
Concept explainers
(a)
Fraud: Fraud is a deliberate and deceptive action of an employee to obtain unlawful gain from the employer.
To find: The percentage of companies in the world which experienced fraud during the survey period, and find the country which has the highest percentage.
(b)
To find: The percentage of survey respondents performed fraud risk assessment prior to the survey, and the percentage of survey respondents that have not performed fraud risk assessment
(c)
To find: The percentage of survey respondents who thought that the board of directors were ‘very concerned’ about the legal liability of their personal assets due to fraud occurrence in their companies, and percentage of survey respondents who thought that the board of directors were ‘fairly concerned’.
(d)
To indicate: The three main issues concerning the compliance as per the survey.

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Chapter 7 Solutions
Financial Accounting
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