT personnel 2. IT systems control environment 3. Creating data and performing system walk-throughs 4. Examination of application controls
Which of the following is not considered an application of computer forensics?1. Ensure the integrity and chain of evidence associated with digital evidence 2. Examine the content of email transmissions 3. Image and capture data housed on storage devices associated with PDAs, cell phones, and
Which is the most accurate statement with regard to using data extraction and analysis software to highlight red flags of fraud?1. Data extraction and analysis work product often points directly to the culprit.2. Data extraction and analysis work product is often the most relevant evidence a jury
Which of the following is not a data extraction and analysis software product?1. IDEA 2. Excel 3. PowerPoint 4. ACL
Which graphics presentation likely plays the smallest role in an investigation?1. Association matrix 2. Link charts 3. Flow diagrams 4. Timelines
Upon completion of graphics analyses, which of the following is not a likely outcome?1. Identification of investigative shortcomings that require additional follow-up 2. Evidence of the alleged culprit’s psychological condition 3. The ability to use the analyses to communicate investigative
In which of the following situations is case management software least likely to benefit an investigation?1. A terrorism financing case using shell companies and charities 2. Organized criminal activities incorporating money laundering techniques in legitimate business organization 3.
Assume the following: A female perpetrator whose husband is diagnosed with a rare form of Leukemia. The family has no health insurance. Cancer treatments are very expensive. The family has taken the maximum amount of loans available to pay for treatment costs. Finally, giving up in despair, the
Assume the following: A male perpetrator studies the new national health-care bill adopted by Congress and signed by the President. Assume that the male perpetrator, in accordance with health-care bill provisions, sets up a claims processing company. While he processes some legitimate claims for
Which of the following best describes situations with complex frauds and financial crimes?1. Organizations associated with complex frauds and financial crimes often dismantle legitimate businesses.2. Organizations associated with complex frauds and financial crimes often involve single individuals
Select the statement that is least accurate:1. “Following the money” can only be performed if those assets remain in their original identifiable form as they flow from place to place or person to person.2. “Following the money” and “tracing the money” are essentially the same
Which of the following statements regarding collusive frauds and financial crimes is most accurate?1. Internal controls are more likely to be effective in the detection versus the prevention or deterrence of collusive fraud.2. Collusive frauds, including financial statement fraud, do not present
Which of the following is not considered a complex fraud?1. Embezzlement 2. Local, street corner drug trafficking 3. Domestic terrorism financing 4. International money laundering
Which of the following is not an approach used to combat money laundering in cyberspace?1. Identify and reduce the ability to make anonymous financial transactions.2. Require confidential financial transactions.3. Coordinate international money movement regulations.4. Facilitate international
List and describe various types of (digital) viruses.
Which of the following is true concerning computer fraud and computer crime?1. Computer crime is defined as an act where the computer hardware, software, or data is altered, destroyed, manipulated, or compromised.2. Computer fraud and computer crime are seldom used interchangeably.3. Law
Which of the following is most accurate concerning the role of digital devices in cybercrime?1. Digital devices can be integral to the act, but seldom the concealment or the conversion associated with a fraud or financial crime.2. Digital devices are considered ineffective when attempting to
Which of the following type of economic damages related to computer crimes is not considered a special case?1. Physical injury to a person 2. Damage to a computer that could have an impact on national security 3. Threats to public health or safety 4. Damage to a computer that causes a company to
Which of the following is not associated with increased risk regarding insider cyber fraud?1. Supervisors can implement strict controls over information system personnel.2. Insiders are often aware of the “holes” in the system of internal controls in the digital environment.3. Operators, media
Which of the following statements is most accurate with regard to “hacking”?1. Logic bombs and data leakage are not considered forms of hacking.2. Social engineering is a required tool of hackers.3. The most direct way of gaining access to a computer is through “back doors” in software
Which of the following can investigate but not prosecute domestic Internet crimes?1. Bureau of Alcohol, Tobacco, Firearms, and Explosives (ATF)2. Internet Crime Complaint Center (IC3)3. United States Postal Inspection Service 4. Federal Bureau of Investigation (FBI)
Why is Internet fraud particularly difficult to police?1. More people are online feeding leads to police.2. Con artists are more convincing online than they are when operating in person.3. Nearly 70% of Internet consumers are shredding documents, destroying required transaction information needed
Which of the following statements is not a process control?1. A. Reconciliations 2. B. Employees who disburse cash should not make changes to the vendor master file 3. C. Analyses that include expectations and anticipated relationships 4. D. Periodic audits
Which of the following is most accurate regarding crime in cyberspace?1. Money laundering is seldom carried out in cyberspace.2. PayPal is a form of money laundering in cyberspace.3. The ability to make oneself anonymous in cyberspace is an important advantage to the criminal.4. Crimes carried out
Which of the following statements is most accurate with regard to cybersecurity?1. Piggybacking and impersonation are viruses susceptible to antivirus software.2. The E-SIGN Act resulted in improved cyber security.3. Passwords are the most effective form of authenticating valid users.4. Biometrics
Why is the Internet such an attractive operational location for criminal enterprises?1. Criminals can profit by stealing and selling information.2. Cyberspace gives criminals a worldwide reach.3. The World Wide Web is relatively anonymous.4. All of the above.5. None of the above.
