Fraud Detection Techniques

Fraud Detection Techniques

MAIN BODY..................................................................................................................................4
1. Give short answers for the following questions......................................................................4
i. Explain the term ‘fraud risk factors.’........................................................................................4
ii. What control mechanisms could be adopted against corruption?...........................................4
iii. Outline the main benefits of using analytic procedures in an audit process..........................4
iv. What are the common rationalisations for a fraudster, which tempt him to commit fraud?. .4
v. Outline the important points to be considered when evaluating fraud risk factors.................4
vi. Analytic procedures are used throughout the audit process for three primary.......................4
purpose.........................................................................................................................................4
2. ‘Circumstances may exist that create opportunities for management or other staff to commit
fraud’. Discuss.............................................................................................................................5
3 SAS 99 suggests that key sources for the identification of fraud risk factors are inquiries of
Management,’ in this context which type of questions should an auditor ask the management?
.....................................................................................................................................................5
CASE STUDY................................................................................................................................5
What type of evidence do you think the expert would have gathered for his report?.................5
Which documents could have helped the forensic expert in gathering evidence?......................5