Ethics Case Chapter 2- Rite Aid- Finished

A 1 Do research and write a detailed report on the following points: 2 3 - Give the complete definition of fraud. 4 5 5 16 - After doing some research, choose an industry where fraud is regularly committed. Indicate who the parties that could be involved are, and specify the type of fraud they are likely to be involved in. - Choose a popular case where a person is known for having committed fraud. State what would be included in a portfolio of evidence of fraud against this person. - Search for a section in the Prevention of Organised Crime Act 121 of 1998, that governs fraud and state how it would be applicable in a selected business sector of your choice. - What legal recourse is available to employers when an employee has committed fraud? 7 8 - What are the most common economic crimes reported? 9 - Which industries are most affected by economic crime? 10 - What are the major trends in economic crime? 11 12 23 13 What control measure(s) can the following parties of an organisation…

Ma3. Please answer this I'll leave a review!! 24   1) The most damaging type of fraud, per event, is   A) corruption.   B) misappropriation of assets.   C) fraudulent financial reporting.   D) grand theft.   2) The most common type of fraud, in frequency, is   A) corruption.   B) misappropriation of assets.   C) fraudulent financial reporting.   D) Fortnite fraud.   3) Fraudulent financial reporting is ________ likely than corruption. The amounts involved in corruption are much ________ than fraudulent financial reporting.   A) less; more   B) less; less   C) more; less   D) more, more

od 0123 po dass bie Bluogely MINI-EXERCISES achroval, Ybolin0391 31 25onsisd LO 5-1 hude chant desa y Torinos Lamotni s slavi M5-1 Matching Circumstances to the Fraud Triangle Match each of the following circumstances to the corresponding element of the fraud triangle by entering the appropriate letter in the space provided. 35r2 93m aleonoqu 1. Employee has significant personal debt. 2. One employee receives and deposits customer checks. 290 Grave 3. CFO feels she is underpaid relative to other financial officers. 4. Manager approval is not required for expense reports. connect o W S A. Incentive B. Opportunity C. Rationalization

48. A sales invoice for P 5,200 was computed correctly but, by mistake, was entered as P 2,500 to the sales journal and to the accounts receivable master file. The customer remitted only  P 2,500, the amount on his monthly statement. Select the control that should have prevented the misstatement. Group of answer choices Unauthorized remittance deductions made by customers or other matters in dispute are investigated promptly by a person independent of the accounts receivable function.   Sales invoice serial numbers, prices, discounts, extensions, and footings are independently checked.   The customers’ monthly statements are verified and mailed by a responsible person other than the bookkeeper who prepared them.   Prelistings and predetermined totals are used to control postings.

Discussion Question 37:  Explain why Benford's Law is useful to auditors in the detection of fraud. (write a one page response for each question):

Listed below are seven errors or problems that might occur in the processing of cash transactions. Also shown is a list of internal control principles. Evaluate each possible error and cite a principle that is listed that would reduce the probability of the error occurring. If none of the principles given will correct the problem, write "None." If you think more than one principle is appropriate, list all principles that apply. Internal Control Principles Establishment of responsibility Segregation of duties Physical control devices Documentation procedures e. Independent internal verification a. b. C. d. f. Human resource controls

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.

Which of the following are examples of the misappropriation of assets? O A. An employee theft of inventory. O B. A kickback scheme in the purchasing function. OC. An employee overstates an expense reimbursement request after a company trip. O D. all of the above Click to select your answer. 11:59pm 99+ ch

Assignment 1: Individual research/essay You are a newly hired fraud examiner. You have been asked to write a preliminary report on the Paving Company Case scenario based on the information presented in Units 1 to 4 and findings from your additional research.  Your report should not exceed 2,000 words. The word limit is not inclusive of the bibliography and cover page.  In your response, the following points must be addressed fully: a)      Determine the type of fraud committed and describe the symptoms of fraud that might be evident to an investigator.  b)      As discussed in units 1 to 4, all frauds involve key elements. Identify and describe using examples the elements of the Sharp's fraud.  c)       In the scenario, Sharp’s employer has been putting more emphasis on controlling costs for the various businesses. With the slowing of overall spending in the construction sector, Travolta had ordered managers to closely monitor expenses. He had sold several companies and has given vice…

Y6 ACCT 361:Ethical, Fraud, and Legal Issues for Accountants: Evaluate investor fraud through a case study on a Ponzi Scheme. Research Madoff Ponzi Scheme. Please only own words!!! At a minimum, the report should discuss the background of the case, what factors led to the fraud, what specific fraud occurred, what was the effect on investors and creditors, what was the effect on company employees, what was the effect on the individuals that perpetrated the fraud, what was the effect on the investment and regulatory markets, how was the audit firm associated with the company affected by the fraud, what could have been done to prevent the fraud, and how did this case affect your views/opinions. PLEASE ONLY OWN WORDS!!!

Question 9 Fraud risk factors are events or conditions that indicate which of the following?     An opportunity to carry out fraud     An attitude or rationalization that justifies a fraudulent action.     An incentive or pressure to perpetrate fraud.     All of the answers provided.