Which of the following is a way to prove that a fraud was intentional? A. Show that the suspect repeatedly engaged in activity of an apparent wrongful nature (pattern evidence). B. Show that the suspect did not personally gain anything from the fraudulent act. C. Show that the suspect had a legitimate motive for their actions at issue. D. Show that the suspects failed to conceal evidence of the fraud.

Which of the following is a way to prove that a fraud was intentional? A. Show that the suspect repeatedly engaged in activity of an apparent wrongful nature (pattern evidence). B. Show that the suspect did not personally gain anything from the fraudulent act. C. Show that the suspect had a legitimate motive for their actions at issue. D. Show that the suspects failed to conceal evidence of the fraud.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Q: How do you think Raju could have used Maytas assets to cover up the fraud?

A: We have to determine that how Raju could have used Maytas assets to cover up the fraud.

Q: ff

A: Organization Background: Steinhoff International Holdings N.V is a worldwide retail holding…

Q: During the interview of a suspect in an embezzlement case, several common themes are developed that…

A: Auditors are trained to extract numbers from individuals, but forensic auditors are trained to do…

Q: Which of the following are financial statement frauds? Select which three options are correct. A.…

A: Financial statements frauds involves intentional misapplication of accounting principles related…

Q: In a fraud examination, original documents must be protected from damage and tampering toa.…

A: Fraud examination: Wrongdoing checks require attempts to address claims or signs of wrongdoing where…

Q: Why must auditors distinguish between fraud committed by employees and management? Are auditors…

A: It is one of the auditor's responsibility to obtain reasonable assurance that the financial…

Q: Which of the following items is not true about fraud?a. It can cause injury or damage to another…

A: Fraud is an intentional mis-representation of facts with the view to have unfair advantage for self…

Q: 1) Using the categories included in the professional standards, embezzlement is an example of:…

A: The misappropriation or theft of money or assets entrusted to a person, frequently an employee, who…

Q: The FBI employs deception to collect information during its investigations. Do you believe it is…

A: In the context of auditing, deception refers to the use of false or misleading information or…

Q: Understanding what constitutes fraud and understanding the framework are a part of developing an…

A: The fraud triangle is a model that can be used to explain fraudulent behavior. It involves three…

Q: he factor that distinguishes an error from fraud or other irregularities is A) materiality. B)…

A: Lets understand the basics. Audit is an examination of book of account in order to give an opinion…

Q: Explain what a ‘fraud risk factor means’ and discuss the three conditions generally present when…

A: Auditing is the inspection of the financial records of the company or organisations with no bias and…

Q: Describe the three fundamental conditions necessary for the commission of fraud. Provide an…

A: The commision of fraud is a type of the fraud in which the employee of the company creates some fake…

Q: Explain the differences between Criminal Fraud versus Civil Fraud and provide an example of each…

A: The objective of this question is to understand the differences between Criminal Fraud and Civil…

Q: Opportunities for fraudulent reporting are present in circumstances when the fraud is easy to commit…

A: An opportunity to commit fraud means there are chances to the person to make a fraud which will be…

Question

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Similar questions

If the auditor believes that a misstatement is or might be intentional and the effect on the financial statements could be material or cannot be readily determined, the auditor should do which of the following?a. Inquire of management as to the possibility of fraud.b. Discuss with the audit committee what should be done to prevent possible future misstatements.c. Perform procedures to obtain additional audit evidence to determine whether fraud has occurred or is likely to have occurred.d. Both a and b are correct.e. None of these is correct.
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?
whar are the three factors that must exist for a person to commit fraud include
a.) Identify the purposes or applications of the Statute of Frauds.A purpose of the Statute of Frauds is to ensure that contracts formed for fraudulent purposes are preserved in writingb.)outline the penalties for committing fraud in certain kinds of contractsc.)enforce the full execution of oral contractsd.)prevent one party from falsely claiming that a contract was formed in certain areas of exchange
Answer 4 of the following questions: 1 - What are the critical aspects of surveillance required for the method to be effective? 2 - How is the threshold for predication determined? 3 - What are the challenges associated with proving intent by a fraudster? 4 - What constitutes evidence? 5 - What three types of evidence may be offered at trial? 6 - What is meant by invigilation? 7 - How do witness interviewing and interrogation differ? 8 - How might documents be altered? 9 - What are some ways that may be used to hide assets? 10 - When is it appropriate to use an indirect method for income reconstruction? 11 - Where can fraud examiners and forensic accountants find data?
The following questions concern the auditor’s responses to thepossibility of fraud.a. When fraud risk factors are identified during an audit the auditor’s documentationshould includeThe Risk The Auditor’s Response toFactors Identified The Risk Factors Identified(1) Yes Yes(2) Yes No(3) No Yes(4) No No
What is the auditor's responsibility for detecting theft or fraud?
Which of the following is NOT a possible legal risk that can arise because of a fraud investigation conducted in an improper manner? A. Forcible entry and detainer. B. Invasion of privacy. C. Defamation. D. Malicious prosecution.
Fraud experts often say that there are three principal factors that contribute to fraud. Identify and explain each of these factors.
3. Fraud is an _____________ misstatement of which any amount found during the audit will be considered material. Question 3 options: a) Unintentional b) Planned c) Proposed d) Intentional
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