The HR (human resources) department has requested some assistance. They would like to identify all employees who are not withholding the maximum savings amount for the 401K retirement plan of 6% to invite them to some retirement planning training sessions.Students should(a) examine the listing of
How much cash did Mr. Ames receive from the Soviet Union for spying?
Describe the reasons why the CIA investigation failed.
Develop eight (8) questions that you as an investigator would like to ask Mr. Ames (2 open-ended, 2 closed-ended, 2 leading, and 2 admission-seeking questions).
As a follow-up, you understand that Mr. Quincy felt crushed by his credit card and mortgage debt, is that right?
Can you tell me a little about your responsibilities in your position?
Which of the following is not a step in the targeted fraud risk assessment process?1. Identify the parties who have the ability to commit the potential fraud.2. Place the parties who most likely committed the potential fraud under arrest to illicit a confession.3. Identify, understand, and evaluate
Which of the following is not considered a reason for the incorporation of nonfinancial numbers in fraud detection efforts?1. Nonfinancial numbers have little use in fraud detection because it is financial numbers that have been manipulated.2. Management wants operations to run smoothly and many
Considering the targeted fraud risk assessment process, which of the following is most accurate?1. The targeted fraud risk assessment process is centered on the likelihood (probability) and magnitude (dollar value) that fraud will occur.2. The targeted fraud risk assessment process is centered on
What is meant by invigilation?
What are some ways used to hide assets?
Which of the following is not true with regard to predication?1. Predication is generally the starting point for a fraud examination.2. Predication would suggest that the suspected perpetrator should be interrogated.3. Once the predication threshold has been reached, the need to consider issues
Which of the following attributes of a fraud examination often provides the most compelling evidence of intent on the part of a fraudster?1. Perceived pressure 2. The fraud act 3. Conversion 4. Concealment
Which of the following is not true with regard to evidence?1. Evidence is anything legally admitted at trial.2. Evidence is anything perceivable by the five senses: sight, hearing, touch, smell, and taste.3. Evidence is coincidental with proof.4. Evidence is anything relevant to the issue under
Which of the following is not one of the three types of evidence that may be offered at trial?1. Fingerprints 2. Demonstrative 3. Testimony 4. Real
Which of the following is most accurate with regard to interviewing and interrogation?1. Interviewing and interrogation are synonymous and are used interchangeably by investigators.2. Interviewing is centered on information collection while interrogation is used to solicit a confession.3.
Which of the following is not a method by which documents may be altered?1. Erasure 2. Shredding 3. Chemical washing 4. Eradication
Which of the following is not considered an item that may be utilized for concealment and thus a resource for investigators?1. Authentic documents 2. Reconciliations and reconciling items 3. Journal entries 4. E-mail communications
By what percentage could Bristol Myers earnings have declined in 2002 as a result of the fraud?
What was the first period that the SEC believed that Bristol Myers “stuffed the channels?”
Was channel stuffing the only scheme perpetrated by Bristol Myers? If the answer is “no,” name one other scheme.
What were the names of the marketing efforts that helped drive the need to channel stuff?
How much was the fine in the deferred prosecution agreement?
What was the total amount of fines and penalties levied against Bristol Myers?
Why are revenue recognition frauds such a frequent problem for the SEC?
What red flag symptoms might revenue recognition create and how might one best discover a revenue recognition fraud?
Which of the following is not considered a benefit of strong interviewing and interrogation skills?1. Reduced investigation time 2. Indirect evidence of the culpability of the guilty party 3. The elimination of innocent subjects or targets 4. Increased probability of investigative success
Which of the following is a suggested approach for properly conducting interviews?1. To ensure accuracy, the interviewer should keep the discussion specific, even if it means using technical terms.2. The distance between the interviewer and the interviewee should be about six feet.3. Handcuffs are
Which of the following is not one of the five types of interview and interrogation questions.1. Informational questions 2. Closing questions 3. Introductory questions 4. Rapport-seeking questions
Which of the following is not a goal of introductory questions?1. Establish a theme for the interview.2. Establish a baseline for interviewee reactions.3. Solicit the confession before the interviewee is expecting it.4. Obtain a commitment for assistance.
