Fraud is not an accounting problem - it is a social phenomenon. Explain.

Q: How do you understand the Fraud Triangle? Please provide explanation

A: Fraud: Fraud is an act of deception committed by an individual intentionally against the company for…

Q: What was the motivation for Marrone’s Bio’s accounting fraud?

A: Accounting fraud refers to the alteration of the financial statements of the company and in an…

Q: The fraud triangle asserts that the following three factors must exist for a person to commit…

A: “As only one item is given in the question, it is assumed this particular answer is asked by the…

Q: Indicate which statements are true and which are false. Separating the responsibility for a…

A: Separating the responsibility for a transaction between two or more individuals or departmentswill…

Q: Because all fraud involves some form of financial misstatement, how is fraudulent statement fraud…

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Q: Explain fraudulent financial reporting.

A: The examples of fraudulent financial reporting are:  • Modifying the time of recording sales to…

Q: Why should businesses shift to an electronic accounting system? How can controls deter fraudulent…

A: Electronic accounting system entails use of computer based or internet based accounting tools. In an…

Q: what is the job of a financial intermediary*? What might happen if they fail to do their job? *as…

A: A financial intermediary is an institution that serves as a middleman in a financial transaction…

Q: What causes people to commit occupational fraud?

A: Answer:Causes of occupational fraud by people are listed below:Financial pressures:Financial…

Q: how does being unethical in the financial industry affect communication with clients?

A: In the financial services industry an agent or the concerned company (which is the financial…

Q: What is the best way to reduce financial statement fraud?

A: There are five basic types of financial statement fraud exist in the entity which are as…

Q: causes of business and accounting fraud

A: Fraud is an illegal activity of committing an offence with a willful intention to deceive others for…

Q: Accounting fraud is the intentional manipulation of financial statements to create a false…

A: Meaning of Accounting Fraud: Accounting fraud refers to intentional manipulation of financial…

Q: Governments and not-for-profit organizations have the trait of not being in business to make money.…

A: The Answer

Q: Why would a financial institution’s PEP customers be required to provide documentation to evidence…

A: Given, Political Exposed Persons (PEPs) are characterized as high-risk clients who have better…

Q: How can SPEs be used to manipulate financial statements? Give one real case example on the misuse of…

A: Special purpose entities are the subsidiaries created for a specific purpose. These are used to…

Q: Who are covered by the anti-bribery provisions?  Who are covered by the accounting provisions?

A: The Foreign Corrupt Practices Act of 1977 (FCPA) is a United States federal law  known primarily for…

Q: One of the typical characteristics of management fraud isa. Falsification of documents in order to…

A: Management Fraud:   Management fraud is a kind of fraud that is committed intentionally by the…

Q: (1) How does double-entry bookkeeping helpeliminate errors? (2) Why is accrual-based…

A: Disclaimer: “Since you have asked multiple question, we will solve the first question for you. If…

Q: Having inaccurate financial statements that can harm society would correspond with the ethical…

A: Financial statement:  The income statement, cash flow statement, and balance sheet. Footnotes on…

Q: hy is fraud prevention so important?

A: Fraud in auditing refers to the illegal manipulation or wrong altered information reported in the…

Q: What is the relationship between CSR and accounting fraud?

A: CSR or Corporate Social Responsibility refers to the management principles which tries to integrate…

Q: Why and how the accounting fraud happen in an company?

A: Company financial statements include balance sheets, income statement, cash flow statement . The…

Q: Explain why people commit fraud. 2. What are the various types of fraud?

A: Fraud is any intentional act done to obtain illegal or unjust advantage by employees, management,…

Q: How CSR related to accounting fraud?

A: CSR or Corporate Social Responsibility refers to the practices and policies implemented by corporate…

Q: Does the sale of accounts receivable to generate immediate cash harm or mislead anyone?  Would you…

A: Answer: Selling of accounts receivable to generate cash is defined under a process called factoring.…

Q: What are some of the flaws of teaching accounting only as a skill?

A: Accounting can be defined as the process of recording, analyzing, reporting and summarizing the…

Q: What are the most common approaches that perpetrators use to commit fraudulent financial reporting

A: Fraudulent financial reporting is defined as the purposeful misrepresentation of financial…

Q: Opportunity, is a fraud risk factor

A: Opportunity is the chance for committing fraud. It is an element of fraud triangle.

Q: most common types of accounting distortions

A: Accounting distortions are differences occur when comparing the reported financial information with…

Q: In what ways might accounting frauds be similar to casesof academic dishonesty?

A: Definition: Fraud: Presentation of inaccurate data, intentionally for personal gains. There could be…

Q: Which of the following is not an external user of a business’s financial information? Taxing…

A: Financial information: The financial information of the company is used by many internal &…

Q: The fraud scheme that is similar to the ‘‘borrowing from Peter to pay Paul’’ scheme is a. expense…

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Q: hy do fraud examiners prefer documents over witnesses

A: Solution Concept \Fraud examiners                 Fraud examiners are the professional who examines…

Q: Accounting and ethics both played large roles in the last fiscal crisis and in many smaller…

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Q: What is Enron fraud and why is it important

A: Enron fraud is one of the biggest accounting fraud happened in the United States.

Q: primary difference between fraud and error in financial reporting

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