The following questions/inquiries can be used in determining risk, EXCEPT: CHOICES: A)What is the passcode lock of that computer? B) Where are the people, processes, systems, or assets vulnerable? C) How could that unit fail? D) What could go wrong?

Q: What actions to be taken on error/fraud discovery?

A: An auditor is a person who is held responsible for fraud or error detection as he or she is auditing…

Q: What is the audit committee’s potential role in overseeing cyber risk?

A: Audit: It is an independent examination of books of accounts of the company with a view to represent…

Q: What are the risk factors in a risk management about the wiredcards Ag's Scandal?

A: The wiredcards  Ag's Scandal was biggest scandal in the fintech industry once was biggest innovator…

Q: ow to prevent and detect fraud, and make it less likely to occur in organization

A: Fraud is a serious issue that might bring down an organization, no matter its size. according to…

Q: Would immediate public disclosure of such vulnerabilities be a good best practice?

A: To begin with, immediately disclosing a weakness is a good practice since it allows users to protect…

Q: Why is internal controls important to prevent fraud?  Why would a proper control system prevent…

A: Internal controls refer to the policies, procedures, and practices implemented within an…

Q: What processes or regulations should be developed to minimize ethical fraud concerns?

A: This question explains about ethical fraud concerns

Q: What is management fraud?

A: Fraud:   It is an intentional misappropriation of the assets or the financial records of an…

Q: Explain why professional skepticism would be critical in assessing and responding to the risk of…

A: Professional skepticism is a fundamental mindset that auditors and other professionals must adopt…

Q: What recommendations will you give to prevent fraud?

A: Fraud is an unethical activity performed against an organization's policy in order to take personal…

Q: The risk of fraud in a computerized system is lower than in a manual system because of the use of…

A: The answer to the question is given below :

Q: What is the most important factor in the fraud triangle?

A: By adopting sturdy internal controls and processes, any company might cut back the danger of the…

Q: What rules or policies should be developed to avoid ethical fraud issues?

A: Accounting Fraud:   Intentional manipulation of financial statement to create false financial heath…

Q: Errors/misstatements and fraud (meaning and characteristics)?

A: A misstatement is an error, either intentional or unintentional, that exist in a transaction or…

Q: How would a policy of mandatory vacations have helped discover the Beta fraud?

A: Given: The help of mandatory vacations policy helps in the discovery of beta fraud.

Q: How audit programs that need to be made to detect vulnerabilities in the firewall?

A: Auditing for security is very important and requires frequent and strict auditing that covers…

Q: Identify fraud risk factors or red flags.

A: The various fraud risk factors or red flags are: Inventory shrinkage: While it's natural to lose a…

Q: What is the fraud scale, and how does it relate to pressure, opportunity, and integrity?

A:

Q: how can we avoid Enron scandal using ERP system. how could Sarbanes-Oxley Act stop Enron scandal.

A: how can we avoid Enron scandal using ERP system? 1. Ensure adequate internal controls are in place:…

Q: In fraud examiners’ terminology, what is predication?

A: Introduction: Fraud: The action of deceiving a performance for the purpose of generating illegal and…

Q: When it comes to control systems and materiality, why could fraud examiners' views vary from those…

A: Misstatements and judgments are taken into account when determining materiality in the design and…

Q: Which one of the following is not an advantage of internal controls? Select one: a. It safeguards…

A: Internal control is an auditing and accounting tool that ensures operational efficiency and…

Q: In order to eliminate ethical fraud concerns, what procedures or policies should be implemented

A: Fraudulent Accounting: Accounting fraud is explained as the deliberate manipulation of financial…

Q: The following questions/inquiries can be used in determining risk, EXCEPT:

A: Before the risk assessments, asking questions is important. This help us to understand the situation…

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: Why is it vital to retain periodic records as part of the risk management process

A: Risk management Managing the risk related to an organization is known as risk management. It is a…

Q: Explain what a ‘fraud risk factor means’ and discuss the three conditions generally present when…

A: Auditing is the inspection of the financial records of the company or organisations with no bias and…

Q: The purpose of ____________ is to help manage and control risk appropriately rather than to…

A: Internal accounting is the process of preparation of accounting for business transactions. Internal…

Q: A malware attack on IT systems is a A. financial risk B. C. operational risk strategic risk D.…

A: STEP 1 Risk is the possibility that the results or returns on an investment will not match…

Q: Responsibility for prevention and detection of fraud?

A: Fraud: It is a sharp and clever practice of the person to deceive some intentionally to secure…

Q: Internal controls are perhaps the most important tools for managing operational risk. What are…

A: Internal control refers to the rules, policies, processes developed by the management which need to…

Q: Which preventive, detective, and/or corrective controls would best mitigate the following threat,…

A: A criminal remotely accessed a sensitive database using the authentication credentials (user ID…

Q: Audit tests and fraud?

A: For any company auditor is appointed to give an opinion on the financial statements, whether they…

Q: Which of the following is not included in a vulnerability chart? a. Internal controls that a company…

A: An organization or system's potential risks and vulnerabilities can be found and analyzed using a…

Q: hy is fraud prevention so important?

A: Fraud in auditing refers to the illegal manipulation or wrong altered information reported in the…

Q: Does the use of ghost-ticking would violate what pillar of character?

A: Making a mark that suggests you confirmed them when you didn't would be called "ghost ticking."…

Q: incentives,

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

Q: Explains these controls and tell why they are important in any fraud situation:  a. Preventive…

A: Controls refer to measures, procedures, or mechanisms put in place by organizations to manage and…

Q: How does a control manage a specific risk Select one: 1- if prevents the occurrence of the event b-…

A: Explanation : In simple words, controlling refers to the process under which an individual or an…

Q: What tests may be conducted for identifying unauthorized program changes?

A:

Q: In the framework of audit and assurance, we are investigating the consequences of expectation gaps…

A: Auditing is the examination of a company's financial records to establish if the documents are…

Q: When is the timing of substantive procedures most flexible? O detection risk is assessed as low O…

A: Substantive procedure refers to a process performed by the auditor in order to detect the material…