Payroll Department Employee Supervisor Time Time Time Card Card Card Supervisor Approves and Signs Time Cards Prepare Paychecks Paycheck Paycheck Paycheck Supervisor Distributes Paychecks to Employees

Q: Explain what is meant by the fraud triangle

A: A Fraud Triangle is a framework commonly used in auditing to explain the motivation behind an…

Q: What are some of the internal controls that an accountant should put into place to determine if…

A: Accounts payable controls are designed to help mitigate loss risk in the accounts payable function.…

Q: Which of the following IT controls would a company appropriately use to mitigate the risk of…

A: The unauthorized access to the system refers to the interference of the individual or the employee…

Q: Internal control is concerned with the reliability of financial information. True or False

A: Internal control is a procedure which will ensure completion of objectives along with safguarding…

Q: What is the purpose of the following control procedures (i.e., what threats is it designed to…

A: Control procedures are designed with a view to prevent the frauds and errors from occurring in the…

Q: What is the fraud scale, and how does it relate to pressure, opportunity, and integrity?

A:

Q: Controls that enhance the accuracy and reliability of the accounting records are automated…

A: Accounting control is the manner in which process are configured to. Manage risk within an…

Q: Evaluate the difficulties associated with preventing and detecting payroll fraud.

A: Payroll is the compensation that a firm must pay to its employees on a given day and for a specific…

Q: what types are frauds are possible in revenue cycle?

A: Introduction: The revenue cycle is a method of defining and maintaining the processes used for the…

Q: Answer the following questions to ponder: 1. What is the purpose of internal controls? 2. What…

A: An internal control is a plan of organisation for your business. It co-ordinates all systems used in…

Q: Provide two inherent risk factors in the revenue cycle and identify the accounts that are likely to…

A: RCM (revenue cycle management) is a procedure used by healthcare systems in the United States and…

Q: Explains these controls and tell why they are important in any fraud situation:  a. Preventive…

A: Controls refer to measures, procedures, or mechanisms put in place by organizations to manage and…

Q: xplain the role of the Risk Manager in fraud detection Explain the role of the Risk Manager in fraud…

A: In the world of finance risk managers play a very important role when it comes to detection of…

Q: Imurlal LUnTUI amu give an example of each principle that you might observe when picking up your…

A: a. Explain internal control weakness for each procedure and identify control principle violated as…

Q: Define the term fraud.

A: Fraud in General: When someone uses misleading or false information with full intentions so that he…

Q: Describe a checks an balance scenario that allows for whistleblowing and prevents retaliation to the…

A: Solution- Retaliation is defined as a direct or indirect adverse administrative decisions or action…