Reference no: EM133147679
Fraud Prevention and Detection Policy
Overview
Having assisted the SEC and other companies as a CFA, now envision yourself in the role of a senior internal auditor. You have been charged by the board of directors with assessing risk exposure for Innovative Hockey Gear, LLC, a hockey equipment distributor.
Research risks associated with fraud, effective techniques that could be used to prevent or detect fraud, and the roles and responsibilities within the organization for preventing and detecting fraud.
Determine the types of exposure to fraud that the company could be exposed to and the related consequences to the organization. Provide a rationale for your response.
Evaluate tools and techniques that are the most effective in preventing and detecting fraud, making a recommendation for the tool that has the highest cost-benefit factor. Provide a rationale for your recommendation.
Evaluate the roles and responsibilities in the company to prevent and detect fraud, indicating how a culture of integrity can be created within these roles.
|
The FASB issues new standards on accounting
: The FASB issues new standards on accounting. The implementation date is usually a year from the date of issuance with early implementation encouraged
|
|
Why is it important for retailers to appeal to our senses
: Why is it important for retailers to appeal to our senses in a retail environment? Using a home decor store, list a specific example how the store could appeal
|
|
Coporation finance
: Derek plans to retire on his 65th birthday. However, he plans to work part-time until he turns 72.00.
|
|
Financial data red flags
: Financial data red flags present themselves in the form of unrealistic forecasts and unusual account increases or decreases in income statement
|
|
Fraud prevention and detection policy
: Determine the types of exposure to fraud that the company could be exposed to and the related consequences to the organization.
|
|
Discuss the CAATTS tools
: Discuss the CAATTS tools that could be used to test application controls for a business entity.
|
|
Fraud prevention and detection technology
: Evaluate the various tools / techniques available to auditors to prevent or detect fraud. Evaluate what drivers would cause you to commit fraud
|
|
Governmental reporting presentation
: Explain why governments use fund accounting. Analyze the importance of budget and control of government resources.
|
|
Branding strategy
: Create a compelling argument for the organization's investment in its brand that elaborates on the advantages of branding.
|