Chapter 7 Homework - Nicholas Kuras Chapter 7 Homework Q2 3...

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Nicholas Kuras Chapter 7 Homework Q2, 3, 5, 8-11, 16, 19, 21-24, 26, 28; E7-16; P7-2A, 5A, 7A 2) Opportunity – It means that there is an available way for the employee to easily commit fraud Financial Pressure – There is a pressing need for money for whatever reason, that encourages the employee to commit the act of fraud Rationalization – The employee makes themselves believe that there is a good, valid, and acceptable reason for what they are doing 3) Control environment – Making sure that there is control and a clear sense of what is and is not allowed Risk assessment – Identifying and analyzing various risks and determining what is best for the company Control activities – Designing of policies and procedures to work on the specific risks Information and communication – Must allow for the easy spread of information to all relevant people Monitoring – Need to be able to monitor anything that happens in order to insure proper notification of events 5) It has increased the importance because it required that companies have proper reporting and monitoring in place. 8) Segregation of related activities and segregation of record-keeping from physical custody 9) By having good documentation you can make it easier to see small changes or missing information 10) Controlled environments, monitoring
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This note was uploaded on 08/30/2010 for the course BA 2340 taught by Professor Staff during the Fall '08 term at Michigan Technological University.

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Chapter 7 Homework - Nicholas Kuras Chapter 7 Homework Q2 3...

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