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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 WITH DETAILED ANSWERS

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  • July 27, 2024
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  • 2023/2024
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pablitoh11
FOR2601 Assignment
1 Semester 2 2024
(234942) - DUE 10
August 2024
QUESTIONS AND 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 Used by Auditors to Detect Fraud in an
Organisation

1. Analytical Procedures

Auditors use analytical procedures to identify unusual or unexpected
changes in financial data. By comparing current financial information with
historical data, industry benchmarks, or budgets, auditors can detect
discrepancies that may indicate fraud.

2. Data Mining and Analysis

Data mining techniques involve the use of sophisticated software to
analyze large datasets for patterns or anomalies. This includes looking for
unusual transactions, duplicate payments, or round-dollar amounts that
may signal fraudulent activity.

3. Review of Documentation

Auditors examine documents and records to ensure they are authentic and
accurate. This includes verifying invoices, receipts, contracts, and other

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