What is the biggest role or contribution that an accountant/auditor can do in ensuring that ethical principles are followed and fraudulent activities are prevented, if not, monitored and discovered?

Q: Which of the following statements is correct concerning the understanding of internal control needed…

A: As per relevant standard related to internal control auditor must understand the control environment…

Q: How can failure in ethics affect organizational success? Is it something that can be audited?

A: Ethics are referred to as the beliefs that help in distinguishing between wrong and right.

Q: irector of the client. B. An auditor acts as an advocate on behalf o

A: Here in the given MCQ, the option C & D are self interest threats. (whereas other two options…

Q: What is in the nature of work of an auditor that puts his or her safety at risk? Answer in your own…

A: Auditor is the person who checks the accounts and the financial statements which have to be verified…

Q: How can external auditors attempt to uncover motivations for committing fraud?

A: Fraud:   It is an intentional misappropriation of the assets or the financial records of an…

Q: How might financial incentives in the form of client services unconsciously introduce auditor bias…

A: Audit: Audit is the process of verification of the compliance of the financial statements.

Q: Why is independence is such an important requirement for auditors. Who gets hurt when accountants…

A: An auditor is an individual or an organisation authorized to review and verify the effectiveness,…

Q: How does the study of criminology relate to the detection or deterrence of fraud? How does it differ…

A: Fraud It is an  act of intentionally doing something to attain unlawful  things and deny the rights…

Q: For what reasons do auditors obtain an understanding of a client’s internal control?

A: Auditor: The person who is considered responsible for assessing the credibility of the financial…

Q: What rules or policies should be developed to avoid ethical fraud issues?

A: Accounting Fraud:   Intentional manipulation of financial statement to create false financial heath…

Q: Distinguish between an auditor’s responsibilities to detect and report errors, illegal acts, and…

A: Definition: Auditor: Auditor is an accounting professional hired by a company to review the…

Q: What steps has the external auditing profession taken to minimize potential bias toward independent…

A: The auditors are appointed to provide their opinion on the financial reports examined. The auditor…

Q: When it comes to control systems and materiality, why could fraud examiners' views vary from those…

A: Misstatements and judgments are taken into account when determining materiality in the design and…

Q: An internal auditor is examining the effectiveness of procedures management established to protect…

A: "Independent examination of financial information of any company, whether profit-oriented or not,…

Q: In order to eliminate ethical fraud concerns, what procedures or policies should be implemented

A: Fraudulent Accounting: Accounting fraud is explained as the deliberate manipulation of financial…

Q: Why would a staff auditor want to be “part of the client’s team” and consent to questionable…

A:

Q: Moral legitimacy refers to the generalized perception or assumption of observers that the actions of…

A: Explain how moral legitimacy might be applied to assess the actions of audit firms.

Q: Why do you think "independence" is the foremost quality that a forensic accountant must possess?

A: Accounting:   The process to record, classify, summarize organization transactions in a systematic…

Q: When it comes to control systems and materiality, why may fraud examiners' perspectives be different…

A: Auditor : He is a firm employee tasked with conducting an audit, verifying all of the company's…

Q: What is the connection between criminology and the discovery or prevention of fraud? It's not the…

A: Fraud It is the deliberate act of doing anything to get illegal items and deny the victim's rights.

Q: Why do fraud examiners handle information in a different manner than auditors? Why is thisimportant?

A: Fraud examiners handle information in a different manner than auditors, in order to minimize the tax…

Q: What are the differences between business failure, auditor failure, and audit risk? Is it fair to…

A: Audit risk is the risk which arises due to the probability or the chance of reporting the financial…

Q: what happens when auditor is being irresponsible to the company?

A: Auditing is a process in which an auditor checks the accounts and financial statements of the…

Q: Do you think the concept of materiality is incompatible with ethical behavior? Consider in your…

A: The concept of materiality implies that if the net effect of the transaction is low on the financial…

Q: Why do you think that inherent and control risk is responsible for the audited company(client) and…

A: Audit means checking, verifying and examining all the financial records and information to ensure…

Q: What is  the relationship between the external auditor and the organization. What steps have been…

A: An external auditor is the person or firm who verify the financial statements of the organization…

Q: what is the most important thing that a Forensic Accountant or Auditor does?

A: Forensic audit or accountant perform an financial records examination in order to find any financial…

Q: Which ethical principle is violated by an auditor who discloses information for personal gain? a.…

A: Auditing means the independent checking of company operation by outsider. Auditor is a qualified and…

Q: Which of the following is not related to ethical requirements of auditors?a. Due care.b.…

A: As per the ethical requirement of an auditor it is imperative that the auditor's exercises due care,…

Q: What is the ethical value of applying the Fraud Triangle to assess the risk of material…

A: Fraud Triangle:   A fraud triangle refers to a framework that is used in auditing to explain the…

Q: A code of ethics is an important element of a fraud prevention program. Which of the following would…

A: Fraud: Fraud is the act of deliberately conducting false reporting of facts, to acquire funds or…

Q: What is the importance for auditors to exercise a reasonable care and skill in the performance of…

A: Operational efficiency and effectiveness can be improved through performance audits and operational…

Q: What is internal control? Why is an auditor interested in a client’s internal control?

A: Internal Control: Internal controls are the mechaniisms, rules, and procedures legally by an…

Q: A business wishes to establish sound internal controls. What rules and processes can you recommend…

A: This question explains about sound internal controls.

Q: Why does an auditor not have responsibility to identify or assess all business risks?

A: Audit definition -  The audit is an independent examination of the financial Information of an…

Q: A company wants to implement good internal control. What are the policies and procedures you can…

A: Internal Control:   It is a process of assuring the effectiveness and efficiency of the objectives…

Q: Under what circumstances are external auditors likely to beinvolved in operational auditing? Give…

A: Operational Audit: An operational audit refers to the review of any aspect of the operating…

Q: Critically evaluate whether the manner in which the market for the supply of audit services is…

A: An audit is the study of an organization's financial report - as presented in the annual report - by…

Q: threats

A: Ans. An auditor has to follow certain ethical standards like objectivity, integrity,…

Q: Why might fraud examiners’ attitudes about control systems and materiality differ from that ofother…

A: Materiality is the planning and performing the audit procedures in which certain misstatements,…

Q: Explain professional skepticism and why it is important for all auditors.

A: Auditing is the process of examination of financial records of the entity with a view to express an…

Q: What is the auditor’s strategy for detecting

A: Answers: Auditor and the risk of fraud: Auditor always be skeptical while auditing the financial as…

Q: 1. External auditors should consider the work of internal auditors in their assessment of control…

A: Auditors are the individuals conducting an examination called audit on the business entities so as…