Chapter 5 Flashcards Preview

Fraud > Chapter 5 > Flashcards

Flashcards in Chapter 5 Deck (4)
Loading flashcards...
1
Q

Co-workers and managers

A

Best position to detect fraud

2
Q

Unusual processes or procedures in the accounting system

E.g missing docs, excessive voids or credits, duplicate payments

A

Accounting anomalies

3
Q

Relationships in financial or non-financial data that do not make sense.

E.g. Unexplained inventory shortages
Excess purchases
Cash shortages or overages

A

Analytical anomalies

4
Q

Control environment
Accounting system
Control activities (procedures)

A

Internal Control System