what types of frauds are possible in this business environment

Q: fraud monitoring

A: With the development of mobile Internet and online finance, fraud risk has manifested in all sizes…

Q: Fraud investigators refer to what elements as being part of the fraud triangle? Multiple Choice…

A: The fraud triangle is a diagram that shows the origins of a scam. Fraud is defined as the deliberate…

Q: What three forces constitute the triangle of fraud?

A: Fraud:   Fraud can be defined as an act of dishonesty that can be performed by a worker or an…

Q: What are some red flags that may indicate a cover-up or concealment of a fraud?

A:

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: Fraud consists of some deceitful practice or willful device, resorted to with intent to deprive…

A: Financial statement fraud refers to the intentional manipulation, misrepresentation, or…

Q: When a fraud has occurred within an organization, management must decide what follow-up action (s)…

A: An organization usually does not take any legal action against the person who has done fraud as it…

Q: Which is NOT a source of fraud risk (from the Fraud Triangle)?  a) Fraud Tip Hotline b) Perceived…

A: According to the Fraud Triangle, all three elements - opportunity, motivation or pressure, and…

Q: What are two positive and two negative consequences that this might pose to the company in future…

A: The question is asking about the potential positive and negative consequences that a company might…

Q: What was the wells fargo account fraud scandal? What illegal behavior was conducted?

A: The Wells Fargo account fraud scandal refers to a high-profile case involving Wells Fargo, one of…

Q: The best protection for a company against telemarketing scams is:

A: When money is being transferred to people who are not known or personal or financial information is…

Q: Apart from the internal audit and whistleblowing functions, what other mechanisms can assist…

A: There are various methods to tackle fraud. Listed below are explained as under- 1. Background…

Q: causes of business and accounting fraud

A: Fraud is an illegal activity of committing an offence with a willful intention to deceive others for…

Q: Most bribery schemes end up as: a. Collusion schemes b. Business diversion schemes c. Check…

A: Introduction:- Bribery schemes refer to any illegal or unethical actions that involve the exchange…

Q: How does occupational fraud and abuse differ from other kinds of fraud? Give examples of other fraud…

A: Fraud is the intentional deception of others in order to obtain an advantage or profit. To put it…

Q: Which of the following is not a purpose of internal controls?     Guarantee profits     Protect…

A: Internal control can be defined as a system to follow the rules and mechanism in the organisation so…

Q: Outline two positive and two negative consequences that this might pose to the company in future…

A: The question is asking to outline two positive and two negative consequences that a company might…

Q: Why do fraud examiners handle information in a different manner than auditors? Why is thisimportant?

A: Fraud examiners handle information in a different manner than auditors, in order to minimize the tax…