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Forensic Accounting and Fraud Examination Midterm Exam|BRAND NEW EXAM QUESTIONS AND CORRECT ANSWERS ALL GRADED A+|GUARANTEED SUCCESS|LATEST UPDATE $11.49
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Forensic Accounting and Fraud Examination Midterm Exam|BRAND NEW EXAM QUESTIONS AND CORRECT ANSWERS ALL GRADED A+|GUARANTEED SUCCESS|LATEST UPDATE
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Forensic Accounting and Fraud
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Forensic Accounting And Fraud
Forensic Accounting and Fraud Examination Midterm Exam|BRAND NEW EXAM QUESTIONS AND CORRECT ANSWERS ALL GRADED A+|GUARANTEED SUCCESS|LATEST UPDATE
Forensic Accounting - ANSWER-Use of accounting knowledge or skill for courtroom purposes. Can therefore involve not only fraud, but also ban...
Forensic Accounting and Fraud
Examination Midterm Exam|BRAND
NEW EXAM QUESTIONS AND CORRECT
ANSWERS ALL GRADED
A+|GUARANTEED SUCCESS|LATEST
UPDATE 2024-2025
Forensic Accounting - ANSWER-✔Use of accounting knowledge or skill for
courtroom purposes. Can therefore involve not only fraud, but also bankruptcy,
business valuation, disputes, divorce, and other litigation.
Fraud Examination - ANSWER-✔Involves obtaining documentary evidence,
interviewing witnesses and potential subjects, writing investigative reports, testifying
to findings, and assisting in the general detection and prevention of fraud
Fraud (Black's Law Dictionary) - ANSWER-✔Intentional perversion of truth for the
purpose of inducing another, in reliance upon perversion of truth, to part with some
valuable thing belonging to him or to surrender a legal right
Occupational Fraud and Abuse - ANSWER-✔Use of occupation for personal
enrichment (even just $1) through deliberate misuse or misapplication of employer's
resources/assets
1. Material false statement
2. Knowledge that statement was false
3. Reliance on the statement by the victim
4. Damages - ANSWER-✔Four Elements of Fraud
Edwin H. Sutherland's definition of "white-collar crime" - ANSWER-✔Criminal acts
of corporations, individuals in corporate capacity
, Edwin H. Sutherland's Theory of Differential Association - ANSWER-✔Crime is
learned from intimate personal groups, not genetic
Donald R. Cressey - ANSWER-✔- Was Edwin Sutherland's student
- Studied embezzlers (why people become 'trust violators')
- Developed the Fraud Triangle
Pressure, perceived opportunity, and rationalization - ANSWER-✔Fraud Triangle
Pressure, perceived opportunity, rationalization, and capability (being able to live
with the guilt) - ANSWER-✔Fraud Diamond
1. Living beyond means
2. Overwhelming desire for personal gain
3. High personal debt
4. Close association with customers --> collusion?
5. Pay not commensurate with job
6. Wheeler-dealer
7. Strong challenge to beat system
8. Excessive gambling
9. Family/peer pressure - ANSWER-✔Steve Albrecht's Nine Motivators of Fraud
Fraud Scale (?) - ANSWER-✔Situational pressures, opportunity to commit, personal
interity
1. Employees (40.9%)
2. Managers (36.8%)
3. Owners (18.9%) - ANSWER-✔ALL Fraud (not just f/s) rates (by management at the
firm):
Corruption --> Bribery, conflicts of interest, illegal gratuities, and extortion -
ANSWER-✔Corruption part of the fraud tree
Asset Misappropriation --> Cash, inventory
Cash --> Larceny, skimming, fraudulent disbursements - ANSWER-✔Asset
misappropriation part of the fraud tree
Fraudulent statements --> Financial, non-financial - ANSWER-✔Fraudulent
statements part of the fraud tree
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