The Peregrine financial group fraud Background on the company and type of fraud committed How the detection of the fraud was revealed Two methods of investigation that differs from the actual fraud case

The Peregrine financial group fraud Background on the company and type of fraud committed How the detection of the fraud was revealed Two methods of investigation that differs from the actual fraud case

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Similar questions

Opportunities for fraudulent reporting are present in circumstances when the fraud is easy to commit and when detection is difficult. An opportunity for fraud would least likely arise from the following situatio
1. What are the key differences between a conventional audit and a fraud examination? 2. To what extent does an auditor of financial statements have a responsibility to detect fraud?
What is the ethical value of applying the Fraud Triangle to assess the risk of material misstatements in the financial statements?
Who is affected when a corporation fails to manage financial fraud risk? How can exposure to financial fraud be controlled? What role do external auditors play when assessing the risk of financial fraud in those companies in which audit work is carried out? What would you recommend to prevent external auditors from overlooking the application of tests of control and substantive tests when analyzing the financial statements of corporations?
Which of the following factors creates an opportunity for fraud to be committed in an organization? a. Management demands financial success. b. Poor internal control. c. Commitments tied to debt covenants. d. Management is aggressive in its application of accounting rules.
What documents does a perpetrator use to commit billing fraud? example? What are the three categories in payroll fraud? example?
Fraud experts often say that there are three principal factors that contribute to fraud. Identify and explain each of these factors.
Question 9 Fraud risk factors are events or conditions that indicate which of the following? An opportunity to carry out fraud An attitude or rationalization that justifies a fraudulent action. An incentive or pressure to perpetrate fraud. All of the answers provided.
Fraud consists of some deceitful practice or willful device, resorted to with intent to deprive another of his right. Fraud is generally categorized as follows: Asset Misappropriation a) May include employee theft – typically cash, physical assets (computers), or intellectual property. b) May encompass a variety of wrongful acts, such as, among others, bribes or kickbacks. c) Deliberate misrepresentation of the financial statements.
Collusion is an intentional act of two or more employees to accomplish theft of company assets. Which control activity is designed to make fraud less likely because it would require collusion among employees? A. Adequate documents and records B. Clearly defined authority and responsibility C. Safeguards over assets and records D. Segregation of duties
What are the defining characteristics of (a) white-collar crime, (b) employee fraud, (c) embezzlement,(d) larceny, (e) defalcation, (f) management fraud, and (g) errors?

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