Fraud Examination
6th Edition
ISBN: 9781337619677
Author: Albrecht, W. Steve, Chad O., Conan C., Zimbelman, Mark F.
Publisher: Cengage,
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Question
Chapter 2, Problem 4MCQ
To determine
The probability of fraud in case of high pressure and opportunity and low integrity
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Which of the following is NOT an element of the fraud triangle? a. ethics b. justifiable reliance c. situational pressure d. opportunity
Explain what a ‘fraud risk factor means’ and discuss thethree conditions generally present when fraud occurs. Illustrateyour answer with two examples of fraud.
If one of the three elements of the fraud triangle is not present, can fraud still be perpetrated? Explain.
Identify factors (red flags) that would be strong indicators of opportunities to commit fraud.
Is the ability to rationalize the fraud an important aspect to consider when analyzing a potentially fraudulent situation? What are some of the common rationalizations used by fraud perpetrators?
Define and illustrate kiting. What controls should the client institute to prevent it?
Chapter 2 Solutions
Fraud Examination
Ch. 2 - Prob. 1DQCh. 2 - Prob. 2DQCh. 2 - Prob. 3DQCh. 2 - Prob. 4DQCh. 2 - What are some different types of pressures?Ch. 2 - Prob. 6DQCh. 2 - Prob. 7DQCh. 2 - Prob. 8DQCh. 2 - Prob. 10DQCh. 2 - Prob. 11DQ
Ch. 2 - Prob. 12DQCh. 2 - Prob. 1TFCh. 2 - Prob. 2TFCh. 2 - Management's example or modeling is of little...Ch. 2 - Prob. 4TFCh. 2 - Prob. 5TFCh. 2 - Prob. 6TFCh. 2 - Prob. 7TFCh. 2 - Prob. 8TFCh. 2 - Prob. 9TFCh. 2 - Prob. 10TFCh. 2 - Prob. 11TFCh. 2 - Prob. 12TFCh. 2 - Prob. 13TFCh. 2 - Prob. 14TFCh. 2 - Prob. 15TFCh. 2 - Prob. 1MCQCh. 2 - Prob. 2MCQCh. 2 - Prob. 3MCQCh. 2 - Prob. 4MCQCh. 2 - Prob. 5MCQCh. 2 - Prob. 6MCQCh. 2 - Prob. 7MCQCh. 2 - Prob. 8MCQCh. 2 - Prob. 9MCQCh. 2 - Prob. 10MCQCh. 2 - Prob. 11MCQCh. 2 - Prob. 12MCQCh. 2 - Prob. 13MCQCh. 2 - Prob. 14MCQCh. 2 - Prob. 15MCQCh. 2 - Prob. 16MCQCh. 2 - Prob. 17MCQCh. 2 - Prob. 18MCQCh. 2 - Prob. 19MCQCh. 2 - Prob. 20MCQCh. 2 - Prob. 1SCCh. 2 - Case 2
A few years ago, there was a large oil...Ch. 2 - Prob. 3SCCh. 2 - Prob. 4SCCh. 2 - Prob. 5SCCh. 2 - Prob. 6SCCh. 2 - Prob. 7SCCh. 2 - Prob. 8SCCh. 2 - Prob. 9SCCh. 2 - Prob. 10SCCh. 2 - Case 11
As a new staff member in a large national...Ch. 2 - Prob. 12SCCh. 2 - Prob. 13SCCh. 2 - Prob. 14SCCh. 2 - Case 15 But I intended to pay it all back, I...Ch. 2 - Prob. 1.1CSCh. 2 - Prob. 1.2CSCh. 2 - Prob. 1.3CSCh. 2 - Prob. 2.1CSCh. 2 - Prob. 2.2CSCh. 2 - Prob. 2.3CSCh. 2 - 1. What factors in Johnson’s control environment...Ch. 2 - Prob. 3.2CSCh. 2 - Prob. 3.3CSCh. 2 - How did trust contribute to Mr. Armstrongs fraud?Ch. 2 - Prob. 4.2CSCh. 2 - Prob. 5.1CSCh. 2 - Prob. 5.3CSCh. 2 - Prob. 5.4CS
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Similar questions
- Which of the following conditions is not necessary for a fraud to occur?Select one:a. Explanationb. Pressurec. Opportunityd. Rationalizationarrow_forwardWhich of the following is not an element of the fraudtriangle?a. Opportunityb. Control environmentc. Incentived. Rationalizationarrow_forwardFraud risk factors are events or conditions that indicateI. An incentive or pressure to perpetrate fraud.II. An opportunity to carry out the fraud.III. An attitude or rationalization that justifies the fraudulent action.Which of the following statements is true?a. I is a fraud risk factor.b. I and II are fraud risk factors.c. II and III are fraud risk factors.d. None of these is a fraud risk factor.e. I, II, and III are fraud risk factors.arrow_forward
- Give an example of fraud and error?arrow_forwardWhich of the following is NOT an element of the fraud triangle? opportunity pressure rationalization money Repeating group data cannot exist in tables that are normalized at the 2NF level. True Falsearrow_forwardThe fraud triangle asserts that the following three factors must exist for a person to commit fraud. A. Opportunity B. Pressure C. Rationalization. Identify the fraud risk factor (A, B, or C) in each of the following situations.arrow_forward
- If one of the three elements of the fraud triangles is not present, can fraud be still perpetrated? explainarrow_forwardWhich of the following would a fraudster perceive as a pressure?A. lack of management oversightB. everyone does itC. living beyond one’s meansD. lack of an internal audit functionarrow_forwardThe fraud triangle asserts that there are three factors that must exist for a person to commit fraud; these factors are opportunity, pressure, and rationalization. Group of answer choices True Falsearrow_forward
- Give instances of risk factors for false financial reporting for \seach of the three fraud conditions: incentives/pressures, opportunities, and attitudes/ \srationalization.arrow_forwardIndicate which statements are true and which are false. 1. Bonding key employees helps reduce risk of theft. 2. Hiring auditors to review internal controls increases risk of theft. 3. Establishing responsibilities helps determine who is at fault for errors or fraud. 4. Separating the responsibility for a transaction between two or more individuals or departments n system of internal control.arrow_forwardDefine Fraud.arrow_forward
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