If a company reported fi ctitious revenue, it could try to cover up its fraud by: C . creating a fi ctitious asset.

Define the following terms below:  a. Financial crime b. Fraud triangle c. Money laundering d. Accounting Fraud e. Asset misappropriation f. Consumer fraud g. Data theft h. Tax fraud NB: Answer questions a-h

Are there any red flags in financial statement analysis?  Can technology be used to prevent fraud?

Fraud consists of some deceitful practice or willful device, resorted to with intent to deprive another of his right.  Fraud is generally categorized as follows: Asset Misappropriation a) May include employee theft – typically cash, physical assets (computers), or intellectual property. b) May encompass a variety of wrongful acts, such as, among others, bribes or kickbacks. c) Deliberate misrepresentation of the financial statements.

What advantages would motivate management to conduct fraud related to financial capital processes?

Why is it important for companies to analyze revenue and accounts receivable? How can these areas lend themselves to fraud when left with lack of segregation of duties, weak controls and recordkeeping delays?

Do you think the new revenue recognition standard introduced by the FASB-IASB can reduce the likelihood of similar fraud cases caused by improper revenue recognition?

The crime of obtaining money or some other benefit by deliberate deception. oa) skimming ob) pretexting oc) phishing od) fraud Save plit creen 3) Using spam or pop-up messages to obtain personal information. Unit Resources a) skimmina W e

Why are related-party frauds more difficult to detect than frauds with no related parties?

Identify one specific type of accounting fraud. What damage does the perpetration cause? What could be done to prevent it?