Question: While discussing your class schedule with a friend who is an accounting major, your friend describes why she decided not to take the fraud class

While discussing your class schedule with a friend who is an accounting major, your friend describes why she decided not to take the fraud class you are enrolled in:
“With advances in audit technology and the increased digitalization of business records, fraud detection is a dying part of a financial statement audit.” How would you respond?

Step by Step Solution

★★★★★

3.47 Rating (167 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

As fraud detection methods get more sophisticated so do fraud perpetrati... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Document Format (1 attachment)

158-L-B-L-F-M (39).docx

120 KBs Word File

Students Have Also Explored These Related Business Law Questions!

You have a friend who is considering purchasing some shares in LookFool Ltd. The shares are currently trading on the stock exchange at $3.58 each. The entity's financial statements suggest that the...

A friend who is approaching retirement is discussing her investment plan. She tells you that she wants to find a mutual fund that invests in stock of companies with high fixed costs, such as...

How many grams of sucrose (C2H01) must be added to 483 g of water to give a solution with a vapor pressure 0.825 mmHg less than that of pure water at 20 C? Be sure your answer has the correct number...

1-Which sentence best expresses the main idea of paragraphs 3-8? Students should make sure that college prepares them for a career that they will enjoy and in which jobs are available. The author...

Report of Independent Registered Public Accounting Firm The Boa rd of Directors and Stockholders Wells Fargo & Company: We have audited the accompanying consolidated balance sheet of Wells Fargo &...

THE ACCOUNTING FUNCTION Like other organizations, Lexington Country Day has had a difficult time attracting a diverse candidate pool to fill its open faculty and staff positions. Working with the...

Case Study: Lexington Country Day School: Where Were the Internal Controls? INTRODUCTION May 20, 2007, started like a typical day for Mary Sunshine and her husband, Frank. They had breakfast with the...

Fraud Zane Corbin, Accounting Major 12:55 P.M., Friday, April 30 "The final undergraduate award today is the William J. Upchurch Medal, which is given annually to the outstanding senior in the...

Bert and Karla are married and have two children, aged 4 and 16 years. The couple employ a full-time nanny, at a salary of $12,000 per year, to take care of their two children while they work. They...

1.) In a 1 M solution of NH3(aq), identify therelative molar amounts of these species. Arrange them from most toleast. 1.) NH3 2.) H3O+ 3.) H2O 4.) NH4+ ~~ OH-

The Framers made the House of Representatives more responsive to the urgent political needs of the people by . . . . Making 2 5 years the minimal age requirement to be elected Requiring re - election...

8.40 Find the value of t for the t distribution for each of the following. a. Area in the right tail .05 and df 12 b. Area in the left tail .025 and n 66 c. Area in the left tail .001 and df 49...

Cresseys fraud triangle states that three factorsnon-shareable financial need, perceived opportunity, and rationalizationare present in cases of occupational fraud. Which of these three factors, if...

Cressey described a number of non-shareable financial problems that he uncovered during his research. Which of these, if any, apply to modern-day executives who are responsible for large financial...

Albrecht, in his research, developed the fraud scale and furnished a list of the reasons employees and executives commit occupational fraud. How are Albrechts conclusions similar to Cresseys? How are...

Self-Help Income. In which of the following situations would the taxpayer realize taxable income? a. A mechanic performs work on his own automobile. The mechanic would have charged a customer $400...

The process of bond valuation is based on the fundamental concept that the current price of a security can be determined by calculating the present value of the cash flows that the security will...

You have just taken out a $17,000 car loan with a 8% APR, compounded monthly. The loan is for five years. When you make your first payment in one month, how much of the payment will go toward the...