What is forensic auditing? Fraudulent expense claims You have been approached by your client Stan...

 

Transcribed Image Text:

What is forensic auditing? Fraudulent expense claims ★★ You have been approached by your client Stan Frank who runs small plumbing business. Stan's plumbers work on a range of small domestic jobs as well as large jobs on constructions sites. It is not unusual for Stan's staff to be required to stay away from home during the week. Stan has become concerned that the amount he has been paying for travel and accommodation expenses for staff staying away has increased significantly and he recently sacked a member of staff on suspicion of providing a false claim. Stan has asked to have a meeting with you to discuss the problems he has found. He wants you to carry out an investigation into possible fraudulent expenses claims. Required Prepare notes for your meeting with Stan that will allow you to understand the nature of the engagement. Controls and risks for payments*** You are engaged to write a checklist for Cyber-Sell, a company that buys and sells products over the Internet as a key secondhand market. Required Using the following headings, identify the controls and risks you would expect in the Cyber-Sell sales systems regarding: (a) confidentiality of information (b) transaction integrity (c) authorisation of payments (d) assurance of business credibility What is forensic auditing? Fraudulent expense claims ★★ You have been approached by your client Stan Frank who runs small plumbing business. Stan's plumbers work on a range of small domestic jobs as well as large jobs on constructions sites. It is not unusual for Stan's staff to be required to stay away from home during the week. Stan has become concerned that the amount he has been paying for travel and accommodation expenses for staff staying away has increased significantly and he recently sacked a member of staff on suspicion of providing a false claim. Stan has asked to have a meeting with you to discuss the problems he has found. He wants you to carry out an investigation into possible fraudulent expenses claims. Required Prepare notes for your meeting with Stan that will allow you to understand the nature of the engagement. Controls and risks for payments*** You are engaged to write a checklist for Cyber-Sell, a company that buys and sells products over the Internet as a key secondhand market. Required Using the following headings, identify the controls and risks you would expect in the Cyber-Sell sales systems regarding: (a) confidentiality of information (b) transaction integrity (c) authorisation of payments (d) assurance of business credibility

Answer rating: 100% (QA)

Forensic Auditing Forensic auditing is a specialized field of accounting that involves the examination and investigation of financial records transactions and documents to uncover and prevent financia... View the full answer