Exam 3: Ethics,fraud,and Internal Control

The text discusses a red-flag checklist of questions regarding personal traits of executives which might help uncover fraudulent activity.List three of these questions.

Which input control check would detect a payment made to a nonexistent vendor?

Describe factors that influence the number of backup files needed for each application.

A well-designed purchase order is an example of a

What are the three categories of processing control?

Database management fraud includes altering,updating,and deleting an organization's data.

Give two examples of employee fraud and explain how the theft might occur.

Explain the shell company fraud.

The internal audit department recalculates payroll for several employees each pay period.This is an example of __________________________.

The external auditor is responsible for establishing and maintaining the internal control system.

Which of the following is not an example of independent verification?

How has the Sarbanes-Oxley Act had a significant impact on corporate governance?

Which of the following is not an internal control procedure?

SOX requires:

Which of the following is a preventive control?

Locking petty cash in a safe is an example of __________________________.

The most cost-effective type of internal control is

After data is entered into the system,it is processed.Processing control exists to make sure that the correct things happen during processing.Discuss processing controls.

If input and processing controls are adequate,why are output controls needed?

An inventory record indicates that 12 items of a specific product are on hand.A customer purchased two of the items,but when recording the order,the data entry clerk mistakenly entered 20 items sold.Which check could detect this error?