Fraud 3 - Select one fraud audit procedure from the list...

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Select one fraud audit procedure from the list provided that would prevent or detect the fraud described. The audit procedures may be used twice in this exercise or not at all. Answer Question Correct Match Selected Match The auditor suspects that a kiting scheme exists. E. Prepare a bank transfer schedule. B. Obtain the January bank statement and compare the cleared checks to the year end December bank reconciliation. The auditor suspects that a large receivable is fictitious. G. Examine the entity’s shipping documents to verify that the merchandise that produced the receivable was actually sent to the customer. G. Examine the entity’s shipping documents to verify that the merchandise that produced the receivable was actually sent to the customer. The auditor suspects that selected employees of the company have received unauthorized raises from the company’s payroll supervisor, who has access tom payroll records. J.
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This note was uploaded on 12/09/2011 for the course FRAUD 101 taught by Professor ? during the Spring '11 term at Post.

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