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Forensic Accounting Exam 1. Ch. 1-4 |Question and Answers| 100% Correc $8.49
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Forensic Accounting Exam 1. Ch. 1-4 |Question and Answers| 100% Correc
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Forensic Accounting Exam 1. Ch. 1-4 |Question and Answers| 100% Correct Time *Ans* Forensic accounting focuses on the past, although it may do so in order to look forward. What is forensic accounting's purpose? *Ans* Forensic accounting is performed for a specific legal forum or in anticipa...

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  • October 8, 2024
  • 12
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • forensic accounting exam 1 ch 1 4 question and

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  • Forensic accounting
  • Forensic accounting

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Forensic Accounting Exam 1. Ch. 1-4
|Question and Answers| 100% Correct
Time *Ans* Forensic accounting focuses on the past, although it may do so in order to look

forward.



What is forensic accounting's purpose? *Ans* Forensic accounting is performed for a

specific legal forum or in anticipation of presentation before a legal forum.



Peremptory *Ans* Forensic accountants may be employed in a wide variety of risk

management engagements within business enterprise as a matter of right, without the necessity

of allegations (e.g., proactive).



Two Forensic Accounting Broad Areas *Ans* Investigative Accounting & Litigation Support



Litigation services provided by F.A.s *Ans* Damages

Antitrust analyses

Valuation

Accounting

General Consulting

Analyses



Additional Procedures in forensic audit *Ans* Interviews and leveraging techniques

, Document inspection

Public records search

Legal knowledge regarding rules of evidence



Top 10 Topics in Forensic ACC Curricula (1-5) *Ans* 1. Fundamentals of fraud

2. Financial statement fraud

3. Types of fraud.

4. Cooking the books and problems in accounting.

5. Elements of fraud: pressure, opportunity, and rationalization.



Top 10 Topics in Forensic ACC Curricula (6-10) *Ans* 6. Anti fraud controls

7. Internal control evaluation

8. Theory and methodology of fraud examination.

9. Principles of ethics and corporate code of conduct.

10. Fraud detection and deterrence programs.



Knowledge, skills, and abilities needed by forensic accountant *Ans* Law, legal system,

courts, and courtroom procedure.



Forensic Accounting knowledge base *Ans* Law.

Criminology.

Investigative auditing.

Accounting.

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