Auditing: A Risk Based-Approach to Conducting a Quality Audit
Auditing: A Risk Based-Approach to Conducting a Quality Audit
10th Edition
ISBN: 9781305080577
Author: Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher: South-Western College Pub
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Chapter 2, Problem 18MCQ
To determine

Introduction:Committee of Sponsoring Organizations of the Tread way Commission (COSO) is an authorized provider for guiding companies on various matters like internal controls of management, threat management, and fraud anticipation.

To identify:The results drawn from the COSO studies.

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Which of the following is NOT a trend in Corporate Fraud? a) Anti-fraud controls have little impact on reduced fraud losses and shorter fraud duration b) Tips are consistently the most common detection method c) Banking, financial services, government/public administration and manufacturing have the greatest number of fraud cases reported
Which is NOT a source of fraud risk (from the Fraud Triangle)?  a) Fraud Tip Hotline b) Perceived Opportunity c) Rationalization d) Financial Pressure
The following scenarios are taken from actual fraud cases. For each scenario, categorize as primarily indicating (A) An incentive to commit fraud (B) An opportunity to commit fraud or (C) a rationalization for committing fraud. State your reason for your answer in each scenario. 1. Top management of the company closely guards internal financial information, to the extent that even some employees on a "need to know basis" are denied full access.
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