100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
Previously searched by you
FOR2601 Assignment 1 (COMPLETE ANSWERS) Semester 2 2024 (234942) - DUE 10 August 2024 Course Forensic Methods and Techniques II (FOR2601) Institution University Of South Africa (Unisa) Book Forensic AnalyticsR46,49
Add to cart
FOR2601 Assignment 1 (COMPLETE ANSWERS) Semester 2 2024 (234942) - DUE 10 August 2024 Course Forensic Methods and Techniques II (FOR2601) Institution University Of South Africa (Unisa) Book Forensic Analytics
FOR2601 Assignment 1 (COMPLETE ANSWERS) Semester 2 2024 (234942) - DUE 10 August 2024
Course
Forensic Methods and Techniques II (FOR2601)
Institution
University Of South Africa (Unisa)
Book
Forensic Analytics
, 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 have to consider when starting a new investigation. (10)
[20]
1.1 Detection Techniques Used by Auditors to Detect Fraud in
an Organization
Auditors use a variety of techniques to detect fraud within an
organization. These techniques can be broadly categorized into
analytical, substantive, and investigative approaches. Here are
some key detection techniques:
1. Analytical Procedures: Auditors perform ratio analysis,
trend analysis, and other statistical analyses to identify
unusual variances and patterns that may indicate fraudulent
activity. For example, significant changes in financial ratios
or unexpected trends can prompt further investigation.
2. Data Mining and Analysis: Using software tools, auditors
can analyze large datasets to identify anomalies and patterns
that suggest fraudulent transactions. This can include looking
for duplicate payments, round-dollar amounts, or transactions
occurring at unusual times.
3. Reconciliation: Auditors reconcile various accounts to
ensure that records are accurate and complete. Discrepancies
in reconciliations can point to potential fraud. For instance,
reconciling bank statements with the general ledger can
reveal unauthorized withdrawals or deposits.
4. Substantive Testing: Detailed examination of transactions
and balances to verify their validity. This includes
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through EFT, credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying this summary from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Jennifer2024. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy this summary for R46,49. You're not tied to anything after your purchase.
