A city health inspector threatens to close down a restaurant for issuing a fake health notice if the owner does not make a financial payment to the inspector. If the restaurant owner does not cooperate, he will not be able to open for business and the publicity will drive away his customers permanently . Faced with a threat of economic loss the owner makes the payment.▪ what type of fraud is this and what controls can be implemented to prevent or detect fraud ?

A friend has asked you for some advice. She owns some shares in S, a large quoted entity. The external auditor of her entity has recently been criticized for failing to detect a staff fraud. The auditor has rejected the criticisms on the grounds that the fraud was not, in itself, material and, in any case, it is not the auditor’s responsibility to prevent or detect all fraud. Requirements (a) Explain what is meant by ‘materiality’ and describe the importance of the concept of materiality in the audit process.  (b) Describe the auditor’s duties with respect to the financial statements, explaining why it is not the auditor’s duty to detect all fraud.

5. What does Tina mean in her statement to the Clare County Review "the effects of an embezzlement are far reaching and detrimental for everyone"? Who were all the stakeholders that were all affected in this case? How was each of them harmed? 6. Jenifer was caught embezzling via the payroll system, how else might she have been stealing from the company that was never proven? 7. Why do you think Jenifer embezzled the money? 8. Do you think her sentencing is too lenient, too harsh, or is appropriate? Why? 9. What would you do if your friend and employee was stealing from a company that you owned?

1. How do you understand Fraud in your own words? Please provide explanation. 2. How do you understand the Fraud Triangle? Please provide explanation. 3. Favorite topic in Forensic Accounting? 4. What recommendations will you give to prevent fraud? 5. Will you consider becoming a Fraud investigator in the Future? Why or why not.

Select all that are true regarding business operations risk for a bank.     In recent years the need for physical security of the bank's premises has become more important than the bank's cybersecurity of their online operations.     The cost of the bank meeting regulatory compliance requirements is minimal for most institutions and has no net effect on this risk.     Uncertainty in new or updated banking regulations is a part of this risk.      The increased regulation of banks reduces the risk in this category.     This risk can be measured by variance to budgeted financial results, which is heavily influenced by interest rates and management strategy.     This risk is impacted by the risk management strategies and procedures undertaken by the bank.

Why it can be dangerous to provide credit card information over the internet? Does it stop the risk if you only use credit card at local business?

This corporate con stated that she stole from the company because she believed it was "okay" to take the money because there wasn't any actual person she was stealing from, and it was right because she was being underpaid. According to the fraud triangle, her reasoning is most closely associated with O Availability Rationalization O Need/Motivation O Opportunity

The chief effect of reinsurance is that  - insurance premiums are higher  - insurance companies are prevented from engaging in fraud  - insurance companies can offer insurance without fear of a major event causing them to go out of business

Making a sale to customer who are already behind in making the payments on account is a threat. Rena is making a credit sale to Sara, a customer who is already six months behind in making payments on his account. What internal control procedure(s) would provide protection against these threats?

“Identity theft is often applied to a wide range of crimes, including checking account fraud, counterfeiting, forgery, auto theft using false documentation, trafficking in human beings, and terrorism, most policymakers, and researchers agree that identity theft includes the misuse of another individual’s personal information to commit fraud”. Required: Where does identity theft fraud happen often?  Explain any five steps that victims should need to take once identity theft occurs.