100% de satisfacción garantizada Inmediatamente disponible después del pago Tanto en línea como en PDF No estas atado a nada
logo-home
Forensic Accounting Mid-term Exam Prep |100% Correct Answers| $9.49
Añadir al carrito

Examen

Forensic Accounting Mid-term Exam Prep |100% Correct Answers|

 12 vistas  0 veces vendidas
  • Grado
  • Forensic accounting
  • Institución
  • Forensic Accounting

Forensic Accounting Mid-term Exam Prep |100% Correct Answers| financial auditing *Ans* sampling process based on providing periodic assurances that account balances are statistically and materially accurate, internal controls are adequate, and accounting rules are followed two areas of fore...

[Mostrar más]

Vista previa 3 fuera de 17  páginas

  • 8 de octubre de 2024
  • 17
  • 2024/2025
  • Examen
  • Preguntas y respuestas
  • Forensic accounting
  • Forensic accounting
avatar-seller
Forensic Accounting Mid-term Exam
Prep |100% Correct Answers|
financial auditing *Ans* sampling process based on providing periodic assurances that

account balances are statistically and materially accurate, internal controls are adequate, and

accounting rules are followed



two areas of forensic accounting *Ans* investigative accounting

litigation services



forensic accounting *Ans* the action of identifying, recording, settling, extracting, sorting,

reporting, and verifying past financial data or other accounting activities



areas of forensic accounting *Ans* fraud investigation

business disputes consulting



characteristics of forensic accountants *Ans* analytical

detail oriented

ethical



most important skills (according to attorneys/clients) *Ans* effective oral communication

ability to simplify accounting information

,important skills (according to forensic accountants) *Ans* ability to identify key issues

investigative intuitiveness



general standards *Ans* professional competence- take on projects you can reasonably do

due professional care

planning and supervision- do most of work yourself

sufficient relevant data



consulting standards *Ans* serve the client

understand the client

communicate with the client



conflicts of interest *Ans* avoid completely

do not take on a case that you would have a conflict of interest with



paper overalls case *Ans* -fuel oil spill where a trucking company hired environmental

cleanup specialists. Trucking company was overcharged- all the accountants had was a lot of

invoices. What did they do? found that most invoices were for paper overalls at an outrageous

mark-up. They wore paper overalls to court to prove their point



point: clarify and simplify accounting

, gas refinery in the Middle East *Ans* construction damages case- 3 countries, 60 million in

damage claims, found ways to allocate and calculate estimates to prove that the cost was absurd



point: get experts in other areas if you need (technicians/ engineers), clarify and simplify the

accounting



Le Nature's *Ans* financial statement fraud case-

overstated revenues and understated liabilities on fake set of books, auditors looked at fake

books and gave clean audit opinions, with those the company was able to borrow millions from

banks which they embezzled for personal use



-mis-classified info to hide debt

-3 employees resigned, EY sent letter to board, Le Nature's fired EY, hired BDO, law firm

investigated, found nothing



-everyone was making money



-in the end: supplier called bank about transfer of money, and bank thought supplier had already

been paid----> led to crash



fraudulent financial reporting *Ans* the intentional misstatements or omissions of amounts

or disclosures in financial statements to deceive financial statement users

Los beneficios de comprar resúmenes en Stuvia estan en línea:

Garantiza la calidad de los comentarios

Garantiza la calidad de los comentarios

Compradores de Stuvia evaluaron más de 700.000 resúmenes. Así estas seguro que compras los mejores documentos!

Compra fácil y rápido

Compra fácil y rápido

Puedes pagar rápidamente y en una vez con iDeal, tarjeta de crédito o con tu crédito de Stuvia. Sin tener que hacerte miembro.

Enfócate en lo más importante

Enfócate en lo más importante

Tus compañeros escriben los resúmenes. Por eso tienes la seguridad que tienes un resumen actual y confiable. Así llegas a la conclusión rapidamente!

Preguntas frecuentes

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.

100% de satisfacción garantizada: ¿Cómo funciona?

Nuestra garantía de satisfacción le asegura que siempre encontrará un documento de estudio a tu medida. Tu rellenas un formulario y nuestro equipo de atención al cliente se encarga del resto.

Who am I buying this summary from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller AceTests. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy this summary for $9.49. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

45,681 summaries were sold in the last 30 days

Founded in 2010, the go-to place to buy summaries for 14 years now

Empieza a vender
$9.49
  • (0)
Añadir al carrito
Añadido