FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Discussion Topic: What is Fraud? Forensic accountants and fraud examiners provide support for accusations of fraud. To be effective, they must understand the difference between fraud and abuse, and must understand the legal concept of fraud, as well as elements of fraud. How does fraud differ from abuse? Give an example of each. What are the legal elements of fraud? (Hint: there are four!); explain each element.
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- hello. could you solve this? thank you...arrow_forwardExplains these controls and tell why they are important in any fraud situation: a. Preventive controls b. Detective controls c. Leveraging technologd. Identifying the red flags NB: Answer questions a-darrow_forward6 Who has the responsibility to carry out the Fraud Risk Assessment (FRA)? And what skills should an individual/team have in conducting FRA?arrow_forward
- What is the ethical value of applying the Fraud Triangle to assess the risk of material misstatements in the financial statements?arrow_forwardI need the answer as soon as possiblearrow_forwardA reason to believe that a fraud has occurred is calleda. Deliberation.b. Forensics.c. Predication.d. Restitutionarrow_forward
- Discuss the pros and cons of putting a subject on notice in a fraud investigation. Please provide references if any with URL.arrow_forward1. 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.arrow_forwardFraud experts often say that there are three principal factors that contribute to fraud. Identify and explain each of these factors.arrow_forward
- In most fraud cases, ____________ is the most difficult element to prove, yet it is also the most important element. A. Concealment. B. Deception. C. Intent. D. Materiality.arrow_forwardWhat are the key differences between auditors and fraud examiners? Discuss at least three.arrow_forwardWhistle-blowers have played a key role in fraud detection. There are several types of whistle-blowers and safeguards for each type. Analyze the adversities that whistle-blowers face, including the safeguards intended to protect them. Compare the different types of whistle-blowers. What is the importance of each type?arrow_forward
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