Which of the following is true?1. The following is an open question: “Did you approve this fictitious company as a vendor?”2. The following is an informational question: “You weren’t really in Vegas when the fraud was perpetrated, were you?”3. The following is a leading question: “What
Which of the following is a purpose of admission-seeking questions?1. To develop the proper theme that will achieve the desired confession 2. To determine if a Miranda warning is required 3. To interrupt denials and repeat the accusation until the culpable person confesses.4. To clear innocent
Which of the following is not a reason for obtaining a written confession from the subject of an investigation?1. A written confession will hold up better than a video-taped confession because the video tape is cumbersome in court.2. A written confession helps establish the intent of the
When judging deception, which of the following is mostaccurate?1. Stressful reactions are indicative of lying.2. A single stress reaction is enough to heighten suspicions ofculpability.3. Clues to deception can be nonverbal as well as verbal.4. When judging deception, interviewers need to be
During an admission-seeking interview in which an accusation has been made, the respondent will normally object to the accusation and attempt to deny it. When you are convinced of the respondent’s guilt, it is important to 1. Interrupt the denial 2. Ask the respondent to put the denial in
Who was Phar-Mor’s flamboyant Chief Executive Officer?
Which of the following generally is not considered “something of value?1. Cash, money or checks 2. Airline miles or hotel credits associated with frequent activity (e.g., frequent flier miles)3. An airline ticket received as a prize 4. An obligation to make up hours derived from accidentally
Can you create a graphic that highlights each incidence where Fairmont was not in compliance with company policy that requires explicit approval of all hours of eighty hours or more?
Which of the following is not one of the five major categories of fraudulent disbursements?1. Payroll schemes2. Expense reimbursement schemes3. Shell company schemes4. Billing schemes
Why was Adelphia cable company formed?
Assume that your data analytics examination related to employee records resulted in the following summary table for employees with annual salaries greater than $75,000:Assume that your data analytics examination related to the A/P vendor master file resulted in the following summary table for
In addition to financial reporting fraud, what other types of asset misappropriation schemes were perpetrated by the Rigas family members?
Continuing to focus on evidence associated with the act, concealment, and conversion, use the evidentiary material to continue the investigation. In addition, as the examiner also start to think of terms of who, what (did the person(s) do), when (during what period?), where (physical place,
Can you present a graphic of duplicate payroll disbursements that includes the person’s name, the dates on which duplicate payments were made, and the count (number of payments on that date)?
A clerk in the butcher shop is 5’ 10” tall. What does he weigh?
What are the five major categories of fraudulent disbursements?
Which of the following is the first step to form a shell company?1. Obtain a certificate of incorporation from the state.2. Open a bank account.3. Obtain a tax identification number.4. File the company by-laws at the local court house.
Assume that the following store employees earn 100% of their payroll income from commissions. All sales have commissions associated with them. Further assume that your data analytics examination of store # 1246 cash registers yielded the following summary:Case discussion:1. Given this fact pattern,
Think of words ending in –GRY. Angry and hungry are two of them. There are only three words in the English language. What is the third word?
What is a shell company and how is it formed?
Which of the following is an integral step in a pay-and-return scheme?1. Establish a shell company.2. Misappropriate the incoming check related to returned goods and deposit the check in a bank account other than the company’s.3. Purchase legitimate goods that are paid by the organization and
In what year did Adelphia go public?
List five symptoms of fraud that Adelphia exhibited and explain the reasoning for your choices?
Which of the following is an example of check tampering?1. Creating a check for a ghost employee2. Creating a check payable to a shell company3. Creating a check to an employee for fictitious travel expenses4. Creating a check and altering the payee after the check is signed
How many Rigas-related parties were in executive leadership roles at Adelphia?
What are the five principal categories of check tampering?
Which of the following is indicative of the actions of the forged maker perpetrator?1. Issues two checks for the same invoice and gets both signed by an authorized signatory.2. Issues two checks for the same invoice and fraudulently signs and cashes the second check.3. Issues two checks for the
In what month and year did Adelphia file for bankruptcy?
Which of the following is not a method to deter, prevent, and detect the theft and alteration of outgoing accounts payable checks?1. Identify vendors with no mailing address or phone number.2. Identify vendors with a mailing address that matches an employee’s address.3. Hand each paycheck to the
For how many years was John Rigas sentenced to prison?
For a ghost employee, which of the following is not one of the four primary steps needed to make this scheme work?1. Delivery of the paycheck to the ghost2. Input a valid home address for the ghost3. Adding the ghost to the payroll records4. Creating timekeeping information for the ghost
Which of the following is not a typical method that employees use to overstate legitimate expenses on their expense reports?1. Create receipts.2. Purchase an item at an inflated price and request reimbursement at that price while obtaining a vendor refund.3. Purchase more quantity than is necessary

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