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FOR2601 Assignment 1 Semester 2 2024 (234942) - DUE 10 August 2024 R50,00
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Exam (elaborations)

FOR2601 Assignment 1 Semester 2 2024 (234942) - DUE 10 August 2024

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FOR2601 Assignment 1 Semester 2 2024 (234942) - DUE 10 August 2024 QUESTIONS AND ANSWERS

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  • July 27, 2024
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mpumeleloh
FOR2601 Assignment 1
Semester 2 2024
(234942) - DUE 10 August
2024




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, 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]

Question 1.1: Detection Techniques Used by Auditors to Detect Fraud in an

Organisation

Detecting fraud in an organization is a critical task for auditors, requiring a combination

of analytical skills, experience, and specialized techniques. Here are some of the

detection techniques commonly used by auditors:

1. Data Analytics and Continuous Monitoring:

o Description: Utilizes software to analyze large datasets to identify

anomalies, trends, and patterns that might indicate fraudulent activity.

o Application: Continuous monitoring systems can flag irregular

transactions, unusual account activity, or deviations from standard

processes.

2. Risk Assessment:

o Description: Involves identifying and assessing the areas within an

organization that are most susceptible to fraud.

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