FOR2601
Assignment 1 Semester 2 2024
Detailed Solutions, References & Explanations
Unique number: 234942
Due Date: 10 August 2024
QUESTION 1
1.1.
Fraud auditing involves a range of activities and techniques designed to promptly detect whether
fraud has occurred or is occurring within an organization. Effective detection techniques should
be flexible, adaptable, and continuously evolving to meet the changing risk landscape. Here are
some key detection techniques used by auditors:
Red Flags
Red flags are warning signs or indicators that something may be amiss. Auditors must be vigilant
in recognizing these signs, which can be categorized into reactive and proactive red flags.
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