Exam (elaborations)
FOR2601 Assignment 1 Semester 2 2024 (234942) - DUE 10 August 2024
- Course
- FOR2601 (FOR2601)
- Institution
- University Of South Africa
FOR2601 Assignment 1 Semester 2 2024 (234942) - DUE 10 August 2024
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FOR2601Assignment 1
Semester 2 2024
(234942) - DUE 10
August 2024
QUESTIONS WITH COMPLETE ANSWERS
, FOR2601 Assignment 1 Semester 2 2024 (234942) - DUE 10 August
2024
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 to Detect Fraud in an Organisation
Auditors employ various techniques to detect fraud within an organization.
Here are some key methods:
1. Data Analysis: Auditors use data analysis tools and techniques to
scrutinize large volumes of financial and operational data. This helps
in identifying anomalies, trends, or patterns that might indicate
fraudulent activities.
2. Internal Controls Review: Evaluating the effectiveness of internal
controls is crucial. Weak or overridden controls often provide
opportunities for fraud. Auditors assess whether controls are properly
designed and implemented.
3. Document Examination: Scrutinizing documents for inconsistencies,
alterations, or forgeries can reveal fraudulent transactions. This
includes examining invoices, contracts, and other financial records.
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