Forensic Methods and Techniques Module A (FOR2601)
Exam (elaborations)
FOR2601 Assignment 1 Semester 2 2024 | Due 10 August 2024
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Course
Forensic Methods and Techniques Module A (FOR2601)
Institution
University Of South Africa (Unisa)
Book
Forensic Science Education and Training
FOR2601 Assignment 1 Semester 2 2024 | Due 10 August 2024. All questions answered with references.
QUESTION 1
1.1 Discuss in your own words the detection techniques that can be used by auditors to
detect fraud in an organisation. (10)
1.2 Discuss the basic considerations or tactical steps you...
Forensic Methods and Techniques Module A (FOR2601)
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Question 1
1.1. Discuss in your own words the detection techniques that can be used by auditors to detect
fraud in an organisation.
Detecting fraud within an organization requires a multifaceted approach, leveraging various
techniques and tools to identify and investigate potential fraudulent activities. Here are some key
detection techniques used by auditors:
Recognizing Red Flags
Auditors must be vigilant in identifying red flags, which are indicators of potential fraud. Red flags
can be behavioral, transactional, system-related, or corporate. For example, unusual system activity,
reluctance of managers to explain budgetary decisions, and suspicious invoice payments to tax
havens can all signal potential fraud.
Anonymous Reporting Mechanisms
Establishing hotlines and other anonymous reporting systems allows employees and other
stakeholders to report suspicious activities without fear of retaliation. These whistle-blower
mechanisms are crucial in uncovering fraud that might not be evident through standard auditing
procedures.
Suspicious Activity Reporting
Organizations often implement specific reporting mechanisms for suspicious activities. These reports
can trigger more detailed investigations by auditors and help in early detection of fraudulent
activities.
Process Controls
Effective process controls are designed to detect and prevent fraudulent activities. These controls
include:
Reconciliations: Regular comparison of different sets of data to identify discrepancies.
Independent Reviews: Third-party evaluations of processes and transactions to ensure
accuracy and integrity.
Physical Inspections and Counts: Verification of physical assets and inventory to prevent
misappropriation.
Analyses and Audits: Detailed examination of financial statements and transactions to
uncover inconsistencies.
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