Why might the inherent likelihood of a risk increase if there is the potential for fraud?
Question:
Why might the inherent likelihood of a risk increase if there is the potential for fraud?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (3 reviews)
The inherent likelihood of a risk may increase when there is the potential for fraud due to several factors related to the nature of fraudulent activi...View the full answer
Answered By
Krishnavendra Y
I am a self motivated financial professional knowledgeable in; preparation of financial reports, reconciling and managing accounts, maintaining cash flows, budgets, among other financial reports. I possess strong analytical skills with high attention to detail and accuracy. I am able to act quickly and effectively when dealing with challenging situations. I have the ability to form positive relationships with colleagues and I believe that team work is great key to performance. I always deliver quality, detailed, original (0% plagiarism), well-researched and critically analyzed papers.
5.00+
4+ Reviews
10+ Question Solved
Related Book For
Internal Auditing Assurance & Advisory Services
ISBN: 9780894139871
4th Edition
Authors: Urton L. Anderson, Michael J. Head, Sridhar Ramamoorti, Cris Riddle, Mark Salamasick, Paul J. Sobel
Question Posted:
Students also viewed these Business questions
-
Research various global financial services organizations (for example, UBS AG, E-Trade, Schwab, ING, Bank of America, HSBC, RBS) through their company websites and other publicly available...
-
The Purpose of Risk Management in Healthcare Risks to patients, staff, and organisations are prevalent in healthcare. Thus, it is necessary for an organisation to have qualified healthcare risk...
-
The cement industry in South Africa is currently undergoing mixed sentiments by various economic and financial specialists. From an economic perspective, this industry should grow, especially in view...
-
Discuss what you see as the role of ethics as it pertains to management and managers. Does management, in your view, help shape the values and ethics of an organization? What about an organization's...
-
An investment opportunity having a market price of $1,000,000 is available. You could obtain a $750,000, 25-year mortgage loan requiring equal monthly payments with interest at 7.0 percent. The...
-
Rose Company in Drumheller received a bank statement from TD Canada Trust indicating a bank balance of $7,100. Based on Roses G/L cash account, the balance was $5,700. Your task is to prepare a bank...
-
Explain the working of a load cell for force and strain measurement.
-
Northern Music, a harmonica manufacturer, uses standard costs to judge performance. Recently, a clerk mistakenly threw away some of the records, and the manager has only partial data for October. She...
-
MOTOROLA, INC., AND SUBSIDIARIES* CONSOLIDATED STATEMENTS OF OPERATIONS (IN PART) Years Ended December 31, (In millions, except per share amounts) 2008 2007 2006 Other Charges 3. Other Financial Data...
-
A specific objective of an audit of an organizations expenditure cycle is to determine if all goods paid for have been received and charged to the correct account. This objective would address which...
-
Once an observation is identified by the internal auditor, it should be: a. Documented in the working papers. b. Discussed with the audit committee. c. Included in the final audit report. d....
-
In early 2012, Sosa Enterprises purchased a new machine for $10,000 to make cork stoppers for wine bottles. The machine has a 3-year recovery period and is expected to have a salvage value of $2,000....
-
An extract from the general ledger of D Wyangala at 30 June 2022 showed the following account balances: accounts receivable control $68 288 allowance for doubtful debts $1421 GST payable $2500 ...
-
D Peggy has provided the following information: Office furniture was purchased with debit card on 1 July 2020 for $7920 ($7200 + $720 GST) with a 10% p.a. depreciation rate. Machinery was purchased...
-
On 31 December 2020 D Burrendong used a debit card to purchase machinery for $6270 ($5700 + $570 GST) to be depreciated at 20% p.a. and an estimated scrap value of $220 ($200 + $20 GST); as well as...
-
Ledger balances on 30 June 2022 before adjustments were: machinery $50 700, accumulated depreciation machinery $12 800, rates $8000, 12% government bonds $25 000, interest received $2850, salaries...
-
General ledger balances on 31 December 2022 were: rent received $7150, interest received $3100, insurance $2580, equipment $17 000 and accumulated depreciation equipment $3000. The adjustments for...
-
Recall that botanists randomly selected five sites in the Dry Steppe region and six sites in the Gobi Desert where ants were observed. One of the variables of interest is the annual rainfall (in...
-
Using Apple, demonstrate how the differentiation strategy can be well implemented.
-
Think about the best (or worst) supervisor you have had, either as a volunteer or a nonprofit staff member. Do you think that individual subscribed to McGregor's Theory X or Theory Y? What do you...
-
In your opinion, is human nature closer to McGregor's Theory X or Theory Y? Or somewhere in between?
-
Read Partnerships among Lebanese Nonprofit Organizations: Assessing the Impact on Human Resource Capacity by KhaldounAbouAssi and Jo Suyoen. What did the authors research reveal about the impact of...
-
How many years will it take Johnny to earn $1,122.00 if he invested $856.00 at 7% return?
-
What role do social movements and collective action play in driving processes of social change, and how do theories of collective behavior, resource mobilization, and political opportunity structures...
-
TranscribedText: INFO REQUIRED Cost Actg Budget Variances Static Budget units sold 20,000 Revenues 2,000,000| Variable Costs: D Materials 800,000 D mfg labour 200,000 Var Mfg OH 300,000 Total...
Study smarter with the SolutionInn App