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

Q: Internal controls are critical for any organization's risk of fraudulent activity. Additionally, new…

A: This topic discusses how an advanced technology transaction processing system may assist any firm in…

Q: Which is not among the principles contained in the development of the science of internal control? *

A: D - Ensure objectives are met

Q: How can external auditors attempt to uncover motivations for committing fraud?

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

Q: What is the objectives for Internal Auditors in doing a fraud audit? Briefly explain.

A: Fraud Audit :     Any type of audit assures the risk of material misstatements and ensures the…

Q: Refer to the given system flowchart, and we have discussed the control weakness and the risk…

A: Business risks are associated with the internal control systems that every company needs to follow.…

Q: Discuss the weaknesses in COSO’s internal control framework that led to the development of the COSO…

A: Enterprise risk management is a formal program or frame work that is implemented to mitigate the…

Q: How does HanaTour use the data it collects from the audit to increase the security of its data?

A: HanaTour : It is the largest travel company in Korea. The main business of HanaTour is providing…

Q: _______________________________is a possible safeguard implemented by the client that might mitigate…

A: Answer: Concept: Audit Independence threat is the threat that are experienced by auditor during the…

Q: What is computer fraud, and what types of activities does it include?

A:

Q: How can internal auditors best detect fraud in their orgar your answer.

A: Internal auditor refers to the professionally trained and skilled individual whose main form of work…

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: ounting information systems aid in the prevention of fraud? Do legislative activities such as the…

A: The accounting information system (AIS) is a programme that gathers data, processes it, and…

Q: Which of the following would a fraudster perceive as a pressure?A. lack of management oversightB.…

A: Internal control techniques are those procedures or techniques which will ensure that objectives of…

Q: What are the goals of a fraud audit for internal auditors? Explain briefly.

A: The Fraud Audit: There is a possibility of substantial misstatement with every audit form, but the…

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: When obtaining an understanding of the entity and its environment, including its internal control,…

A: The audit of the financial statement is required to be conducted so as to ensure that the financial…

Q: Refer to the given system flowchart, and we have discussed the control weakness and the risk…

A: Frauds in sales department are as follows: Recording fake invoices Misrepresenting the excessive or…

Q: ______________________is a possible safeguard implemented by the client that might mitigate an audit…

A: Audit: It is the examination of each and every financial transaction. so that auditor can make their…

Q: Companies set up internal controls to protect against fraud and waste. true or false

A: Internal control: Internal control is a process which ensures continuous reliability of…

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: 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: Why do fraud examiners handle information in a different manner than auditors? Why is thisimportant?

A: Fraud examiners handle information in a different manner than auditors, in order to minimize the tax…

Q: Audit tests and fraud?

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

Q: What types of controls are in place to protect data (such as company information or customer…

A: There are many controls which can be put to protect the data as these are very confidential and they…

Q: What is the relationship between CSR and accounting fraud?

A: CSR or Corporate Social Responsibility refers to the management principles which tries to integrate…

Q: How CSR related to accounting fraud?

A: CSR or Corporate Social Responsibility refers to the practices and policies implemented by corporate…

Q: How can advanced technology transaction processing systems reduce fraud

A: Accounting is primarily concerned with identifying, recording, measuring, summarizing transactions…

Q: risk management and internal control

A: Wirecard scandal refers to the accounting scandals that relate to the insolvency of the German…

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: What are the objectives in doing a fraud audit? Explain.

A: Fraud audit is a detailed examination into the financial records of the business with the intent of…

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 are the risk management happened in the Scandal of Fraud about Wiredcard AG

A: Here discuss about the details of the Scandal Which are incurred in the Wiredcard AG and its effect…

Q: A business wishes to establish sound internal controls. What rules and processes can you recommend…

A: This question explains about sound internal controls.

Q: internal

A: Ans. Gaps in internal control procedure may result in frauds or errors in an organisation.

Q: What fraud detection responsibilities (if any) does SOX impose on auditors?

A: Definition: Sarbanes Oxley Act: In order to protect the rights of an investor from fraudulent…

Q: A company wants to implement good internal control. What are the policies and procedures you can…

A: Internal Control:   It is a process of assuring the effectiveness and efficiency of the objectives…

Q: Define fraud and internal control

A: Fraud: Fraud can be defined as a deliberate and deceptive action of an employee to obtain unlawful…

Q: Discuss the potential for abuse and fraud in this system. Describe the         controls that should…

A: Fixed Asset: The asset held by company for more than one year is known as fixed asset. Fixed asset…

Q: do COSO Internal Controls prevention fraud?

A: Internal controls are the policies and procedures put in place to protect your company's assets,…

Q: do you think the investment in digital assets impact the CPA profession? risk factors

A: Digital assets include Cryptocurrency and other digital assets which have no physical existence and…

Q: What is the auditor’s strategy for detecting

A: Answers: Auditor and the risk of fraud: Auditor always be skeptical while auditing the financial as…

Q: What is the major goal of the brainstorming session on fraud?

A: This question tells about the major goal of the brainstorming session on fraud.

Q: Explain the link between the opportunity to commit fraud and corporate governance systems.

A: Introduction: The set of rules, practices, and processes which guide and control a company is known…