Question 1

Distinguish between errors and irregularities.Which are of greatest concern to auditors?

Accepted Answer

Errors are unintentional mistakes; while

Question 2

The objective of SAS 99 is to seamlessly blend the auditor's consideration of fraud into all phases of the audit process.

Accepted Answer

A) True 
 B)False

Question 3

Business ethics involves

Accepted Answer

A)  how managers decide on what is right in conducting business 
B)  how managers achieve what they decide is right for the business 
C)  both a and b 
D)  none of the above 
A)  how managers decide on what is right in conducting business 
B)  how managers achieve what they decide is right for the business 
C)  both a and b 
D)  none of the above

Question 4

Which of the following is not an issue to be addressed in a business code of ethics required by the SEC?

Accepted Answer

A)  Conflicts of interest 
B)  Full and Fair Disclosures 
C)  Legal Compliance 
D)  Internal Reporting of Code Violations 
E)  All of the above are issues to be addressed 
A)  Conflicts of interest 
B)  Full and Fair Disclosures 
C)  Legal Compliance 
D)  Internal Reporting of Code Violations 
E)  All of the above are issues to be addressed

Question 5

What are the five conditions necessary for an act to be considered fraudulent?

Accepted Answer

false representation

Question 6

Collusion among employees in the commission of a fraud is difficult to prevent but easy to detect.

Accepted Answer

A) True 
 B)False

Question 7

Name three forms of computer fraud.

Accepted Answer

Computer fraud includes:
The theft,misus

Question 8

Copyright laws and computer industry standards have been developed jointly and rarely conflict.

Accepted Answer

A) True 
 B)False

Question 9

According to common law,there are five conditions that must be present for an act to be deemed fraudulent.Name and explain each.

Accepted Answer

In order for an act to be deemed fraudul

Question 10

What is scavenging?

Accepted Answer

Scavenging involves

Question 11

Management fraud is regarded as more serious than employee fraud.Three special characteristics have been discussed for management fraud.What are they? Explain.

Accepted Answer

Management fraud is more insidious than

Question 12

Of the three fraud factors (situational pressure,ethics,and opportunity),situational pressure is the factor that actually facilitates the act.

Accepted Answer

A) True 
 B)False

Question 13

The ethical principle of justice asserts that the benefits of the decision should be distributed fairly to those who share the risks.

Accepted Answer

A) True 
 B)False

Question 14

Defalcation is another word for financial fraud.

Accepted Answer

A) True 
 B)False

Question 15

The fraud triangle represents a geographic area in Southeast Asia where international fraud is prevalent.

Accepted Answer

A) True 
 B)False

Question 16

Ethical issues and legal issues are essentially the same.

Accepted Answer

A) True 
 B)False

Question 17

All of the following are factors in the fraud triangle except

Accepted Answer

A)  Ethical behavior of an individual 
B)  Pressure exerted on an individual at home and job related 
C)  Materiality of the assets 
D)  Opportunity to gain access to assets 
A)  Ethical behavior of an individual 
B)  Pressure exerted on an individual at home and job related 
C)  Materiality of the assets 
D)  Opportunity to gain access to assets

Question 18

Explain the Pay and Return scheme.

Accepted Answer

A pay-and-return scheme involves a clerk

Question 19

Four principal types of corruption are discussed.Name all four and explain at least two.

Accepted Answer

Corruption involves an executive,manager

Question 20

The trend toward distributed data processing increases the exposure to fraud from remote locations.

Accepted Answer

A) True 
 B)False

Distinguish between errors and irregularities.Which are of greatest concern to auditors?

The objective of SAS 99 is to seamlessly blend the auditor's consideration of fraud into all phases of the audit process.

Business ethics involves

Which of the following is not an issue to be addressed in a business code of ethics required by the SEC?

What are the five conditions necessary for an act to be considered fraudulent?

Collusion among employees in the commission of a fraud is difficult to prevent but easy to detect.

Name three forms of computer fraud.

Copyright laws and computer industry standards have been developed jointly and rarely conflict.

According to common law,there are five conditions that must be present for an act to be deemed fraudulent.Name and explain each.

What is scavenging?

Management fraud is regarded as more serious than employee fraud.Three special characteristics have been discussed for management fraud.What are they? Explain.

Of the three fraud factors (situational pressure,ethics,and opportunity),situational pressure is the factor that actually facilitates the act.

The ethical principle of justice asserts that the benefits of the decision should be distributed fairly to those who share the risks.

Defalcation is another word for financial fraud.

The fraud triangle represents a geographic area in Southeast Asia where international fraud is prevalent.

Ethical issues and legal issues are essentially the same.

All of the following are factors in the fraud triangle except

Explain the Pay and Return scheme.

Four principal types of corruption are discussed.Name all four and explain at least two.

The trend toward distributed data processing increases the exposure to fraud from remote locations.

Auditing and Internal Control

Auditing IT Governance Controls

Security Part I: Auditing Operating Systems and Networks

IT Security Part II: Auditing Database Systems

Systems Development and Program Change Activities

Overview of Transaction Processing and Financial Reporting Systems

Computer-Assisted Audit Tools and Techniques

Data Structures and CAATTs for Data Extraction

Auditing the Revenue Cycle

Auditing the Expenditure Cycle

Enterprise Resource Planning Systems

Filters

Exam 12: Business Ethics, Fraud, and Fraud Detection

Distinguish between errors and irregularities.Which are of greatest concern to auditors?

The objective of SAS 99 is to seamlessly blend the auditor's consideration of fraud into all phases of the audit process.

Business ethics involves

Which of the following is not an issue to be addressed in a business code of ethics required by the SEC?

What are the five conditions necessary for an act to be considered fraudulent?

Collusion among employees in the commission of a fraud is difficult to prevent but easy to detect.

Name three forms of computer fraud.

Copyright laws and computer industry standards have been developed jointly and rarely conflict.

According to common law,there are five conditions that must be present for an act to be deemed fraudulent.Name and explain each.

What is scavenging?

Management fraud is regarded as more serious than employee fraud.Three special characteristics have been discussed for management fraud.What are they? Explain.

Of the three fraud factors (situational pressure,ethics,and opportunity),situational pressure is the factor that actually facilitates the act.

The ethical principle of justice asserts that the benefits of the decision should be distributed fairly to those who share the risks.

Defalcation is another word for financial fraud.

The fraud triangle represents a geographic area in Southeast Asia where international fraud is prevalent.

Ethical issues and legal issues are essentially the same.

All of the following are factors in the fraud triangle except

Explain the Pay and Return scheme.

Four principal types of corruption are discussed.Name all four and explain at least two.

The trend toward distributed data processing increases the exposure to fraud from remote locations.

Auditing and Internal Control

Auditing IT Governance Controls

Security Part I: Auditing Operating Systems and Networks

IT Security Part II: Auditing Database Systems

Systems Development and Program Change Activities

Overview of Transaction Processing and Financial Reporting Systems

Computer-Assisted Audit Tools and Techniques

Data Structures and CAATTs for Data Extraction

Auditing the Revenue Cycle

Auditing the Expenditure Cycle

Enterprise Resource Planning Systems

Filters