Identify if the scenario is a fraud risk factor relating to misstatements arising from fraudulent financial reporting or fraud risk factors relating to misstatements arising from misappropriation of assets and the associated condition generally present when fraud occurs.
Factors include:
i. Attitudes/rationalizations ā Misstatements arising from misappropriation of assets
ii. Attitudes/rationalizations ā Misstatements from fraudulent financial reporting.
iii. Incentives/pressure ā Misstatements arising from misappropriation of assets
iv. Incentives/pressures ā Misstatements from fraudulent financial reporting
v. Opportunities ā Misstatements arising from misappropriation of assets
vi. Opportunities ā Misstatements from fraudulent financial reporting
vii. Does not Apply
Scenarios
1. Significant related-party transactions not in the ordinary course of business
2. Promotions, compensation, or other rewards inconsistent with expectations
3. Significant bank accounts in the tax-haven jurisdictions for which there appears to be no clear business justification
4. Large amounts of cash on hand or processed
Answers: 3
Another question on Business
Business, 21.06.2019 13:00
Match the following definitions to your vocabulary words. 1. separation from a main group to form a new group as a result of disunity ethnic 2. group of people that share a distinctive race, culture, heritage, or nationality discrimination 3. removal of legal and social barriers which impose separation of groups integration 4. practice that treats equal people unequally; denial of opportunities to compete for social and economic rewards stereotyping 5. acting in a biased manner; using prejudicial thinking segregation
Answers: 3
Business, 22.06.2019 12:30
howard, fine, & howard is an advertising agency. the firm uses an activity-based costing system to allocate overhead costs to its services. information about the firm's activity cost pool rates follows: stooge company was a client of howard, fine, & howard. recently, 7 administrative assistant hours, 3 new ad campaigns, and 8 meeting hours were incurred for the stooge company account. using the activity-based costing system, how much overhead cost would be allocated to the stooge company account?
Answers: 1
Business, 22.06.2019 13:20
Suppose your rich uncle gave you $50,000, which you plan to use for graduate school. you will make the investment now, you expect to earn an annual return of 6%, and you will make 4 equal annual withdrawals, beginning 1 year from today. under these conditions, how large would each withdrawal be so there would be no funds remaining in the account after the 4th withdraw?
Answers: 3
Business, 22.06.2019 19:00
Consider the following information on stocks a, b, c and their returns (in decimals) in each state: state prob. of state a b c boom 20% 0.27 0.22 0.16 good 45% 0.16 0.09 0.07 poor 25% 0.03 0 0.03 bust 10% -0.08 -0.04 -0.02 if your portfolio is invested 25% in a, 40% in b, and 35% in c, what is the standard deviation of the portfolio in percent? answer to two decimals, carry intermediate calcs. to at least four decimals.
Answers: 2
You know the right answer?
Identify if the scenario is a fraud risk factor relating to misstatements arising from fraudulent fi...
Questions
Mathematics, 18.05.2021 19:20
Mathematics, 18.05.2021 19:20
Mathematics, 18.05.2021 19:20
