Possible Exam 1 Questions - Forensics nn 30

Possible Exam 1 Questions - Forensics nn 30 - 44. A...

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Unformatted text preview: 44. A walkthrough is a form of risk assessment of a business' significant processes and is required by the PCAOB. a. True b. False 45. Rotation of duties can help prevent skimming schemes. a. True b. False 46. Segregation of duties helps prevent cash larceny. a. True b. False 47. Missing cash may mean shoplifting by employees. a. True b. False 49. Write‐offs to bad debt can conceal inventory thefts and kickback schemes. a. True b. False 50. Kiting is called "robbing Peter to pay Paul." a. True b. False 51. Two windows in the drive through lane at fast food restaurants have little fraud protection value. a. True b. False 52. An effective audit procedure for detecting fraud in the sales and collection cycle is to observe the proper and appropriate segregation of duties. a. True b. False 53. Gap analysis refers to the difference between actual internal controls and the stated internal controls. a. True b. False Page 30 of 44 ...
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This note was uploaded on 07/16/2010 for the course ACCOUNTING 2301 taught by Professor Norton during the Summer '10 term at Academy of Design Tampa.

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