Evaluate the difficulties associated with preventing and detecting payroll fraud.

Q: investigative techniques used  to uncover the fraud.

A: Fraud is defined as a false portrayal of the facts that cause the victim of the fraud to suffer harm…

Q: Expalin wether the tools used in the financial statement audit are employed in a fraud examination.

A: The tools used in a financial statement audit and a fraud examination share some similarities but…

Q: The Sarbanes-Oxley Act was enacted to combat fraud and curb poor reporting practices. What are some…

A: Sarbanes-Oxley Act: This is the act passed by the government for safeguarding investors from…

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: What motivates individuals to engage in occupational fraud?

A: Occupational frauds occur when an employee, management, officer, or owner of a company commits fraud…

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: What causes people to commit occupational fraud?

A: Answer:Causes of occupational fraud by people are listed below:Financial pressures:Financial…

Q: Define fraud examination and describe various engagements performed by fraud examiners.

A: Although the investigation of fraud shares some attributes with forensic, it is not the same…

Q: List the supporting documents and records the auditorwill examine in a typical payroll audit in…

A: Audit: Audit is the process of verification of the compliance of the financial statements.

Q: Who are the professional organizations who are in charge of fraud auditing? Birefly elucidates.

A: This question explains about the professional organization of fraud auditing

Q: Write a short note on "Accounting Frauds"

A: Accounting fraud is the deliberate manipulation of financial accounts to provide the impression that…

Q: Explain the elements of a good document of fraud..

A: Since documentary evidence makes up a large quantity of evidence in fraud cases, auditors must…

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: Articulate when and how to report actual or suspected fraud

A: A fraud is when the actual activity or transaction differs from the stated or recorded transaction…

Q: What are the most common errors and frauds in the personnel and payroll cycle? Which control…

A: Payroll cycle: The payroll cycle is commenced with the hiring and dismissal of an employee along…

Q: How this audit fraud work exists? What is the reason behind this audit fraud?

A: An accounting error refers to unintentional act of omissions or misstatements in the financial…

Q: Advise the college on the weakness in its systems and procedures due to payroll fraud.

A: List of some actions to be taken by college on the weakness in its systems and procedures due to…

Q: What is the connection between criminology and the discovery or prevention of fraud? It's not the…

A: Fraud It is the deliberate act of doing anything to get illegal items and deny the victim's rights.

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 auditors need to differentiate between employee and management fraud? Is it the…

A: That the Company's financial statements are free of any substantial misstatements following…

Q: Outline the steps which can be taken to investigate occupational fraud.

A: Occupational fraud often refers to fraud committed by employees of an organization. This type of…

Q: What are solutions a company can take to protect itself against any employees committing fraud…

A: Payroll theft or fraud is the misusing of the company's funds to issue wrong payments or salaries.…

Q: incentives,

A: Fraud risk refers to the risk that is unexpected and related to the financial, material, or loss…

Q: Determine possible fraud schemes involving long-lived assets

A: Using specific strategies, financial statements are sometimes misstated. Financial statement fraud…

Q: xplain the role of the Risk Manager in fraud detection Explain the role of the Risk Manager in fraud…

A: In the world of finance risk managers play a very important role when it comes to detection of…

Q: Recognize specific fraud riskareas and develop proceduresto detect fraud.

A:

Q: All frauds involve key elements. Identify and describe using examples, the elements involve in an…

A: Embezzlement fraud is a significant and one of the most common frauds in the world of finance.   It…

Q: What is the ethical value of applying the Fraud Triangle to assess the risk of material…

A: Fraud Triangle:   A fraud triangle refers to a framework that is used in auditing to explain the…

Q: Explain the impact of the fraud in business according to accounting information system.

A: AIS (Accounting Information System) defines fraud as an action that can affect many people within…

Q: Who is the professional bodies that responsible in fraud audit? Birefly explain.

A: Fraud in audits occurs when an entity is discovered to have improperly manipulated financial…

Q: What is the auditor's responsibility for detecting theft or fraud?

A: American Institute of Certified Public Accountants (AICPA): AICPA is the organization which supports…