Whitney Bush chp 5 EOCQ.docx

Whitney Bush chp 5 EOCQ.docx - Whitney Bush Chpt 5 EOCQ...

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Whitney Bush Chpt 5 EOCQ 1,2,23,24,26,35,56,63-79 1) Define Misappropriation of asset. What are other terms for his concept? Fraud; obtaining something of value or avoiding an obligation by deception. Embezzlement, misuse of company assets and causing a company to pay for goods or services that have not been receiceved. Theft 2) How might misappropriation be accomplished? By false or misleading records or documents. 23) What is a cut off bank statement? It similar to a normal bank statement except that it covers a shorter period of time (10-20 days ) 24) Outline the typical kickback scheme commissions are paid to the bribe taker in exchange for services rendered. 26) What is money laundering and how do you catch it? It is the use of techniques to take money that comes from one source, hide that source and make the funds available in another setting so that the
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  • Spring '14
  • M.Bullen
  • Forensic Accounting, Deception, fraud risk exposure, fraud risk program, typical kickback scheme

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