Week2 Discussion-AI Application in Finance

Business Valuation Strategies vary by industry and are constantly changing. Use the keywords business valuation method to find an article in the CSU Global Library database to discuss. Summarize the valuation method's calculation and discuss how it relates to fraud investigations. Be sure to identify the type of industry the valuation can be used for.

Your boss knows that you are taking a fraud examina- tion course at a local university. He is interested in learning more about data-driven fraud detection and asks you to prepare a short memo briefly explaining data-driven fraud detection methods and techniques. 1. List three data analysis methods and techniques and briefly explain them.

You are an independent consultant hired by Penmen Groceries, and they are exploring options to modernize their accounting information system (AIS). They are looking for an audit company to help them, so your manager has requested a client letter explaining how vulnerabilities can impact an organization's AIS and why an IT environment is crucial to financial reporting. Specifically, your manager is focused on phishing, malware, and ransomware, as your manager has been reading a lot in the news about these vulnerabilities causing problems for organizations. This milestone will help you with Project One, where you will be required to determine the specific risks and efficiencies of an updated computerized accounting information system. Directions In this assignment, you will write a client letter that explains the impact of vulnerabilities on an organization 's AIS and the importance of strong technology controls in the IT environment. Specifically, you must address the following rubric…

BKF.com provides banks access to sophisticated financial information and analysis via the web, enabling them to instantly evaluate both personal and commercial loan applications. To better focus on its client services, BKF.com is considering outsourcing some of its internal functions. Its controller, Jenny Lee, suggests starting with the company's internal email system. She recently attended a conference and learned that GTE and NBC outsource their email function to companies such as Google and Yahoo. Lee began her analysis by identifying the total costs related to last month's in- house email operation, when there were 3,660 employee mailboxes: Variable Costs (varies with mailboxes) Email license $21,960 Virus protection license 4,392 Miscellaneous 17,568 Fixed Costs Computer hardware 26,352 Total costs $70,272 Lee analyzed the computer hardware costs, identifying its three components: 1. $12,649 were allocated costs that will continue even if the email system is abandoned. 2. $5,270…

Hi there, i would like to ask , the answers i have reviewed from my finance questions, for example Explain the role of the risk manager in fraud detection ? Has this been answered by a human, and not copied and pasted from the word internet ? please let me know as im not sure if it is worked out information or not

Identify two specific IT-related risks in computerized accounting information systems. Propose a strategy that might be implemented to mitigate or eliminate each selected risk. Be sure to effectively support your rationale.

AC. 1. What kind of big data-based fraud prevention product can be used in fraud monitoring?   2. What kind of big data-based fraud prevention product can be used in fraud risk management?   Please explain with examples

Understanding what constitutes fraud and understanding the framework are a part of developing an internal control program. The fraud triangle is a framework that is used to understand and explain what the motivation could be when a person decides to commit fraud. Thinking about the fraud cases that you are aware of, how would the fraud triangle explain fraudulent behavior?

Know your customer (KYC) is critical for business from regulatory perspective because O a. It helps maximise business revenue and turnover by understanding customers' preference O b. Business can collect customer data and make profit out of it O c. It can protect against fraud and crimes and to deliver obligations in terms of products and services O d. Business can proactively chase the sources of money laundering and protect the public interest Based on ASIC's Innovation Hub Sandbox exemption for fintech testing, given fintech in sandbox must: O b. O c. Od. Have no more than 100 retail clients Can have unlimed wholesale clients Have total exposure to customers of no more that $5 million All of the above

Lamar LLC is in the process of updating its revenues and receivables systems with the implementation of new accounting software. James Loden, Inc. is an independent information technology consultant who is assisting Tamar with the project. James has developed the following checklist containing internal control points that the company should consider in this new implementation: Will all data entry clerks and accounting personnel have their own PCs with log‐in IDs and password protection?

Forensic Accounting: Unraveling Financial Deception Forensic accounting stands as a specialized field within the broader domain of accounting, with its primary focus on the detection and prevention of financial fraud. In a world where financial crimes are increasingly sophisticated, forensic accountants play a crucial role in unraveling complex financial transactions and uncovering deceptive practices. Their expertise extends beyond traditional accounting methods, encompassing investigative techniques, legal knowledge, and a deep understanding of financial systems. Fraud Detection: Unmasking Deceptive Practices One of the primary objectives of forensic accounting is to identify instances of fraud within an organization or financial system. Forensic accountants employ a variety of techniques, including data analysis, financial statement scrutiny, and interviews, to uncover irregularities or anomalies that may indicate fraudulent activities. They delve into transactions, scrutinize…

A multimediacourse graduate used design software to create paychecks that lookedidentical to those of a company in his town.The paychecks were deposited electronically into ofhis friends’ accounts. What type of fraud did hecommit? Select one: a. output fraud. b. input fraud. c. computer instruction fraud. d. processor fraud.

Provide an example of each of the following; Conspicuous consumption Information you will need to fill out an application to rent an apartment A government agency you can contact to file a fraud complaint A way to prevent fraud on your credit card A way to protect yourself from identity theft